India’s Goa state, which exports more than half the nation’s iron ore, banned all mining after a panel of experts said the province’s government lost an estimated 349.4 billion rupees ($6.3 billion) because of illegal mining. Trading and transportation of minerals that have already been mined will be allowed after scrutiny, according to the Goa …
Format: Aside
Sep 13
The Water-Energy Nexus
Energy generation and resource extraction are dangerously connected to the large use of water resources. Coal, nuclear and natural gas power plants drink up half the freshwater withdrawn from US rivers. The threat appears most acute in Asia, where rivers are being diverted to feed thirsty coal-fire power plants: India and China alone plan to …
Sep 12
Commodities markets: food price rush
In 2012 the price of soy grew over 30%, and this summer wheat and corn hit respectively +30% and +38%. In the last six months of 2010 alone, more than 44 million people were driven into extreme poverty as a result of rising food prices. At the same time, banks and financial investors are making …
Sep 12
BBA warned banks on LIBOR-EURIBOR rate-rigging
The British Bankers’ Association (BBA) issued a warning to banks in April 2008 to “submit honest rates” to its Libor setting panel. One email, dated 21 May 2008, appears to show that Angela Knight, the chief executive of the BBA, was aware of the potential for banks to submit rates not reflecting the price at …
Sep 11
Twist on Alcoa’s plant in Sardinia
Italian Ministry of Development Corrado Passera shows today an opening on negotiations to find alternative investors for the aluminium plants in Sardinia isle. After denying the Ministry received firm bids to buy the installations (here), he denies he “ever said it is a mission impossible” (here) and invites Glencore and Klesch (that put their bids in …
Sep 11
Denmark, 100% RES by 2050
The most ambitious plan for the exploitation of renewables energy sources passed the vote of the Parliament of Denmark in March. It paves the road to total transition to renewables by 2050 and sets the goal of 35% of energy generation from RES by 2020. 50% of the final target energy supply will be generated …
Sep 09
The mysterious bids on ALCOA’s plant in Sardinia
The Italian government has received only generic expressions of interest in Alcoa Inc’s loss-making aluminium plant on the island of Sardinia and there is no firm bid on the table, Industry Minister Corrado Passera told Reuters on Sunday. But Unions and Regione Sardegna disprove and say that Glencore and Klesch are interested and made their …
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