TORONTO - The second of three reports on the ethical conduct of mining companies has been released by ETHICSCAN CANADA. This one covers iron, coal and metal producers in the same manner the first one covered Canadian diamond and gold miners (see Net News, March 30, 2005).
Iron ore and coal producers were lumped together. IRON ORE COMPANY OF CANADA, ELK VALLEY COAL, FORDING INC., LUSCAR LTD. AND SHERRITT INTERNATIONAL were rated. EthicScan awarded no marks better than a C, and there were plenty of Es, meaning scores in individual categories were below 19%. In the matter of candour, the highest rating was the 38 achieved by Sherritt. IOC and Luscar were close behind, scoring 36 and 34, respectfully.
The metal producers did better. ALCAN, CAMECO, FALCONBRIDGE, HUDBAY MINERALS, INCO, NORANDA and TECK COMINCO garnered 19 Bs in nine separate categories. Alcan scored seven out of nine Bs, also picking up one C and one D. Alcan also rated a 78 for its candour, far ahead of the next best rating, a 51 for Noranda.
Readers of CMJ's Net News can contact EthicScan president David Nitkin at [email protected]
for more information.