Shareholder resolution seeks cleaner, greener mining practices

Published: 2007-05-01

WASHINGTON (CNS) -- Shareholders of Newmont Mining Corp., one of the world's leading gold producers, overwhelmingly passed a resolution demanding that the corporation produce a report addressing community-based opposition to its operations in the United States and around the world. The resolution -- supported by a half-dozen Catholic institutional stockholders and by Newmont itself -- was approved at Newmont's April 24 annual meeting in Denver by 91.6 percent of the shareholders. "This was the first time a mining company in the United States had ever supported a social resolution," said Julie Tanner, corporate advocacy coordinator for one of the resolution's sponsors, Christian Brothers Investment Services, which manages an asset portfolio of more than $4 billion. The report will look at water pollution, waste disposal practices, development on sacred sites and community resettlement. "A pattern of community resistance to the company's operations, especially in Peru, Indonesia, and Ghana, raises concerns," the resolution said.

Copyright (c) 2007 Catholic News Service /U.S. Conference of Catholic Bishops. The CNS news report may not be published, broadcast, rewritten or otherwise distributed, including but not limited to such means as framing or any other digital copying or distribution method, in whole or in part without the prior written authority of Catholic News Service .