Difference between revisions of "Energem Resources"
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| − | African-focused | + | {{Template:Mining and Metals badge}}{{Template:Climate badge}} |
| + | 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== |
| − | + | 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". <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> |
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| − | [[ | + | ==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. <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> | ||
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| + | ==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.<ref>[http://minerals.usgs.gov/minerals/pubs/country/1996/9234096.pdf The Mineral Industry of Sierra Leone], by [[Philip M. Mobbs]], accessed 11 April 2008.</ref> which changed it's name again to [[Energem Resources]] in 2004.<ref>[http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article3107410.ece Energy firm link to blood diamonds], by [[Ben Laurance]], [[Sunday Times]], 30 December 2007.</ref> | ||
==Website== | ==Website== | ||
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==People== | ==People== | ||
| − | ===Directors=== | + | ===Directors in 2007=== |
*[[Brian Menell]] - Executive Chairman | *[[Brian Menell]] - Executive Chairman | ||
*[[Antonio Teixeira]] - Deputy Executive Chairman | *[[Antonio Teixeira]] - Deputy Executive Chairman | ||
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*[[Matthew Suttcliffe]] - Non Executive Director | *[[Matthew Suttcliffe]] - Non Executive Director | ||
| − | ===Officers=== | + | ===Officers in 2007=== |
*[[Theo Watson]] - Vice President, Corporate and Legal Affairs and Corporate Secretary | *[[Theo Watson]] - Vice President, Corporate and Legal Affairs and Corporate Secretary | ||
*[[Wayne Osborne]] - Snr Vice President – Petroleum | *[[Wayne Osborne]] - Snr Vice President – Petroleum | ||
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==Notes== | ==Notes== | ||
<references/> | <references/> | ||
| − | [[Category: Mining Industry]] [[Category:Mining and Metals]] | + | [[Category: Mining Industry]] [[Category:Mining and Metals]] [[Category:Climate Change]] [[Category:Oil Industry]] [[Category:Biofuels]] |
Revision as of 16:07, 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.
