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Billions of EU funds wasted on dead-end investments

2 February, 2012

Brussels – Substantial environmental and social harm is being caused by controversial projects costing billions of euros of EU money, according to research published today by Friends of the Earth Europe and CEE Bankwatch Network.

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Earth’s riches, people’s troubles. Mining in Central Asia

31 January, 2012

Two new reports and two videos on the impacts of mining operations in Kyrgyzstan and Mongolia unearth some of the downsides of the mining business in Central Asia.

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Kyrgyzstan: Independent expertise exposes damage done by Kumtor gold exploitation

31 January, 2012

Bishkek — Canadian company Centerra Gold, owner and operator of Kumtor Mine, the largest gold mine in Central Asia managed by a Western company, has been contaminating local waters and glaciers while hiding evidence of such negative impacts from public oversight, reveals a report authored by an independent US-based expert published today by CEE Bankwatch Network (1). Had it operated in its home country Canada, Centerra’s practices would have caused the company serious trouble with the law.

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Bankwatch report and video: Mongolia’s mining bonanza poses threat to locals and planet

30 January, 2012

A new report launched today by CEE Bankwatch Network, urgewald and OT Watch (1), following on-the-ground research in Mongolia, details the impact of the country’s mining boom on local populations, shedding light on the ignored side of one of the biggest business stories of today: Mongolia’s planned public offering of the state-owned Erdenes Tavan Tolgoi and the rights to one of the world’s largest untapped coal reserves. (2)

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Video: Spirited away – Mongolia’s mining boom and the people that development left behind

27 January, 2012

Earlier this week we published an overview of two Central Asian mining projects financed by the European Bank for Reconstruction and Development – the Kumtor gold mine in Kyrgyzstan and the Ukhaa Khudag coal mine in Mongolia’s south Gobi desert, which is part of the much larger – in fact the world’s largest – coal deposit at Tavan Tolgoi.

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