The five biggest mining fines of 2013

The five biggest mining fines of 2013

From breaching environmental laws to violating safety rules, as well as “forgetting” about financial regulations, these mining bad boys have done almost all of it… just this year. Let’s take a look at the top five biggest mining penalties of 2013, all above the one-million-dollar mark.

1. $1.68 billion

Eike Batista, owner of the EBX Group

The company MMX Mineração e Metálicos S.A. — EBX Group got a huge fine for unpaid taxes. The mining firm has been selling its assets due to serious financial problems, but the Brazilian authorities were looking and noticed there were some tax money missing.

2. $16 million

Anti-mining protests in Chile

Barrick Gold Corp. has to pay $16 million for violating the Chilean environmental regulation violations while mining in the country. The national environmental regulator imposed the maximum fine to the company.

3. $10 million

Gary Guidry, CEO of Griffiths Energy International

Griffith’s Energy – now called Caracal Energy – was convicted to pay a fine of $10 million for bribing African officials in Chad, in return for exclusive drilling rights in two locations.

4. $1.3 million

Eike Batista

Eike Batista is back on the list with a penalty of $1.3 million applied to its other company OGX, also from the EBX Group. This time, the fine was due to a violation of the antitrust legislation.

5. $1 million

Vale mine rescue team

The Brazilian company Vale had to pay $1 million for safety violations resulting in the death of two miners, in 2011. The tragedy happened when the workers were crushed by a massive run of ore and mud. The penalty was issued by the Ontario court.