Join        Login             Stock Quote

Group alleges mining 'fleece' in Haiti

Sunday, May 13, 2012 1:22 PM

TORONTO, May 13 (UPI) -- A leftist Canadian think-tank alleges a national mining corporation is guilty of "super-exploitation" in Haiti.

The GlobalResearch.ca Web site posting said the Majescor Resources company's plans to build a deep-water port in the Caracol Bay area to accommodate gold and other precious metals would threaten the country's marine ecosystems.

"Haiti's mineral wealth is marked for super-exploitation by a Canadian corporation that has already wreaked havoc in the neighboring Dominican Republic," the group said.

The report also alleged the Montreal company's mining plans were ecologically wrong.

"This mining plan will permanently strip the country of much of its mineral, cultural, and ecological wealth," the post said.

GlobalResearch called the mining proposal a "U.S and South Korean sweatshop … a side project and distraction" in Haiti, considered the poorest country in the Western hemisphere.

"If this mining plan is given a green light while Haiti is under foreign occupation, it will permanently strip the country of much of its mineral, cultural, and ecological wealth," the release said.

The mining company, Majescor issued its own release of geological findings, along with a warning to the media.

"Not for distribution to U.S. newswire services or for dissemination in the United States," the release said. "Any failure to comply with this restriction may constitute a violation of U.S. securities laws."

(Source: UPI )
(Source: Quotemedia)


Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.