January 28, 2021
Aerial photos of the region affected by the rupture of the Córrego do Feijão mine, in Brumadinho, Brazil, in January 2019.
Credit: Flickr/Palácio do Planalto
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Two years ago this week, the global mining industry felt the ground crumble beneath its feet. At the decommissioned Córrego do Feijão iron ore mine in Brazil, a tailings dam suddenly collapsed, unleashing a wall of toxic sludge that roared through the serene valleys around the city of Brumadinho.
Security cameras captured the disaster in stomach-churning detail, including the horrifying moment when the earthen dam burst. An estimated 270 people died, many buried alive by the sludge. The area’s rivers and ecosystems are likely to be polluted for generations. The former CEO of Vale, which owns the mine, faces homicide charges in a Brazilian court.
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Anil Ambani is a fitness enthusiast and also a seasoned long-distance marathon runner, with over 50 half and full marathons to his credit.
His other interests include nature, wildlife conservation and spiritualism.
Last Updated: 15/02/2021
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25 Jan, 2021 Author Aries PoonRebecca IsjwaraMohammad Abbas Taqi
Despite rising global systemic risk scores of Chinese megabanks, their predominantly domestic footprint and the limited overseas use of the yuan suggest a low likelihood of them triggering a Lehman-like global financial crisis in an event of a bank failure, experts say.
Among 30 global systemically important banks, or G-SIBs, China Construction Bank Corp. was the only institution that moved to a higher bucket in the latest annual assessment by the Financial Stability Board based on end-2019 data. The total G-SIB score of Industrial & Commercial Bank of China Ltd., the world s largest bank by assets, rose for the fifth consecutive year, Agricultural Bank of China Ltd. s score rose for the third straight year, while Bank of China Ltd. s score was largely flat after rising for four years, according to the FSB and S&P Global Market Intelligence.
January 19, 2021
In December 2020, the “El Aromo” solar energy project was approved in coastal Manabí province, Ecuador. Operated by the Spanish company Solarpack, the project is expected to transform national solar output. El Aromo will occupy 2.9km2 of land that was previously cleared to build a multi-billion dollar oil refinery, plans that have since been abandoned. While El Aromo holds symbolic significance, it remains uncertain whether the project will mark a significant step toward more environmentally sustainable energy development in Ecuador.
The recent history of energy in Ecuador is dominated by oil–its central role in the country’s export economy as well as its devastating environmental impacts in Amazon regions, suffered by Indigenous groups in particular. While the country hosts high hydropower capacity and continues to build new hydroelectric plants, only recently has the government significantly expanded support for other low-carbon energy sources.
BusinessWorld
January 13, 2021 | 12:01 am
CHINA PLANS to allow some commercial banks to start selling soured personal loans to distressed asset managers as soon as this month, according to people familiar with the matter.
At a December meeting by the official credit assets transfer center, banks and state-run bad-loan managers were asked to accelerate preparations to ensure a smooth start of the trial program in January, said the people, asking not to be identified as the matter is private. Industrial & Commercial Bank of China Ltd. (ICBC) could be the first seller, other people said.
Details of the trial are not yet finalized and still subject to approval by the China Banking and Insurance Regulatory Commission (CBIRC), said the people.