Brazil: Civil society organizations reveal that Belo Sun is spreading false information to investors about the project in Volta Grande do Xingu
Civil society organizations from Brazil and abroad reveal in a letter to the Ontario Securities Commission a series of false information released by the Canadian company Belo Sun Corp. According to the letter, even though the company recognizes the risks associated with the legal processes against the licensing of the project, it fails to disclose concrete data about legal actions and suspensions that are underway in the courts, based on the lack of knowledge of investors about the legislation in Brazil.
The organizations point out that there has been a suspension of the Installation License (LI) due to the lack of prior, free and well-informed consultation with the indigenous communities that will be impacted by the project. The letter also highlights the history of lawsuits; conflicts around the project; flaws in the Environmental Impact Assessment (EIA); and the violation of the right to consultation of indigenous populations.