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Foreign investment

No Newmont clean-up for Buyat Bay

Down to Earth No. 70, August 2006

Reclamation activities in Sulawesi by Newmont Minahasa Raya, the gold mining company majority-owned by US-based Newmont Mining Corp, are not dealing with the huge amounts of waste dumped in the sea.

Rio Tinto in new Sulawesi nickel project

Down to Earth No. 70, August 2006

A dramatic rise in the price of nickel is prompting the development of a major new nickel mine in Sulawesi. What will be the impacts for local people and their environment?

The Indonesian government and Anglo-Australian mining multinational Rio Tinto are negotiating the terms of a contract to develop the La Sampala nickel deposit on the borders of Southeast and Central Sulawesi. Spokesman for Rio Tinto in Indonesia, Anang R Noor, said the company plans to invest US$1 billion in the project.

DTE Factsheet: FOREIGN DIRECT INVESTMENT

DTE Factsheet, May 2006

What is FDI?

Foreign Direct Investment (FDI) is an important feature of an increasingly globalised economic system. It occurs when a company based in one country makes a long-term investment in a company located in another country. The 'home country' company may gain partial or total control of the 'host country' company. The direct investor does this by purchasing an existing overseas enterprise, providing capital to start a new one or buying 10% or more of it.

New mine will mean more marine pollution in Sulawesi

Down to Earth No 68  February 2006

Villagers and NGOs are trying to stop a British-registered company developing a gold mine which could drastically affect the livelihoods of fisherfolk living in Rinondoran Bay, North Sulawesi.

Protests in Jakarta by community representatives from North Sulawesi against gold mining and its impacts on the marine environment, livelihoods and human health: the words 'Newmont', 'Buyat Bay' and 'STD' quickly spring to mind.

One step forward, two steps back

Down to Earth No 68  February 2006

United Fiber System (UFS) is going ahead with a wood chip mill and paper pulp plant in South Kalimantan as well as running the Kiani Kertas plant in East Kalimantan - all in the face of international opposition.

UFS received a boost to its plans to become one of the world's major paper pulp producers when the Indonesian Supreme Court ruled in its favour in a dispute between the company and the Indonesian government in early October 2005.

The borders megaproject

Down to Earth No 68  February 2006

The government is pressing ahead with plans to create a huge plantation zone along the Indonesia-Malaysia border, despite concerns raised by Indonesian and international NGOs and forest researchers and donors.

Indonesian NGO Greenomics revealed in February that East Kalimantan has allocated 215,000ha in three districts to be cleared as part of the plantation. The area includes 17,000ha of government-funded community plantations.

ADB to fund BP's Tangguh gas project

Down to Earth No 68  February 2006

Despite protests from NGOs, the Asian Development Bank has approved a loan for BP's giant Tangguh gas project in West Papua.

In December 2005, the Asian Development Bank (ADB) decided to put US$350 million towards the $5.5 billion gas extraction and liquefied gas processing plant, now being developed by Anglo-US multinational BP, in Bintuni Bay, in the western part of West Papua.

This project has attracted critical attention because of the actual and potential impacts on local people and the e