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Article

27 Jun 2010

Author:
Thomas Maung Shwe, Mizzima [India]

Chinese arms maker’s copper mine deal raises queries over Canadian stake

One of China’s biggest arms makers signed a contract with a Burmese junta-controlled entity this month involving “co-operation” in a Monywa copper mine, raising serious questions over the status of Canadian miner Ivanhoe’s holdings in the town northwest of Mandalay and whether Burma sanctions have been violated...Norinco... was strongly criticised by pro-democracy rights group Canadian Friends of Burma (CFOB), who termed the deal the “arms-for-copper” affair...[and] called for Canadian authorities to launch an independent investigation to assess the present ownership status of the Monywa mine’s operator, Myanmar Ivanhoe Copper Capital Company Limited (MICCL)... spokesman Bob Williamson told Mizzima...that the “independent trust” had not sold the 50 per cent stake to anyone.... [A] source in Burma’s business community...[said] that the “independent trust” completed the sale...last year to cronies of the Burmese junta who have ties to Chinese business interests...[T]his would violate US and EU sanctions...[R]eports from villagers...are that neighbouring farmland has become too acidic to grow crops because of chemicals used in the mining process, driving many farmers into extreme poverty. Villagers also say that the Burmese regime has long maintained a heavy security presence in the area...