World to banks: don't fund a mining catastrophe in Mongolia!
Right now Mongolia has one of the world’s fastest growing economies because of the minerals it owns, but nearly a third of the population still lives in poverty. Mongolia could become one of those countries that suddenly became very wealthy but its people remained very poor, the so-called ‘resource curse.’ But you can help break the curse.
The World Bank and European Bank for Reconstruction and Development will soon decide whether to fund a massive gold and copper mine in the Gobi Desert that could generate billions in revenues for the country. But in its current shape, the project will damage the environment and destroy the livelihoods of the local people that call the area near the mine home.
But there is still hope! We must convince the banks to improve the project by including measures that protect the climate, biodiversity and water for the people who rely most on those resources. Help raise a loud and a unified public voice that demands that the project brings real benefits for those most impacted.
- the Board of Directors and President, World Bank and EBRD
Make mining in Mongolia sustainable
We ask you to ensure that any loan agreement signed between the World Bank Group and European Bank for Reconstruction and Development and Oyu Tolgoi LLC is a sustainable one. In particular the agreement should address the most pressing outstanding issues with the project, outlined in the expert NGO recommendations and in particular related to water scarcity; biodiversity; the Undai River diversion; the compensation and consultation framework for impacted herders; technical aspects of mining operations; and the proposed coal-fired power plant.
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