Tarnished Gold: Mining and the Unmet Promise of Development

Author: Radhika Sarin - Earthworks, Nikki Reisch & Jennifer Kalafut - Bank Information Center, Keith Slack - Oxfam America, with Bretton Woods Project, Campagna per la riforma della Banca Mondiale, Published on: 18 September 2006

The International Finance Corporation (IFC) continues to dress up money-making gold mining investments as development, yet it fails to demonstrate how these projects actually reduce poverty. On its "golden" 50-year anniversary, we challenge the IFC to "prove it" by reporting its development impacts on a project-by-project basis. [refers to Newmont & Buenaventura's Yanacocha mine (Peru), Golden Star's Bogosa/Prestea mine (Ghana), Glamis Gold's Marlin mine [owned by Montana Exploradora, part of Goldcorp] (Guatemala), Centerra Gold (part of Cameco)'s Kumtor mine (Kyrgyzstan)]

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Related companies: Cameco Centerra Gold Compañia de Minas Buenaventura Glamis Gold (part of Goldcorp) Goldcorp (now Newmont) Golden Star Resources Minera Yanacocha (joint venture Newmont, Sumitomo & Compañía de Minas Buenaventura) Montana Exploradora (part of Goldcorp) Newmont (formerly Newmont Goldcorp)