Athletes warns London Metal Exchange (LME) that it may break the law by allowing copper transactions from one of the most controversial mines in the world.
They say that the method of producing metals at the Glassberg mine in the highlands of Indonesia, the ongoing conflict zone is environmentally destroyed and almost illegal in the world.
However, products that contain copper of glass barg mines, such as cathodes, are sold daily in London Exchange, which describes the world's Industrial Metal Trading Center, and enters the supply chain crossing the earth.
Located in the western highlands of New Guinea, the Glassberg Mineral area in the middle of the third largest remaining rainforest in the world is one of the most important copper and gold supply in the world.
However, since the development of the late 1960s, mines have been allowed to use the so -called “river tail management system”. Dispose of estimated 200,000 tons of mining waste in one day Directly to the headwaters of the Ajikwa River Delta.
The ore from the mine is crushed along with the consistency of fine sand and is mixed with water to generate a slurry treated with a chemical substance that raises gold, copper and silver minerals from top.
After the commercial minerals are skimmed, the remaining finely crushed rock particles, known as the tail, are thrown away in the river next to the site, from which the Ajikuwadelta floods flow.
By the end of the mining in 2041, Pt FreePort Indonesia (Ptfi), the mine operator, said that it has finally designed and built a embankment system to manage the deposits of about 3 billion tails. I am.
Papua has argued that indigenous people have been suffering from poverty, illness, repression, and deterioration of the environment since the mine began in 1973.
An analysis of tail mining in the mine issued in 2020 shows pollutants containing arsenic, cadmium, lead, mercury, and cyanide. And in the 2016 study of nature, the huge amount of waste is “it has been found to lead to the flooding, deterioration and decomposition of forests. It is important for indigenous people.”
The chief of one tribe in this area, in 2016, sedimentary sediments from the mine grew the riverbed by his village, choked fish, oysters, and shrimp, and on top of his people. He said that the diet and the economy were traditionally based.
PTFI claimsHowever, “regular reviews continue to conclude that it is the best management option, considering the specific physical and environmental conditions of the project area. Environmental audits make sure that the tail management program is working as desired. ” He states that he has implemented a large number of programs.
On Monday, London Mining Network (LMN) and the Global Legal Action Network (GLAN) athletes warns LME and its regulatory authorities to warn that the traded copper produced by Grasberg may be money laundering. I wrote a letter at the financial action station (FCA). 。
They say that disposing of mining waste in this way is a serious crime in the UK. Therefore, it is said that copper produced in the mine may be considered “criminal property” under the crime law (POCA).
“London Metal Exchange is a world center for metal and important mineral transactions,” said Stephanie Caligala, a Grand lawyer.
“In order to intensify humanity to metal -like metals, to intensify the pursuit of” green transition “, the exchange is a legal obligation that guarantees that the metal traded in the exchange is not produced on the back of environmental crimes. I am taking it.
“It also has an important role in protecting the integrity of global supply chains. As a regulatory authority for exchanges, the FCA needs to investigate the laundry of crime transactions on exchanges.”
In their letter, the athleticist tells LME that he is obliged to notify the state criminal agency for suspected money launding, which is being investigated. Last year, they tried to judge the Grasberg Copper trading on the platform, but the judge had to make direct complaints to LME and FCA before taking that kind of legal measure. I said.
Karigara states: “Grand identifies the same patterns as mining companies in Brazil, Peru, Guinea, and Russia, and trades products in London Metal Exchange.
“If you succeed, the actions of GLAN and LMN may be forced to revisit the method of producing metals in these countries. This will reduce the number of environmental damage associated with mining. It may lead to dramatic improvements in the community influenced by these operations.
According to That websiteLME states that from the beginning of 2024, the list of exchanges needs to comply with the responsible procurement requirements, an overview of economic cooperation and development and international standardization.
It is understood that even if you are concerned about the production of products listed by exchanges, you will not be able to disclose those concerns.
“LME is taking appropriate measures to take regulated obligations seriously and to comply with such duties, including Poca.”
PTFI did not respond to the comment request.