Management & Strategy
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Swedish accompanies accused of violating rights in the Congo
Tuesday, 26 June 2012
Swedish companies are reported to have taken advantage of the
vulnerability in the African country, Democratic Republic of Congo
(DRC) and to exploit the vulnerable people there including children.
The non - political and non - region organisation, Swedwatch in
collaboration with another one, Diakonia examined the problems of human
rights violations, corruption and dangerous working conditions in gold
mining in eastern DRC.
The report "A lot of Gold, a lot of trouble" shows how the Swedish
company, Mineral Invest lack of basic corporate social responsibility
and respect for human rights in their operations in that part of the
Mineral Invest which is a relatively small company, illustrates the
problem that mineral extraction in post-conflict countries often bring
along with them.
attracts Swedish and European shareholders with profitable gold mining
in environmentally friendly and ethical profile. But analysis shows
that Mineral Invest does not fulfilled its promises of schools, jobs or
new roads for the local population.
The report also shows that Mineral Invest buy security services from
soldiers who belonged to a unit suspicion of ethnic cleansing of
minority populations. The soldiers accused of pushing local miners of
The money transactions Mineral Invest has done with the Congolese
state, via the state company SOKIMO, are difficult to trace. The lack
of transparency is serious. It is well known that the so-called
conflict minerals, like gold, previously funded both rebel groups and
the Congolese arm militia.
Mineral Invest's shares which are associated with this report are
traded on with the stock market broker, AktieTorget, and despite the
criticism carried on this report, it continues to market and sell the
The report calls on both Aktietorget, regulator Swedish FSA to improve
its guidelines for companies operating in high-risk post-conflict
Swedwatch is a non - religious and non- politically independent
research organization. Their purpose is to reduce social and
environmental ills associated with Swedish-related companies operating
overseas, particularly in low-wage countries, according to their
By Scancomark.se Team
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