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Enter Symbol
or Name
USA
CA



East Asia Minerals Corp
Symbol EAS
Shares Issued 110,221,582
Close 2013-04-29 C$ 0.15
Market Cap C$ 16,533,237
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Globe says East Asia raises ire of environmentalists

2013-04-29 06:41 ET - In the News

The Globe and Mail reports in its Saturday edition that East Asia Minerals (14 cents) is under attack for a proposal that could lead to the destruction of more than one million hectares of protected forests in a region of Sumatra known for its endangered wildlife. The Globe's Mark Hume writes that East Asia Minerals denies it is behind a plan to take a swath of protected forest and reclassify it as "production forest." The greens are blaming the company for a proposed deal that would open 1.2 million hectares of jungle to mining, logging and conversion to palm-oil plantations. Canadian adventurer Kevin Vallely says the rain forest is an international treasure that should be protected. He says, "Why would we want to cut down one of the world's most amazing forests?" The area is a UNESCO world heritage site. Green groups became alarmed recently when East Asia Minerals put out a press release announcing the Indonesian government "is close to accepting a proposal to open 1.2 million hectares of forest" in Aceh province. The press release said East Asia Minerals was aiming to obtain reclassification of the forestry zone from "protected forest" to "production forest."

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