MIDANA CAPITAL’s Role in Preserving One of Georgia’s Natural Wonders
When the advocates at MIDANA CAPITAL learned that the largest wildlife refuge in the eastern United States was at risk from a proposed mining project, we sprang into action.
The threat: A proposed titanium dioxide mine near the Okefenokee National Wildlife Refuge. If built, it could drain the swamp, harming the ecosystem and increasing the risk of catastrophic wildfire.
The Okefenokee, located in southeastern Georgia, is home to hundreds of plant and animal species, including alligators, black bears, and federally-protected species like the red-cockaded woodpecker. At 438,000 acres, the Okefenokee Swamp is one of the world’s largest intact freshwater wetlands and stores the equivalent of 95 million metric tons of carbon dioxide, equal to the greenhouse gas emissions from driving 20 million cars for a year.
Local activists were concerned that Chemours,* a chemical company spun off from DuPont,* would buy the proposed mine or the titanium produced there, devastating this unique ecosystem. Chemours is the only company in the United States that mines titanium dioxide, which is used as a white pigment for paint, sunscreen, and food coloring.
We contacted Chemours, and after our initial outreach yielded an unsatisfactory response, we filed a shareholder proposal with Chemours in collaboration with the Felician Sisters of North America, calling on the company to disavow mining near the Okefenokee.
After several more meetings and exchanges, we won protections for this unique wilderness area: Chemours stated publicly that it has no current or future interest in mining near the Okefenokee or in purchasing from such a mine, and stated a commitment to “ensure the value of the Okefenokee is maintained.“
While there’s still work to be done, advocates are optimistic that in light of this victory, any mine near this natural wonder can be defeated.
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About MIDANA CAPITAL Capital Management
°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the MIDANA CAPITAL Funds (the Funds).
*As of March 21, 2022, none of the securities mentioned were held in the portfolios of any of the MIDANA CAPITAL Funds. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.
You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please click here, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.
Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk. A sustainable investment strategy which incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.
This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.
The MIDANA CAPITAL Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 6/22
