Nevsun Resources
{{Short description|Former Canadian mining company}}
{{Use Canadian English|date=June 2020}}
{{Use mdy dates|date=January 2025}}
{{Infobox company
| name = Nevsun Resources
| logo = 300px
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| type = Public company
| traded_as = {{TSX was|NSU}}
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| location_city = Vancouver, British Columbia, Canada
| location_country = Canada
| key_people = Ian Pearce, Chairman
Peter Kukielski, CEO
Ryan MacWilliam, CFO
| industry = Metals and mining products
| products = {{hlist|Copper|gold|zinc}}
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| homepage = {{URL|zijinmining.com}}
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Nevsun Resources Ltd was a Canadian diversified mid-tier miner with a portfolio of base metal assets. The company was acquired by Zijin Mining Group Company Limited on December 29, 2018. Its three principal assets are its ownership interest in the Timok Project, a high-grade copper-gold development project in Serbia; its Bisha zinc-copper mine in Eritrea; and its balance sheet. The company also holds a number of additional exploration licences and permits in Serbia, Macedonia, and in the Bisha mining district.
Operations
The Timok Project became part of Nevsun Resources Ltd. through the acquisition of Reservoir Minerals Inc. on June 23, 2016. It is a joint venture between Nevsun and Freeport-McMoRan Exploration Corporation.{{cite web|title=Nevsun Resources Closes Reservoir Acquisition Creating a Diversified Mid-Tier Base Metal Company |url=https://www.prnewswire.com/news-releases/nevsun-resources-closes-reservoir-acquisition-creating-a-diversified-mid-tier-base-metal-company-584105411.html |website=prnewswire.com |date=June 23, 2016 |access-date=January 3, 2025}}
The Bisha Mine, located in Eritrea, is a volcanogenic massive sulfide ore deposit that commenced production in February 2011. It extracts gold, copper, and zinc.{{cite web|title=Bisha Project, Eritrea |url=https://www.mining-technology.com/projects/bisha-project/ |website=mining-technology.com |date=April 4, 2024 |access-date=January 3, 2025}}
In November 2014, three former employees of the Bisha Mine filed a civil suit in British Columbia against Nevsun Resources, alleging complicity in human rights abuses, including torture and forced labor.{{cite web|title=Nevsun lawsuit (re Bisha mine, Eritrea) |url=https://www.business-humanrights.org/en/latest-news/nevsun-lawsuit-re-bisha-mine-eritrea/ |website=business-humanrights.org |date=November 20, 2014 |access-date=January 3, 2025}} Nevsun's CEO at the time, Cliff Davis, responded by asserting that the allegations were unfounded and that the Bisha Mine adhered to international standards of governance and workplace conditions. In 2016, the Supreme Court of British Columbia ruled that the case could proceed in Canadian courts, a decision upheld by the British Columbia Court of Appeal in 2017.{{cite web|title=Nevsun lawsuit (re Bisha mine, Eritrea) |url=https://www.business-humanrights.org/en/latest-news/nevsun-lawsuit-re-bisha-mine-eritrea/ |website=business-humanrights.org |date=November 20, 2014 |access-date=January 3, 2025}} In February 2020, the Supreme Court of Canada confirmed that the case against Nevsun could proceed in Canadian courts.https://www.nytimes.com/2020/02/28/world/canada/nevsun-supreme-court.html{{dead link||date=January 2025}}
Human rights violations
In November 2014, three former employees of the Bisha Mine filed a civil suit in British Columbia against Nevsun Resources for complicity in torture, forced labour, slavery, and crimes against humanity.{{cite news|url=http://business.financialpost.com/news/mining/nevsun-takeover-talk|title=There are many good reasons for takeover interest in Nevsun — and one really big downside|newspaper=Financial Post|date=November 20, 2014|publisher=|accessdate=August 5, 2016|last1=Koven|first1=Peter}}{{cite web|url=http://www.huffingtonpost.ca/2014/11/21/mining-bisha-eritrea-nevsun-vancouver_n_6198394.html|title=Ex-Workers Claim Horrendous Abuse At Mine Owned By B.C. Firm|publisher=|accessdate=August 5, 2016}}{{cite web|url=http://www.businesswire.com/news/home/20141120006434/en/Canadian-Mining-Company-Nevsun-Resources-Accused-Complicity#.VHCYHPmUfQU|title=Canadian Mining Company Nevsun Resources Accused of Complicity in Torture, Slavery, and Crimes against Humanity in New Lawsuit - Business Wire|date=November 20, 2014|publisher=|accessdate=August 5, 2016}}
Company CEO Cliff Davis responded, saying: "We are confident that the allegations are unfounded. Based on various company-led and third party audits, the Bisha Mine has adhered at all times to international standards of governance, workplace conditions, and health and safety. We are committed to ensuring that the Bisha Mine is managed in a safe and responsible manner that respects the interests of local communities, workers, national governance, stakeholders, and the natural environment."{{cite web|url=http://www.stockhouse.com/news/newswire/2014/11/21/nevsun-resources-t-nsu-faces-allegations-human-rights-abuses-b-c-court|title=Nevsun Resources (T.NSU) faces allegations of human rights abuses in B.C. court-T.NSU-Stockhouse news|last=Stockhouse.com|publisher=|accessdate=August 5, 2016}}{{cite web|url=http://www.geeskaafrika.com/canadian-mine-in-eritrea-had-been-built-partly-by-defacto-slaves/3270/|title=Canadian Mine in Eritrea had been built Partly by Defacto Slaves - Geeska Afrika Online|last=geeskadmin|date=May 14, 2014|publisher=|accessdate=August 5, 2016}}
Nevsun has previously received criticism{{cite journal|title=Hear No Evil|url=https://www.hrw.org/node/112281/section/2|journal=Human Rights Watch|date=January 15, 2013|accessdate=April 16, 2014}} from Human Rights Watch for failing to exercise proper human rights due diligence when engaging with a country where forced labour is allegedly practiced.
A Human Rights Watch report released in January 2013 found that Nevsun Resources failed to take the risks of forced labour seriously and then struggled to address allegations of abuse connected to the Bisha Mine in Eritrea.{{cite news|url=https://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/nevsun-accused-of-turning-blind-eye-to-forced-labour/article7341010/|title=Nevsun accused of turning blind eye to forced labour|newspaper=The Globe and Mail|date=January 15, 2013|publisher=|accessdate=August 5, 2016|last1=York|first1=Geoffrey}} Eritrea's government maintains a “national service” program that conscripts Eritreans into prolonged and indefinite terms of forced labor, generally under abusive conditions. It is through this forced labor program that mining companies run the most direct risk of involvement in the Eritrean government's human rights violations.{{cite web|url=https://www.hrw.org/news/2013/01/15/eritrea-mining-investors-risk-use-forced-labor|title=Eritrea: Mining Investors Risk Use of Forced Labor|date=January 15, 2013|publisher=|accessdate=August 5, 2016}}
In 2016, the Supreme Court of British Columbia ruled that the case against Nevsun can proceed in the Canadian courts. The decision was upheld on appeal to the British Columbia Court of Appeal in November 2017. On January 26, 2018, Nevsun sought leave to appeal to the Supreme Court of Canada.{{cite web|url=https://www.reuters.com/article/us-eritrea-mining-nevsun-resources/nevsun-appeals-to-canada-supreme-court-in-eritreans-forced-labor-lawsuit-idUSKBN1FF2M5|title=Nevsun appeals to Canada Supreme Court in Eritreans' forced labor lawsuit|date=January 26, 2018|publisher=Reuters|accessdate=August 5, 2016}} In February 2020, the Supreme Court upheld the decision from the British Columbia Court of Appeal in Nevsun Resources Ltd v Araya, stating that the case against Nevsun can proceed in Canadian courts.{{Cite web|url=https://scc-csc.lexum.com/scc-csc/scc-csc/en/item/18169/index.do|title = Supreme Court of Canada - SCC Case Information - Search|date = January 2001}}{{Cite news|last=AFP|url=https://www.theguardian.com/world/2020/feb/28/canada-nevsun-eritrea-lawsuit-human-rights-slavery|title=Canada mining firm accused of slavery abroad can be sued at home, supreme court rules|date=February 28, 2020|work=The Guardian|access-date=February 28, 2020|language=en-GB|issn=0261-3077}}
See also
References
{{Reflist|30em}}
External links
- {{Official website|http://www.nevsun.com}}
{{Authority control}}
{{DEFAULTSORT:Nevsun Resources}}
Category:Companies formerly listed on the Toronto Stock Exchange