![]() ![]() There were no direct connections between the two mining regions, or at least none that we have uncovered, yet the array and depth of similarities between the two are striking. Map showing the Central African Copperbelt and Fushun coalfieldsĭespite significant political, cultural, and geographical differences, the way that labor was organized on racial lines was remarkably similar. We support this claim with an overview of production and everyday life in two seemingly very different mining regions: the Fushun coalfields and the Central African Copperbelt (see figure 1).įigure 1. Second, through this comparison to argue that the prevalence and significance of race as a way of organizing life and work in the mining industry has been underestimated. This article is about that basic fact, and in it we aim to make a two-fold contribution: First, it is a comparative history of mining regions, which, although it might seem an area of study ripe for comparison, is seldom undertaken. Yet anyone who visited either of these places would immediately and unavoidably have become aware of a basic fact about both: that racial hierarchies governed life and work on the mines. ![]() One on a high plateau stretched out across the border between what is now Democratic Republic of Congo and Zambia with a sub-tropical climate the other on the rolling foothills of Changbai Mountains in what is now Liaoning Province, northeastern China, with a humid continental climate. The US meetings will be held over four days, including in New York and Los Angeles, the person said.In many ways, the vast industrial complexes that developed on the Central African Copperbelt and the Fushun coalfields in the early twentieth century were very different places. The international roadshow began in Singapore and Hong Kong before moving to Dubai and London and will continue in the US, according to a person familiar with the matter, who asked not to be identified. An Adani family trust recently sold 154.5 billion rupees ($1.87 billion) of shares to US investment firm GQG Partners, helping power a recovery in stock prices. The Hindenburg report left investors with a string of questions, particularly on a refinancing plan for the $750 million Adani Green bond due 2024 and how the parent company will reduce debt. It said at the time that the payments were “consistent with promoters’ commitment to prepay all share backed financing before 31 March 2023.” The company said earlier this week that the founders had prepaid $902 million worth of borrowings backed by shares following another similar $1.1 billion prepayment in February. It added that equity share pledges were an inherently unstable source of borrowing because of the possibility of a margin call.Īdani has denied the accusations. It had expressed concerns over the founder’s shares in Adani Group companies being pledged for debt, saying that it was “effectively leveraging the group to the hilt”. The report from Hindenburg Research alleged stock manipulation and accounting fraud. The London meeting was part of a worldwide roadshow aimed at reassuring international investors that the ports-to-power empire’s finances are under control, after as much as $153 billion in combined market value was erased from company stocks following a January short seller’s report. A spokesperson for the company declined to comment. The people did not want to be identified as the talks were confidential. (Bloomberg) - Billionaire Gautam Adani and his family have prepaid all borrowings backed by Adani Group company shares, senior executives at the conglomerate told investors at a meeting in London on Wednesday, according to people who attended. ![]()
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