How Mining Companies Steal Africa's Wealth

29 Jan 2013

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Rüschlikon is a village in Switzerland with a very low tax rate and very wealthy residents. But it receives more tax revenue than it can use. This is largely thanks to one resident - Ivan Glasenberg, CEO of Glencore, whose copper mines in Zambia are not generating a large tax bounty for the Zambians -- but feeding a life of luxury for the villagers of Rüschlikon.

Zambia has the 3rd largest copper reserves in the world, but 60% of the population live on less than $1 a day and 80% are unemployed. Based on original research into public documents, the film describes the tax system employed by multinational companies that operate in Africa. It shows how Africa's wealth is stolen.

© Why Poverty

You can find this page online at http://sacsis.org.za/site/article/1556.

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