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Thursday, March 10, 2011

Harper sides with CEOs ­– Canadians pay the price

Harper sides with CEOs ­– Canadians pay the price

Angus calls for Conservative government to force corporations to prove “net-benefit”

OTTAWA – Since rubber-stamping the takeover of Canadian-owned Falconbridge and Inco by foreign corporations Xstrata and Vale, the Harper Conservatives have failed to protect the interests of Canadians, our economy and our resources, says New Democrat Charlie Angus (Timmins - James Bay). And the Northern Ontario community of Timmins is next to be hit by this government’s indifference.
Swiss-owned Xstrata is planning to shut down the Kidd Metallurgical site – Ontario’s only copper smelting and refining facility and one of the world’s most environmentally-efficient.
“Minister Clement welcomed in these foreign mining giants. They are deep-sixing any value-added jobs and shipping our raw resources to other jurisdictions,” says Angus. “This shut-down will drastically undermine Ontario’s copper refining capabilities and the Minister must investigate it.”
As part of the takeover agreement – the details of which the government has refused to make public – Xstrata is required to provide a “net-benefit” to Canada. Angus is calling on the Minister to make public the secret agreement so that Canadians can learn what commitments he has let Xstrata break.
“Since taking over Canadian mining assets, Xstrata CEO Mick Davis has been paid over $60 million,” says Angus. “Mick Davis has done very well under the Harper Conservatives. Meanwhile, northern mining communities and our environment are paying the price.”

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