logo
Home

Search tew.org


What's New

Reports

Wildlife

Geography

Development

Zone of Peace

Dalai Lama

Publications

Announcements

Links

Site Map

*

*

Development

Sino Gold Pulls Out of Tibet

[Source: Australia Tibet Council; Business Report, South Africa, February 1, 2004; Courtesy of Tibet Justice Center.] Australia based Sino Gold Limited has announced that the company has cancelled its plans to mine gold in Tibet. This decision marks a victory for an international coalition of Tibetan rights advocates, led by the Australia Tibet Council, that have been trying to stop Sino Gold from mining Tibetıs gold.

Welcoming Sino Goldıs decision, Paul Bourke of Australia Tibet Council said, "We're pleased that Sino Gold has chosen to do the right thing." "Tibet's gold and other resources rightfully belong to the Tibetan people. We believe it is irresponsible to extract non renewable resources while Tibetans are unable to exercise their internationally recognised human rights, including deciding how their resources should be used." Although Sino Gold said its decision was economic, based on the low quality of gold ore at the site, it is clear that pressure from activist groups played an important role. South Africa based Gold Fields, a partner company of Sino Golds, had brought up the "Tibetan issue" at an internal executive meeting between the companies even though Gold Fields was not directly involved in Jinkhang, Tibet.

Gold Fields has a 10 percent stake in Sino Gold and a 50-50 joint venture with Sino to acquire and explore gold properties in Shandong Province, China's richest gold producing region. "With solid prospects outside (Tibet), this one project had to be weighed against the potential damage that staying in Tibet could do to all shareholders' corporate reputations," said Business Report.


Back to Development List

*


Home | What's New | Reports | Wildlife | Geography | Development | Zone of Peace | Dalai Lama | Publications | Announcements | Links | Site Map

Copyright 1998-2005, Tibet Environmental Watch (TEW)