Danish Pension funds criticised for investing in Chinese gold producer after miners were trapped

Photo curtesy: Bangkok Post

Two Danish Pension companies, PKA Pension, and PFA Pension are being criticized for each having invested approx. DKK 25 million into the co-owners of a Chinese gold mine where 22 miners have been trapped underground since 10 January.

According to Danwatch, the explosion causes speculation of safety standards and whether these are overlooked in the pursuit of profits. Last year alone, Danwatch was able to document that 53 miners have died in three separate incidents in China: 23 due to carbon monoxide poisoning, 16 workers in a fire, and 14 in an explosion.

According to Danwatch, The Chinese gold producer stayed silent about the explosion that ripped through the Hushan mine and left the workers trapped underground. The mine is located near the city of Qixia in the Shandong province of eastern China and because the incident was not reported at first, it delayed the rescue mission about 30 hours.

The two pension companies are amongst several Danish pension companies that have invested money into the co-owners of the Hushan mine. PKA Pension has invested in the gold producer Zhaojin Mining, and PFA Pension owns shares in Fosun International, a Chinese conglomerate that partly owns Zhaojin Mining.

PKA Pension states that when such an accident can be allowed to happen, something is not right and the company will look into Zhaojin Mining’s safety matters and reconsider whether to keep investing in the company.

Source: CPH Post

About Mette Larsen

ScandAsia Journalist • Scandinavian Publishing Co., Ltd. • Thailand

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