Vedanta’s Billions

Vedanta AGM Protest: Westminster, Wednesday 28 July 2010

The protest outside Vedanta’s AGM held in Westminster on Wednesday 28th July 2010 was the first time I really became aware of the company and its mining activities. This protest concentrated on its plans to displace and wipe out an ancient civilisation in the Niyamgiri Hills of Orissa, India by bauxite mining.

The hills which would have been destroyed by their mining are sacred to the region’s Adivasis, primarily the Dongria Kondh tribes. By 2010 Foil Vedanta who organised the protest were saying that Vedanta had caused more than 100 deaths in the area though accidents, police shooting, forced displacement, injury and illness.

More than a thousand people have already been displaced, with 8000 under threat, moved away from their traditional sources of income and dumped into shanty towns where there is no work. Thousands of acres of fertile agricultural land have been destroyed, rivers and streams disrupted and drinking water contaminated by fly ash and toxic red mud.

Anil Agarwal is CEO of Vedanta

Vedanta Resouces is an Indian company founded and still run by the Agarwal family, but in 2003 was listed on the London Stock Exchange following a two year ban by the Securities Exchange Board of India from accessing capital markets after they were found guilty of cornering shares and rigging share prices.

Police push back security who assaulted activists who tried to enter the building

A damning report, Vedanta’s Billions: Regulatory failure, environment and human rights‘, issued by Foil Vedanta in 2018 accuses “the City of London and the Financial Conduct Authority” of minimising the risks associated with Vedanta’s legal violations and human rights and environmental abuses’ and failing to investigate or penalise any London listed mining company on these grounds.”

Among other crimes, the report names Vedanta as “the latest in a string of London listed mining companies linked to the murder or ‘massacre’ of protesters, including Lonmin, Glencore, Kazakhmys, ENRC, Essar, GCM Resources, Anglo Gold Ashanti, African Barrick Gold and Monterrico Metals.”

As well as Foil Vedanta the campaign against them was supported by Amnesty International, Survival International and Action Aid, and a number of campaigners had become shareholders so they could attend the meeting and attempt to question the company’s activities – and these included Bianca Jagger. Her presence and that of two bright blue aliens from the tribe destroyed in the James Cameron film ‘Avatar’ ensured that the protest for once got some press coverage. Also supporting the protest were the South Asia Solidarity Group, South Asian Alliance, Brent Refugee and Migrant Forum and London Development Education Centre.

The campaign against Vedanta had already been successful in getting various shareholders to end their investment, including the Church of England, the Joseph Rowntree Trust and the Dutch pensions company in ending their investments due to concerns about its approach to human rights and the environment. And continued protests by Foil Vedanta undoubtedly played a part in the company’s decision to de-list from the London Stock Exchange in 2018.

The company was helped to list in London by the British Government’s Department of Trade and Industry and the Department for International Development (DfID), and was getting continued support from the DfID Building Partnerships for Development programme and the Orissa ‘Drivers for Change’ research project, and former British Ambassador to Saudi Arabia and High Commissioner of India David Gore-Booth had been a directory.

Its billionaire CEO Anil Agarwal was said to have close links with the extremist umbrella group for Indian Hindu right-wing organistions, Sangh Parivar, said to be responsible for many attacks on Muslim and Christian communities in Orissa, Gujurat and other parts of India.

The Foil Vedanta report has a “special focus on illegal mining in Goa, pollution and tax evasion in Zambia, as well as illegal expansion and pollution in Thoothukudi, Tamil Nadu, industrial disaster at Korba in Chhattisgarh, land settlement and pollution issues in Punjab, displacement and harassment of activists in Lanjigarh, Odisha, and a mineral allocation scam in Rajasthan.“

You can see and read more about the 2010 protest on My London Diary at Vedanta AGM Protest.

Flickr – Facebook – My London Diary – Hull Photos – Lea Valley – Paris
London’s Industrial Heritage – London Photos

All photographs on this page are copyright © Peter Marshall.
Contact me to buy prints or licence to reproduce.

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.

Tag: Vedanta’s Billions

Vedanta AGM Protest – 2010

Vedanta AGM Protest: Westminster, Wednesday 28 July 2010

Vedanta Foiled