ATM decries ADB’s planned investments in mining projects

Alyansa Tigil Mina (ATM) joined several civil society organizations in a creative protest action today at the Asian Development Bank (ADB) to strongly object to the bank’s planned investments in mining and its Critical Minerals for Clean Energy Technologies (CM2CET) approach.

Jaybee Garganera, ATM National Coordinator, said “The ADB is treading on a slippery slope as it intends to finance more extractivism at the expense of biodiversity, water resources and land rights.”

“Mining of critical minerals such as nickel and copper will potentially create ‘sacrifice zones’ – where governments and mining corporations sacrifice fragile island ecosystems, critical watersheds, and Indigenous Peoples’ and the community’s human rights for what is conveniently touted as the ‘greater good.’”

However, Garganera pointed out that CM2CET and “Climate Smart Mining” are a mere rebranding strategy to downplay the destructive impacts of mining. Similar to the concept of “responsible mining”, these new buzz words are meant to gain social acceptability for expanded mining operations to purportedly provide critical minerals in the “clean energy” transition.

“We take an unfavorable view at the CM2CET policy because critical minerals are not equivalent to transition minerals. Countries define what minerals are critical to their industries or national security. Different countries have different lists of critical minerals.  A critical mineral for Germany or the US is not necessarily a critical mineral for Indonesia or the Philippines. The question therefore is: Who is actually benefiting from extracting ‘critical minerals’, as defined by ADB?”

“We find the ADB embarking on a wrong pathway, potentially increasing the risks and vulnerabilities of mining-affected communities,” Garganera concluded.

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