Newmont: No Gold Standard

Paper Summary:

This paper describes the current troubles of Newmont, a gold mining company accused of polluting an area of Indonesia with excess levels mercury and arsenic. While it staunchly defends itself against these charges, it has also admitted to some degree of contaminant emissions. Though Newmont is attempting to placate the local population, it has largely alienated the population through a series of suits. Six Newmont executives are facing criminal prosecution over these accusations. This paper addresses a series of three questions concerning this case.

From the Paper:

"Because Indonesia has a long history of being targeted for development or resource removal by Multi-National Enterprises (MNEs), it has an established body of non-governmental organizations and environmental groups, both home-grown and imported, that regularly monitor the actions of MNEs. Newmont should have been more proactive about addressing environmental concerns prior to any outside involvement in the current contamination scandal. Though Newmont claims it is not responsible for the pollutants, and this may be so, most MNEs know intuitively that they are largely considered guilty by default unless clear cut evidence can be found relieving them of responsibility. However, Indonesia is a problematic region to begin with and presents some uniquely Indonesian issues to Newmont."

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