#nevsun

[roadmap2retire]

2 Recent Buys

Another quick update on a few recent purchases. This market is giving some great buying opportunities in the resource sector and I continue buying and adding more to my portfolio. I added to my position in Nevsun Resources (NSU). For this particular transaction, I put my US$ to work as I had more US$ cash in my investment accounts, but for all reporting purposes, I will simply include the…

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[roadmap2retire]

3 Recent Buys

After having a quiet Q2, the number of purchases just in July are adding up. This post will document 3 recent purchases in my portfolio, couple of which borderline on speculation. The first purchase is a microcap gold exploration company and the other two are focused on copper. (more…)

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[jeremyslawjournals-blog]

Law Journal #14

“Eritrean leaders guilty of crimes against humanity: UN probe”

Summary:

The United Nations Commission of Inquiry on human rights said that the government of Eritrea, in power since 1991 was guilty of systematic enslavement, forcible conscription and other abuses. The COI has interviewed more than 800 Eritrean exiles, and they have concluded that crimes against humanity have been committed in a widespread and systematic manner in Eritrean detention facilities, military training camps and other locations. Eritrea has an annual per capita gross national income of US$480, and has denied UN investigators access to the country. It ranks below North Korea as the worst in the world for press freedom.

Legal Concepts:

International Law:

Eritrea is bound by international law to provide basic human rights to their citizens, however they are not doing so. There is little that the international community can do, other than to call for the perpetrators to be brought before the International Criminal Court. However, this would be a breach of sovereignty, which is something that countries are fond of doing.

Human Rights Law:

The Eritrean dictatorship has repeatedly shown its disregard for human rights, especially in its treatment of conscripts and prisoners.

Legal Questions:

What can the international community do?

The international community is unwilling to enter Eritrea and intrude on its sovereignty. Thus, it is difficult to bring those who has perpetrated the crisis to the International Criminal Court. There is no possible chance of the Eritrean courts convicting the perpetrators, as there is no judicial independence present in Eritrea.

Personal Response:

International Law is often (generally) non-binding, and Eritrea’s dictatorship has chosen to ignore the international community’s warnings. However, invading Eritrea would be a mistake. Looking at past failures such as Iraq and Afghanistan (Soviet War), the invasion of a country and the deposition of its leaders can cause a dangerous imbalance in the political system, with large power vacuums. Similar to the emergence of the Taliban and ISIS, there could be warlords who take over large parts of Eritrea if a war is declared by the international community. However, the international community can help by actively embargoing Eritrea, and not allowing the government to function properly. This includes the Canadian mine that is run by Nevsun and built in Eritrea. There were documented human rights abuses creating the mine, however, this report only condemns the operation of the mine more. Canada should not be actively involved in propping up a dictatorship that is denying the human rights of millions of Eritreans.

Source: 

http://www.channelnewsasia.com/news/world/eritrean-leaders-guilty/2855568.html

Date: 

June 8, 2016 (20 minutes)

[caesarsreport]

Saturday Read: Vendetta Mining raises C$2.5M, backed by RCF and Solitario

Saturday Read: Vendetta Mining raises C$2.5M, backed by RCF and Solitario

Vendetta Mining (VTT.V) has now closed its private placement after it had to increase the size of the placement twice due to strong investor demand. The $2.5 million financing comprised 50 million units at C$0.05 with a full warrant attached for two years at C$0.10.  Almost half the financing was placed with Resource Capital Funds (‘RCF’), Solitario Exploration and Management. Whereas the…

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[africanperspectives]

Canadian Mining Company use Forced Labour in Eritrea

Image Credit

Interview with Binega Markos, a Vancouver based Eritrean, on Nevsun Resources mining operation in Eritrea.

Recently Canadian Business Magazine published an article about the use of forced labour by Canadian mining company Nevsun in Eritrea. The Eritrean situation is part of a wider trend in resource grabbing in Africa by multinational corporation, including Canadian ones.

Listen to our interview here

Another article on the topic was published here

[btseyti]

[worklabournewsresearch]

Eritrea: Mining Investors Risk Use of Forced Labor Canadian Firm Failed to Adequately Address Issue

The Globe and Mail, January 15, 2013: Nevsun accused of turning blind eye to forced labour

Human Rights Watch, January 15, 2013: Eritrea: Mining Investors Risk Use of Forced Labor...

The 29-page report, “Hear No Evil: Forced Labor and Corporate Responsibility in Eritrea’s Mining Sector,” describes how mining companies working in Eritrea risk involvement with the government’s widespread exploitation of forced labor. It also documents how Nevsun – the first company to develop an operational mine in Eritrea – initially failed to take those risks seriously, and then struggled to address allegations of abuse connected to its operations. Although the company has subsequently improved its policies, it still seems unable to investigate allegations of forced labor concerning a state-owned contractor it uses.