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Dump Super Fund shares in Freeport

Indonesia Human Rights Committe
Box 68 419
Auckland


2 November, 2006

Dump Super Fund shares in Freeport

The Indonesia Human Rights Committee (IHRC) is calling on the NZ Super Fund to stop investing in US mining giant Freeport McMoRan. Since 1967 Freeport has been mining copper and gold in Indonesian Military occupied West Papua. According to the Super Fund's Equity Portfolio (as at June 30 2006) it had investments worth $954,608 in Freeport. The company has a shocking record of human rights and environmental abuse.

"Every day Freeport's Grasberg gold mine dumps as much as 700,000 tonnes of mining waste into West Papua's rivers. They have completely destroyed the traditional lands that the indigenous Amungme and Kamoro people rely on for survival and have forcibly displaced people from their villages" said IHRC member Cameron Walker.

Freeport has also over the entire history of its operations in West Papua provided the Indonesian Military, who have killed around 100,000 Papuan civilians, with large amounts of money for 'security'.

"Whenever West Papuan people take protest action against Freeport they often end up dead. In the past the Indonesian Military has even bombed villages with cluster bombs after disruptions to the mine" he said.

In March this year large student demonstrations against Freeport broke out in Jayapura, West Papua's capital. Students were arrested, tortured and forced to confess to taking part in violence by the Indonesian Military and Police.
"The NZ government should not be investing taxpayer money in companies that rape the environment and support mass murder" he said.
The government of Norway has specifically stated that its US$240 billion oil fund is not allowed to be invested in Freeport McMoRan, due to its terrible environmental record.

"The New Zealand government should follow the Norwegian's lead and dump all Super Fund shares in Freeport McMoRan" added Walker.

Ends

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