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[PDF] Involvement of UBS in the global mining and oil & gas sectors

Author: Jan Willem van Gelder, Profundo (Research paper prepared for Berne Declaration & Greenpeace Switzerland), Published on: 1 June 2006

This report aims to identify and describe the financing activities undertaken UBS Group in the global mining and oil & gas sectors. Most emphasis is given to the involvement of UBS in financing mining and oil & gas projects and companies which are controversial because of their consequences for the environment, local communities and/or human rights...[Controversial issues include] BTC pipeline in Georgia: BP is the operator of this oil pipeline...Total participates...The pipeline is...depriving local populations of crops and lands...BTC-related human rights abuses have increased. BP officials were alleged to have threatened affected villagers with violence...El Cerrejon Norte in Colombia: The mine is equally owned by the mining companies Anglo American, BHP Billiton and Glencore International. El Cerrejon Norte is described as “a continuing horror story of forced relocations of indigenous people, human rights violations, environmental destruction and other assorted injustices”. [also refers to CNOOC, Gazprom, Lukoil, Medco Energi Internasional, Novatek, Petrobras, Sinopec, Tatneft, TNK-BP, Yukos, Alcan, Alcoa, Alpha Natural Resources, Alrosa, AngloGold Ashanti, Barrick Gold, Energy Resources Australia [part of Rio Tinto], Evraz, Foundation Coal, Newmont Mining, Peabody Energy, Petrochina, ENI, Teikoku Oil]

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Related companies: Alcan (now Rio Tinto Alcan) Alcoa Alpha Natural Resources Alrosa (Almazy Rossii Sakha) Anglo American AngloGold Ashanti Barrick Gold BHP Billiton BP Cerrejón Coal (joint venture Anglo American, BHP Billiton, Glencore) CNOOC (China National Offshore Oil Corporation) Energy Resources Australia (part of Rio Tinto) Eni Evraz Foundation Coal Gazprom Glencore Lukoil MedcoEnergi Newmont Goldcorp Novatek Peabody Energy Petrobras PetroChina (part of China National Petroleum Corporation) Rio Tinto Sinopec Tatneft Teikoku Oil TNK-BP Total UBS Yukos