UK Oppn wants Vedanta delisted from London Stock Exchange
London: The UK's Opposition, Labour Party, has called for Vedanta to be delisted from the London Stock Exchange following the death of 13 people during violent protests against the mining giant in Tuticorin, Tamil Nadu.
John McDonnell, the UK's Shadow Chancellor, said removing Vedanta Resources from the London financial markets would prevent reputational damage from the "rogue" company which has been operating "illegal" mining concerns for years.
"After the massacre of the protestors this week, regulators must now take action. Vedanta must be immediately delisted from the London Stock Exchange to remove its cloak of respectability, restore confidence in the governance of the Stock Exchange, and prevent further reputational damage to London's financial markets from this rogue corporation, McDonnell said in a statement on Friday.
Violent protests had erupted in Tuticorin on Tuesday as locals took to the streets demanding closure of a copper factory of the Vedanta group over pollution concerns.
"The news from Tamil Nadu that 13 protestors against Vedanta have been killed is shocking and demands action. This is a major multinational company that for years has operated illegal mining concerns, trashing the environment and forcibly evicting local people, he said.
The statement from the senior Labour MP, who highlighted that campaigners and international NGOs like Amnesty International have accused Vedanta of a string of human rights and environmental abuses in India, Zambia and across the globe, came as protesters are preparing to stage a major protest against Vedanta outside the Indian High Commission in London on Saturday afternoon.
Hundreds of protesters mobilised by groups such as Foil Vedanta, Tamil People in the UK, Periyar Ambedkar Study Circle, South Asia Solidarity Group, Tamil Solidarity, Parai Voice of Freedom and Veera Tamilar Munnani will stage protests alongside worldwide action to condemn the Tamil Nadu state government's "collusion" in what they have termed as corporate massacre .
Samarendra Das from Foil Vedanta also called on the UK government to investigate and delist this company.