1406 Raw Materials Working Group News - June 2014

  1. Natural Resource Charter

 

The Natural Resource Charter is a set of principles to guide governments' and societies' use of natural resources so these economic opportunities result in maximum and sustained returns for a country's citizens. It outlines tools and policy options designed to avoid the mismanagement of diminishing natural riches, and ensure their ongoing benefits. The charter is organized around 12 core precepts offering guidance on key decisions governments face, beginning with whether to extract resources and ending with how generated revenue can produce maximum good for citizens.

 

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       2.       DR Congo: Glencore's ruthless cost-cutting harms communities

 

An in-depth study about Glencore’s Congolese mines was published on Tuesday, 17 June 2014 by the British human rights organisation, Rights and Accountability in Development (RAID) and two leading Swiss development agencies, Bread for All and Fastenopfer, finds that the company’s performance falls far short of international standards in a number of critical areas.

 

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      3.       The EU admits the need to promote due diligence by EU companies in conflict areas

 

The Council of the EU has published a press release on responsible sourcing of minerals. The EU admit that trade in minerals sourced from conflict-affected and high-risk areas intensify violent  conflict  and  undermine  development,  stabilization  efforts,  good governance, human rights and the rule of law. The Council underscores the need to promote the practice of due diligence by EU operators and to create the conditions for companies to source responsibly from conflict-affected and high-risk areas.

 

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