By: Malavika Krishnan, Research Associate at the Council on Hemispheric Affairs
June 11, 2014 · in Canada, COHA Research, Region, Resource Extraction
Public appearances are oftentimes diametrically opposed to private endeavors. Since the 1990s, Canadian mining investments have expanded worldwide. This consistent trend holds true in Latin America, where large-scale Canadian companies control approximately 50 to 70 percent of the region’s mining industries . In 2013, 29 percent of all global mining investment was undertaken in Latin America due to the their relative proximity to the United States and Canada, mineral-rich landmass, low tax burdens, and neoliberal economic policies . Canadian firms such as Barrick Gold, Yamana Gold, Teck, and Goldcorp, to name a few, now operate more than 80 mining projects in the region and have 48 more projects in the development stage . If the appropriate frameworks and institutions are established, mining could very likely serve as a springboard to advanced economic growth and even more fast-paced development. However, extractive processes can also be a source of corruption, social degradation, and environmental catastrophe, as again and again has been the case in Latin America . Thus, a dichotomy exists between mining by foreign investors who profit, and the communities in which it takes place which frequently are left by the wayside. The situation has worsened in recent years, resulting in conflict over the negative economic, social, and environmental aspects of the mining industry…. Read Full Article
Have seen firsthand the damage Canadian mining companies do to villages in Central America and it is truly evil. These people have no souls. It’s all about making money.