Who'd have sympathy for a mining company? Their record in the environment, in helping the communities on which they depend, and in making money for shareholders, has been poor for years. So few people will shed tears for the mining companies that are getting it in the neck, left, right and centre. From Africa to the Far East, governments are on the march — and the miners are in retreat. This year, the Philippines shut half its mines in one fell swoop, blaming environmental violations. In Indonesia, US giant Freeport is battling to hold onto its Grasberg copper mine. In South Africa, the proposed punitive new Mining Charter could drive through strict black empowerment targets for miners and freeze foreign investment in the process. And in Tanzania, the government is turning the screws on London-listed Acacia, hitting it for back taxes amid claims it has underreported how much gold it exports. While the circumstances differ in each country, a couple of themes are clear. First, governm...
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