Foreigners Control Fifth of Mineral Wealth in American West, Study Shows

http://www.nytimes.com/2004/05/12/national/12west.html?ex=1084939200&?en=0399f3aa523d7085&?ei=5062&?partner=GOOGLE

WASHINGTON, May 11 - About 20 percent of the mineral wealth of the American West is claimed by foreign companies, most of them Canadian, according to a new analysis and online database released Monday by an environmental organization.

The report, produced by the Environmental Working Group, also shows that of all the uses of federal lands, hard-rock mining returns the least to the federal Treasury: 2.3 percent of sales, compared with 13.2 percent for oil and gas development, 14 percent for grazing and 66 percent for timber sales.

"For as little as $0.84 an acre, more than 28,000 companies and individuals have gained control of precious metals and minerals on 5.6 million acres of public land across 12 continental Western states," the report says. "Some of these companies are foreign-owned. None of them will pay anything to the federal government for the value of the minerals they extract from public property."

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It's wrong. These companies come in, trash the place, take their money back across the border and escape prosecution by being in the foreign country.

It's been going on for a long time

Yes, indeed, it's been going on a long time and that was a major reason for Goldwater trumpeting States' rights. He saw Eastern (read foreign) companies opening mines in the southwest, exploiting the land during good times, then closing up shop and skipping town during the night, leaving the mess for the locals to deal with. The more things change, the more they stay the same.

if you do the accounting, the "trashing" of america by foreign mining companies pales in significance to the reverse.

but canadian-bashing seems to be all the rage these days, so by all means carry on . . . .

gosh, just since I trashed "foreigners" instead of Americans, you get all pissy about it?

It's all wrong, pal. But I think there are very few Americans who realize that it's being done to us.

they pale in significance to what american companies do elsewhere. one example is diamond mining in africa. another example is:

Freeport McMoran's mine lies on Indonesian-controlled Irian Jaya, the western half of the island of New Guinea. It is probably the most controversial mining operation in the world. Allegations of major environmental damage and human rights abuses have provoked investigations and protests in the US and riots on the island.

In the process of digging up vast quantities of ore-bearing rock from the world's largest gold mine and third-largest copper mine, Freeport McMoRan has flattened the highest peak between the Himalayas and the Andes, and has dumped the 110,000 tons of mining waste produced each day into the rivers that run down from the mountains.

The waste has damaged both the environment of Irian Jaya, and the lives of the people that live there. Water contamination has caused skin rashes, stomach problems, bloody coughs, and even death. Death has also been the fate for the fish and the sago palm trees that sustain the indigenous Komoro people. Among the Amungme people, the leaves of the vegetables and the skin of the pigs on which they live have discolored from the pollution.

According to a Dutch study of the area around Freeport's mine, 20 - 40 kilometers of the Ajkwa river is so polluted with acid mine drainage and toxic waste metals that is will be hazardous to fish and humans for 15 years. The study also showed the river's flood plains will be poisoned for 35 years, as will the river's estuary and delta.

and now for the least surprising part


The Overseas Private Investment Corporation, a political risk insurance agency owned by the US government withdrew an insurance policy for the mine in November, 1995. Freeport brought in Henry Kissinger to lobby the State Department to stop the policy cancellation (Kissinger's consulting firm received $600,000 from Freeport in 1994), and Indonesian President Suharto made a personal appeal to President Clinton on behalf of Freeport. The insurance policy was reinstated.

http://www.thirdworldtraveler.com/Environment/Freeport_IrianJaya.html

I already knew about it, but I wish more people did. It's horrible.

in Canada, they should have to pay a fair value based on their profits.

instead of running back across the border and spending their money on parties and hookers.

These people are real fuckwads.

and hookers, not to mention their US employees donating to the bush campaign. Barrick gold is a Saudi holding and who is their best bud? Well, gee, could that be the bush crime family? I am all for holding companies, no matter what country they come from, to standards but the "they" in your post negates the "us" that is equally responsible.

War is Golden for the Bush Administration
And the commodities connection? President Pretzel's relentless hissy-fit for war on Iraq has of course goosed the price of gold enormously--and that's set Bush Family coffers a-clinking. How so? In the waning days of his failed presidency, Bush I invoked an obscure 1872 statute to give a Canadian firm, Barrick Corporation, the right to mine $10 billion in gold from U.S. public lands. (U.S. taxpayers got a whopping $10,000 fee in return.) Bush then joined Barrick as a highly-paid "international consultant," brokering deals with various dictators of his close acquaintance. Barrick reciprocated with big bucks for Junior's presidential run. And in another quid for the old pro quo, last year Junior dutifully approved Barrick's controversial acquisition of a major rival. (Barrick is also one of the biggest polluters in America, by the way.)

http://www.counterpunch.org/floyd02152003.html

The money behind Barrick is from Saudi arms dealer and Bush family friend Adnan Khashoggi, who was identified as conduit in the Iran-Contra conspiracy. In 1986 he was arrested and charged with fraud but failed to be convicted. In one of his last acts as president Bush pardoned Khashoggi's alleged co-conspirators, who were key members of Bush's own cabinet. As a result, no case could be made against Khashoggi – or against Bush himself.

http://www.penfield-gill.com/presentations/bush_the_elder.htm

Greed is the worst.