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Article

16 Nov 2008

Author:
Tim Webb, Observer [UK]

Industry with image problems is now beginning to clean up its act

Until recently, the vast majority of ethical investors have shunned mining companies because of the damaging environmental, social and health and safety impact they have inflicted...Miners operating in developing countries in particular can come under fire for how much money they make and how little tax they pay to the host government...To identify sustainable companies, our research looked at health and safety, environmental management, corruption, community consultation and human rights. We have also judged miners on 'benefit sharing' - how they allow host communities to participate...Just as there has been a catalogue of bad practice in the past, there are ample examples of where mining companies have been, on balance, positive for their host communities and countries...[Ranking]: 19 BHP Billiton 76.82 30 Rio Tinto 75.52 36 Lonmin 74.14 74 Anglo American 68.20 93 Xstrata 65.87 140 UK Coal 59.06 165 Antofagasta 55.24 202 Hochschild Mining 50.09 210 Aquarius Platinum 47.79 213 Aricom 47.67 215 Eurasian Natural Res 47.48 229 Gem Diamonds 46.01 233 Intl Ferro Metals 44.96 234 Kazakhmys 44.72 261 Randgold Res 39.61 277 Vedanta Res 35.17 278 Ferrexpo 35.09 306 Talvivaara Mining Co 25.69