abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthC4067174-3DD9-4B9E-AD64-284FDAAE6338@1xinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapeline, chart, up, arrow, graphLinkedInlocationmap-pinminusnewsorganisationotheroverviewpluspreviewArtboard 185profilerefreshIconnewssearchsecurityPathStock downStock steadyStock uptagticktooltiptwitteruniversalityweb
Article

4 May 2011

Author:
Ruth Sunderland & Rob Davies, Daily Mail [UK]

Greed Inc: A special investigation into pollution, dubious tax practices and exploitation of African workers at Glencore

In Zambia…Glencore is accused of manipulating its financial accounts…to reduce its tax bill…inhabitants of Mufulira…claim that sulphur pollution…is poisoning the air and water. Glencore counters by saying it has improved its environmental record and is investing heavily in a system to stop all sulphur emissions by 2015. But…Anthony Lipmann, a former chairman of the Minor Metals Trade Association… says toxic fumes are causing serious respiratory diseases…In 2008, acid used in the process of smelting copper spilled into the local water supply. Glencore says it was cleared up in days, but…Christian Aid suggests there were serious side-effects with lasting consequences…In theory, tax revenues from the Mopani Mining Company [a subsidiary of Glencore] mines should flow back to the Zambian government, to be spent on schools and hospitals for its people...five campaign groups…have filed a complaint with the Organisation for Economic Co-operation and Development…about claims of tax avoidance by Glencore…Glencore says it ‘refutes’ the conclusions of the Grant Thornton report as incomplete and based on flawed analysis and assumptions...One investment fund, which declined to be named, said it had still not decided if it could put its clients’ money into Glencore with a clear conscience.