The Campaign against Foreign Control of Aotearoa (New Zealand) - CAFCA - has just published a list of finalists for the Award of "The Worst Transnational Corporation" operating in the country in 2009 - the  so-called "Roger Awards".

For many years a panel of distinguished New Zealanders has deliberated on which of many candidate companies most deserved to be indicted as the most damaging, based on their environmental, social and economic performances.

This year, the ANZ banking corporation took the main prize.

And for the second year running, Rio Tinto was the runner-up (See also: http://www.minesandcommunities.org/article.php?a=9250

Rio Tinto wasn't the only mining company that got an award. Taking a supplementary "gold" (as it were) was Newmont Mining.

The following are extracts from the report:-

"There are just over 7,500 foreign-owned companies operating in New Zealand today. They represent only 2% of all firms in New Zealand - but their collective capital invested here is worth $91.4 billion, or 49% of Gross Domestic Product (GDP).

Many of these foreign-owned companies are huge transnational corporations, or subsidiaries of huge transnational corporations. These are the big, market-dominating companies like Telecom, Westpac, British American Tobacco, Progressive Enterprises, Carter Holt Harvey, Monsanto, the late and unlamented Tranz Rail, and the misleadingly named Bank of New Zealand - to name just some of the previous Roger Award winners. It is these big companies which are making huge profits from New Zealanders, and sending those profits back to their shareholders and head offices overseas.

Regardless of whatever other damage they may be doing to New Zealand society and the New Zealand environment, this expatriation of the profits of the investments of foreign-owned companies operating in New Zealand has a major negative impact on New Zealand's economic wellbeing. In 2008 $16.6 billion in foreign investment income left New Zealand and only $2.9 billion came in, leaving a huge net deficit of $13.7 billion or 7.5% of GDP.

To put that amount of money in context, it is more than the contribution of agriculture to the NZ economy, and the same amount that was spent by the State in the Health budget that year.

...This reason alone is a sufficient reason to show the door to most of the transnationals already operating in New Zealand, and to shut the door on any more trying to get in. But wait - it gets worse. All transnational companies expatriate their profits, and this is perfectly legal, if not desirable for the NZ economy. So in taking nominations for the Roger Award, and in picking the annual winner, the Campaign Against Foreign Control in Aotearoa is looking for something more. It is looking for outrageously bad behaviour by a transnational, behaviour which is legally or morally dubious, and socially or environmentally reprehensible...

Runner Up: Rio Tinto Aluminium

Second place went to Rio Tinto Aluminium. Rio Tinto has also been a finalist for the Roger in past years. As the judges noted, Rio Tinto's continual exploitation of the nation's energy grid and the subsidies that it receives from taxpayers and electricity suppliers has indirectly and negatively affected most New Zealanders. Further, its blithe disregard of the environment and its massive carbon dioxide emissions stand to negatively impact upon the country (and the world) for many years into the future. Rio Tinto is a worthy runner up.

Newmont Mining

Newmont Mining is an Australian-owned mining firm* which has been responsible for open cast and underground mining near the town of Waihi. The social and environmental costs of mining are particularly significant in Waihi with a recent report undertaking by Queensland University detailing that Waihi residents live with employment uncertainty, losses in property values (after all, who wants to live next door or on top of a mine?) and physical uncertainty, due to cavities opening up in the ground due to mining, which then proceed to swallow anything around it (in one case, this happened to be a house) For those with a longer memory, cast your minds back 31 years and think of Abbotsford in Dunedin (the suburb that literally slid down a hill).

*MAC editorial note: Newmont is a US company, listed on the New York Stock Exchange. Its ancillary listing on the Australian Stock Exchange was cancelled in February 2010.