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Placer Dome accused of inadequately disclosing environmental liabilities
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Placer Dome is failing to disclose major environmental liabilities at several of its mine site around the world, the company’s annual meeting was told April 24. “Placer Dome's unwillingness to deal openly and forthrightly with pressing mine reclamation costs in Montana, the dumping of tons of toxic mine waste into rivers in Papua New Guinea and the ongoing and escalating aftermath of the tailings spill in the Philippines should be a cause for concern to all company shareholders” said Alan Young, Executive Director of the Environmental Mining Council of BC. “There's real economic and environmental dangers to the current approach of the company's senior management.” While human rights and environmental protesters demonstrated outside the annual meeting of the Canadian gold mining company, speakers presented CEO Jay Taylor with statements alleging lack of disclosure and action to address potential costs of environmental damage at several mines around the world. The group cited:
“In the past few years Placer Dome has gone from being viewed as a potential leader to a laggard when it comes to sustainability and environmental performance,” said Stephen D'Esposito, President of the Mineral Policy Center in Washington D.C. “Placer Dome's promises have not been translated into action, creating a real credibility gap for the company. This lack of action should send cautionary signal to the public, governments and investors." For more information, visit the Environmental Mining Council of British Columbia
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