Xstrata offices targeted in London demonstration

Xstrata offices were ‘occupied’ by demonstrators in London yesterday, supposedly in a protest over executive pay. Over 20 arrests were made.
Lawrence Williams -http://www.mineweb.com/mineweb/view/mineweb/en/page72068?oid=140779&sn=Detail&pid=92730

1 December 2011
LONDON – In an incident that suggests multinational mining companies may be major targets for anti-capitalist demonstrators, Xstrata’s London offices were the target for protestors believed to be associated with the ‘Occupy’ movement in London yesterday. The demonstrators stormed the office building in which Xstrata is headquartered and unfurled banners from the roof in a move which was timed to coincide with a huge day of strikes in the UK to demonstrate against public service cutbacks and pension reductions, presumably as the ‘Occupy’ demonstrators felt the police would otherwise be stretched in monitoring the peaceful public service rally.
According to reports in the UK press, Xstrata was targeted because of the company CEO, Mick Davis’s presumed huge pay package at a time much of the country is subject to government imposed austerity measures. A spokesman for the demonstrators said that Davis was the highest paid executive of any FTSE 100 company last year.
The police cleared the demonstrators from the building amidst some violent scenes and over 20 arrests were made.
In response to the claims an Xstrata spokesperson was quoted by the BBC as saying “Xstrata confirms that a number of protesters have attempted to enter the company’s offices in central London today. All executive pay is approved by the company’s shareholders and is linked to company and individual performance.
“Last year Xstrata delivered its second best financial performance since inception, with an 86 per cent increase in profits, record cost savings, improved safety performance and total shareholder returns substantially greater than the FTSE 100 average.”
The mining sector can be an easy target as the industry finds it hard to shake off a negative image. There were protests from the‘Occupy’ movement and others at the BHP Billiton AGM in October and demonstrators are being urged to join a protest march picketing Rio Tinto in London today.