NEWS TRADES & COMMODITIES
India still reliant on imported bauxite Despite the fact that India has the fifth largest deposits of bauxite in the world, it remains a major importer of this commodity. In the first quarter of the 2021-22 financial year, which ended June 10, it imported bauxite worth $51.97 million, of which companies involved in bauxite mining, transport and processing were the main purchasers. Fifty per cent of India’s bauxite deposits are located in Odisha. However, the reliance on imported bauxite, most of which has been used in the domestic aluminium industry, has resulted in a foreign exchange loss over the last six years totalling $571 million. Indeed, imports have gone up 300% over the past six years, according to statistics released by India’s Ministry of Commerce. Barry Cross
President Biden moves to protect water resources from coal-related pollution Former President Trump’s decision to weaken regulations on coal ash has been rolled back by President Biden, in a clear move to put the environment back on the country’s agenda. In late July, the Environmental Protection Agency (EPA) announced that it would strengthen certain limits for coal plants that use steam to generate electricity. During his administration, President
Obama had introduced regulations to limit contamination of water sources like streams, lakes and underground aquifers, a move then overturned by Trump. On his first day in office, Biden signed an executive order directing the EPA to review all regulations and policies undertaken by the previous administration and rescind or revise any that do not protect public health and the environment; this recent decision is a
part of that larger decision. EPA Administrator Michael S. Regan says the agency “determined that moving forward with implementing the existing regulations would ensure that water resources are protected now, while we quickly move to strengthen water quality protections and further reduce power plant pollution that can contain toxic metals such as mercury, arsenic, and selenium”.
AUGUST 2021
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Photo: Arnold Paul.
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