ATLANTA – Two years ago, chemical producer The Chemours Company stated publicly it had no plans to mine titanium near the environmentally fragile Okefenokee Swamp.
Now, 20 investors representing nearly $700 billion in assets are asking Chemours to make that commitment permanent.
A letter spearheaded by mutual fund company Green Century Capital Management and signed by 19 other investors praises Chemours for its 2022 pledge not to do business with Twin Pines Minerals, the Alabama-based company planning to mine titanium oxide at a site along Trail Ridge near the largest blackwater swamp in North America.
The letter points out that since then, the Georgia Environmental Protection Division (EPD) has released draft permits for the project for public comment, potentially raising the stakes.
“Investors agree that the Okefenokee is the last place Chemours should set up shop,” said Leslie Samuelrich, president of Green Century. “Mining at this ecological gem would expose the company to a whole lot of business risks that, quite simply, aren’t worth the reward.”
Specifically, the letter cites scientific studies released since Chemours made its 2022 commitment that show the proposed mine would significantly damage the Okefenokee by drawing down its water level, increasing the frequency of drought and wildfires.
The investors also argue the project could be blocked in the General Assembly by legislators who have introduced a bill prohibiting mining on Trail Ridge. While the measure made no headway this year, supporters are expected to reintroduce it in 2025.
The U.S. Fish and Wildlife Service has put the EPD on notice that federal law prohibits diverting water from the Okefenokee National Wildlife Refuge.
Another potential obstacle to opening a mine near the swamp is that the Okefenokee was nominated last year as a UNESCO World Heritage site.
“The Okefenokee is a precious resource worthy of protection over profit,” said Sister Jean Sliwinski, provincial sustainability coordinator for the Felician Sisters of North America, a co-signer of the letter. “We are grateful for Chemours’ commitment and ask that they take the next step to prevent mining in this area.”
Twin Pines executives have said the proposed mine would not harm the swamp.