Vedanta Foiled: Vedanta Resources Limited is a mining company with headquarters in London though founded in India in 1976 and is largely owned by the family of its founder Anil Agarwal. Mining is essentially a dirty business, but Vedanta has earned a reputation for being one of the very worst in terms of environmental damage, unsafe operations, human rights and dodgy tax practices.
I first became aware of the company in 2010 when human rights and activist groups, including Survival International, Amnesty International organised a protest in London outside its AGM against its plans to destroy a mountain sacred to the Dongria Kondh people in the Niyamgiri hills in Odisha, India for its deposits of the aluminium ore bauxite. Even the UK government criticised the company, which refused to cooperate with an OECD investigation.
Their refinery in Odissa has also been found to produce high levels of air and water pollution, as have other factories owned by Vedanta subsidiaries elsewhere, including in Zambia.
In 2018 Vedanta announced it was de-listing from the London Stock Exchange after pressure from politicians and activists following the Thoothukudi massacre in Tamil Nadu in May in which 13 protesters were killed and dozens injured, and the success of grassroots activism which has shut down Vedanta’s operations in Goa, Tuticorin and Niyamgiri.
Much of that pressure came from the activities of Foil Vedanta whose annual protests outside the Vedanta AGM I photographed for some years. As well as noisy protests outside the meeting some of these campaigners had bought shares so they had a right to attend the AGMs and ask questions about the companies activities. While their questions were seldom addressed seriously they did greatly embarrass the company and caused som independent shareholders to disinvest.
But Foil Vedanta also did more, and a few days before the final AGM had released a comprehensive report ‘Vedanta’s Billions: Regulatory failure, environment and human rights’ detailing the company’s crimes in all of its operations, and of the City of London’s total failure to regulate Vedanta, or any other criminal mining company and revealing the vast scale of tax evasion and money laundering.
Four years earlier Foil Vedanta had issued another report on the company’s subsidiary mining copper in Zambia, exposing how it had evaded taxes there as well as pollution and environmental problems that other investigations had already reported.
They also supported Zambian communities consistently polluted by Konkola Copper Mines in bringing a case against the company to court in the UK. Vedanta appealed to the Supreme Court against the case being heard in the UK arguing it did not have a duty of care towards persons affected by the operations of a subsidiary company.
Surendra Das of Foil Vedanta commented “Vedanta’s remorseless pollution of the River Kafue since 2005 continues the colonial legacy of environmental racism which made the Zambian Copperbelt a global pollution hotspot. While the financial and material gains from copper have been allowed to flow seamlessly out of the country, justice risks being restricted by economic and institutional barriers of territoriality. We very much hope that the court will enable the fight for justice to continue.“
The Supreme court’s lengthy judgement confirmed that at a duty of care can exist between a parent company and third parties affected by the operations of its subsidiaries.
After the de-listing Vedanta is now a private company so this was the last Vedanta AGM, but protests by Foil Vedanta and the London Mining Network have continued in London against the company which still receives important backing from the City of London, as do other mining companies which are still plundering the world – if not as openly and crookedly as Vedanta.
More at Vedanta’s Final AGM.