The Mopani and Glencore case – an overview

The EIB’s lending to Glencore’s subsidiary Mopani Copper Mine (MCM) in Zambia has been controversial since Counter Balance launched the report ‘Mopani copper mine, Zambia- How European development money has fed a mining scandal’ which conluded that the Mopani copper mine’s contributions to Zambia’s economy and budget are inexistent, the mining company’s social policy is marked by a race to the bottom and it leaves a devastating impact on the environment. Several claims of the report have been strengthened by a leaked tax audit of the company, a complaint against Glencore for violating OECD’s ‘arm’s length’ principles, an open letter from over 50 MEP’s calling for a moratorium on public financing of mining projects in Africa and critical articles in the international press. Due to all this pressure the EIB decided to investigate the case and announced this week a ban on loans to Glencore and its subsidiaries.

To make things easier for you we’ve listed an overview of all related documents and communications from our side on the topic:

report: Mopani copper mine, Zambia- How European development money has fed a mining scandal

press releases:

Launch Mopani report

EIB bans Glencore after pressure from CSOs, the press and the European Parliament

MEPs call for moratorium on public financing for mining projects

EIB beneficiaries face complaint for violating OECD’s arm’s length principles

Publicly funded Swiss company is dodging taxes in Zambia

Open Letter: http://www.counterbalance-eib.org/?p=1270

Tax audit: full and summary

Blog: http://www.counterbalance-eib.org/?p=1193

press briefing: http://www.counterbalance-eib.org/?p=1262

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