A tale of two greedy mining companies listed on the London Stock Exchange: Glencore and Xstrata’s killing spree must stop.
Last year Occupy activists decided to occupy the UK office of the FTSE 100′s highest paid CEO: Mick Davis of Xstrata plc.
Why? Because Mick Davis and his dirty company are the 1% – that narrow corporate elite that are accruing vast riches from devastating communities around the planet. In 2010 Xstrata’s revenue was $30.5bn, more than the GDP of 75 countries.
Its headquarters are in the tax haven of Zug, Switzerland –like many multinational companies it minimises its contribution back to the public purse whilst vastly profiting in exploitation and human misery.
But these two companies are already inextricably linked even before their proposed merger – Glencore owns 34% of Xstrata2.
Occupy the London Stock Exchange’s Corporations Working Group didn’t have to dig deep to uncover sinister and illegal conduct. An open letter written to the President of the Phillipines and Xstrata-SMI President Peter Forrestal sets out the abuses inflicted on mining communities.
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