The World Bank has come under pressure to justify which non-government organisations charged does little to alleviate poverty and wreaks environmental havoc. (…)
The IFC [ World Bank unit that provides loans and equity investments to the private sector] has invested more than 100 million dollars in Newmont Mining Corp’s Yanacocha gold mine in Cajamarca (…) I
It also approved loans totalling 125 million dollars to Newmont Mining’s Ahafo gold mine in Ghana (…). “In none of these cases has the IFC demonstrated that poverty reduction and development benefits generated by the projects outweigh their negative impacts,” [an report from non-governmental organisations] (…) said. Mine operations also typically require only a small number of skilled workers for positions not usually suited to poor local workers, it said. more
At the Wordbank´s Webpage you can download a new study: Mining Royalties: A Global Study of their Impact on Investors, Government, and Civil Society.