Jesuits in Britain consider divesting from Rio Tinto over environmental concerns
The Jesuits in Britain, a Catholic religious order, may sell its stake in Rio Tinto following unsuccessful engagement with the mining giant over environmental concerns in Madagascar and Guinea, its head of ethical investments said on Wednesday.
"We've engaged with Rio the last three, possibly four years coming to AGMs," said Stephen Power SJ, who oversees ethical investments for the order, at Rio Tinto's annual general meeting.
Power added that Rio Tinto's handling of water contamination issues at its Madagascar operations were particularly troubling, with key water reports arriving late, lacking the required detail, or not materialising at all.
Environmental groups have for years said that water downstream of Rio Tinto's southern Madagascar mine contains high concentrations of uranium and lead, potentially endangering local residents who depend on nearby sources for drinking water.
Lead exposure can impede children's mental and physical development, while uranium poses kidney damage risks.
Rio Tinto chair Dominic Barton said the company has "focused a lot of time" on water quality and flows. He noted external assessments show "regulated metals consistently below laboratory limits of detection."
The Jesuits' concerns extend beyond Madagascar to include Rio Tinto's Simandou project in Guinea and the company's Scope 3 emissions - indirect greenhouse-gas emissions from its value chain.
The potential divestment reflects growing pressure on mining companies from faith-based investors demanding greater environmental accountability and community protection.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa
VISIT SHOWROOM
The Aluminium Federation of South Africa (AFSA), is the voice of the South African aluminium industry.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
