Antinuclear

Glencore and Xstrata: an anti environment monster rears its ugly head

From THE Australian  28 March 12  –on  the merger of Glencore and Xstrata   “Xstrata-Glencore will be worth $86bn, still less than BHP Billiton or Rio Tinto, but it promises to be a shark among whales. Glencore’s trading skills will be allied to Xstrata’s global production …  Glencore was a company with a dubious past — it was founded by Marc Rich, the sanctions-busting oil trader who received a presidential pardon from Bill Clinton — and a reputation as a group of smart, influential and wealthy traders.”

from Wikipedia:  ” Glencore “has been accused of illegal dealings with rogue states: apartheid South Africa, USSR, Iran, and Iraq under Saddam Hussein“, and has a “history of busting UN embargoes to profit from corrupt or despotic regimes”. Specifically, Glencore was reported to have been named by the CIA to have paid $3,222,780 in illegal kickbacks to obtain oil in the course of the UN oil-for-food programme for Iraq.”   – and that’s only a minor part of Glencore’s dubious dealings – Christina Macpherson

March 28, 2012 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, business