Freeport-McMoRan Copper & Gold and Royal/Dutch Shell, A Comparison:
Fri., Feb. 23, 1996
Company value (# of shares times share price) $6.8 billion $120 billion
Country of operation Indonesia Nigeria
Type of government dictatorship military junta
Year minerals extraction began 1972 1958
Value of minerals extracted in 1995 $1.8 billion $1.5 billion
Profits earned on the operations in 1995 $199 million $180 million
Indigenous tribes located in area of extraction Amungme, Dani Ogoni
Royalties paid to indigenous people $0 $0
Rent paid to indigenous people $0 $0
Comments from environmental reports OPIC said "the Project has created The World Bank said
released last year and continues to pose unreasonable there was "poor or no
or major environmental, health, or treatment of effluents
safety hazards with respect to the by Shell."
rivers that are being impacted by
the tailings, the surrounding terrestrial
ecosystem and the local inhabitants."
Sources: The New York Times, Freeport-McMoRan Copper & Gold, OPIC, Shell Oil, Shell Nigeria home page on the WWW, Smith Barney, E-Trade, Securities & Exchange Commission EDGAR database. -- R.B.
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