Difference between revisions of "Energem Resources"
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| − | Energem Resources, formerly known as [[DiamondWorks]] was an African-focused mining and energy company that declared bankruptcy in February 2011.<ref>The Telegraph newspaper. Rowena Mason [http://www.telegraph.co.uk/finance/newsbysector/energy/8336690/Energem-goes-into-bankruptcy-without-telling-shareholders.html Energem goes into bankruptcy without telling shareholders] 21 Feb 2011. Accessed 21/02/2012</ref> | + | '''Energem Resources''', formerly known as [[DiamondWorks]] was an African-focused mining and energy company that declared bankruptcy in February 2011.<ref>The Telegraph newspaper. Rowena Mason [http://www.telegraph.co.uk/finance/newsbysector/energy/8336690/Energem-goes-into-bankruptcy-without-telling-shareholders.html Energem goes into bankruptcy without telling shareholders] 21 Feb 2011. Accessed 21/02/2012</ref> |
==Bankruptcy== | ==Bankruptcy== | ||
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==Blood diamond connections== | ==Blood diamond connections== | ||
| − | According to the Telegraph newspaper: | + | According to the ''Telegraph'' newspaper: |
:The company, formerly known as DiamondWorks, was once involved in the "blood diamonds" mining industry, where illegally traded gems were used to finance African civil wars in the 1990s. | :The company, formerly known as DiamondWorks, was once involved in the "blood diamonds" mining industry, where illegally traded gems were used to finance African civil wars in the 1990s. | ||
Latest revision as of 16:31, 21 February 2012
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This article is part of the Mining and Metals project of Spinwatch |
Energem Resources, formerly known as DiamondWorks was an African-focused mining and energy company that declared bankruptcy in February 2011.[1]
Contents
Bankruptcy
According to the Telegraph newspaper:
- Energem Resources was put into administration after it could not recover $54m (£33m) owed by companies linked to its deputy executive chairman Tony Teixeira.
- The company had already come under scrutiny in 2008 for buying a corporate jet for $8m (£5m) from a business controlled by Mr Teixeira and Brian Menell, Energem's executive chairman. It justified the purchase by arguing the jet was a "key strategic asset" needed to ferry its management to "any location in Africa on short notice". [2]
Blood diamond connections
According to the Telegraph newspaper:
- The company, formerly known as DiamondWorks, was once involved in the "blood diamonds" mining industry, where illegally traded gems were used to finance African civil wars in the 1990s.
- However, it relaunched as a "green" African biofuels business - called Energem Resources - when it listed on London's Alternative Investment Market (AIM) in 2007. It claimed to have severed links with its past management. [3]
History
Energem is descended from Branch Energy which was acquired by Carson Gold Corp. of Canada in October 1996. Carson Gold simultaneously changed its name to DiamondWorks Ltd.[4] which changed it's name again to Energem Resources in 2004.[5]
Website
People
Directors in 2007
- Brian Menell - Executive Chairman
- Antonio Teixeira - Deputy Executive Chairman
- Dimitri Kanakakis - Chief Executive Officer
- Robert Rainey - Chief Financial Officer
- Bruce Holmes - Non Executive Director
- Anthony Clements - Non Executive Director
- Richard Dorfman - Non Executive Director
- Peter Wray - Non Executive Director
- Matthew Suttcliffe - Non Executive Director
Officers in 2007
- Theo Watson - Vice President, Corporate and Legal Affairs and Corporate Secretary
- Wayne Osborne - Snr Vice President – Petroleum
- Mario Teixeira - Vice President – Logistics and Industrial
- Tom Swithenbank - CEO of Energem Biofuels
Notes
- ↑ The Telegraph newspaper. Rowena Mason Energem goes into bankruptcy without telling shareholders 21 Feb 2011. Accessed 21/02/2012
- ↑ The Telegraph newspaper. Rowena Mason Energem goes into bankruptcy without telling shareholders 21 Feb 2011. Accessed 21/02/2012
- ↑ The Telegraph newspaper. Rowena Mason Energem goes into bankruptcy without telling shareholders 21 Feb 2011. Accessed 21/02/2012
- ↑ The Mineral Industry of Sierra Leone, by Philip M. Mobbs, accessed 11 April 2008.
- ↑ Energy firm link to blood diamonds, by Ben Laurance, Sunday Times, 30 December 2007.
