Ban-Asbestos-India: Who will bear the cost of Asbestos liabilities of Asarco?

Wednesday, December 31, 2008

Who will bear the cost of Asbestos liabilities of Asarco?

Asarco, a subsidiary of third largest copper producer in the world Grupo México has filed for bankruptcy protection amid asbestos lawsuits. Asbestos companies are facing lawsuits for compensation from victims of asbestos diseases and are getting bankrupt in almost a routine manner. It is unpardonable for the Indian ministry of commerce to and industry to succumb to pressures from the domestic & international asbestos industry even as 50 countries have banned asbestos to safeguard their citizens.

The Vedanta group’s flagship firm, India-based Sterlite Industries has recently submitted a revised bid, which is believed to be $500 million less than its earlier offer of $2.6 billion, citing drop in the metal prices and financial crunch. announced the acquisition of Asarco on 31st May, 2008. Sterlite would become the world’s third largest copper miner with a combined capacity of 650,000 tonnes a year, if the Asarco deal closes.

One wonders whether Vedanta/Sterlite would also be responsible for the asbestos liabilities of the Grupo México's Asarco or the parent company would bear the cost of the damages its subsidiary caused to public health.

No comments:

Post a Comment

Ban on Asbestos is a Must

A study in a peer-reviewed journal had earlier estimated that there could be more than 6,000 workers affected by asbestosis (an untreatable lung ailment) and another 600 suffering at the minimum from asbestosis-related lung cancer in India at present. Occupational cancer from asbestos, the disease caused by emissions at the work place, poses an increasingly serious health problem. But the subject has attracted relatively little attention from industry, labour, public health bodies or the medical profession. Asbestos is one of the single largest sources of occupational cancer. Indian polticians are acting as if they are bonded workers of asbestos industry.

World Trade Center, New York collapsed Thousands of tons of asbestos became airborne.

Back in 1981, there was research coming out that Asbestos was cancer causing and this ad was in rebuttal to that research touting the benefits of using Asbestos. The text over the Twin Towers states, "When the Fire Alarm Went Off, It Took Two Hours to Evacuate New York's World Trade Center." I do not need to remind anyone of the images of September 11th and this ad. The copy below the ad goes on to mention all of the places that Asbestos was used in the World Trade Center. I can not not think of all of the innocent victims in the area that were exposed to all of the dust, smoke and inherent asbestos that was in the air after the buildings collapsed. The cloud of smoke went across the entire city and potentially exposed hundreds of thousands of individuals to asbestos. Hopefully there can be a cure or treatment for Mesothelioma before all of these potential victims are diagnosed.

Apex Court allocates meagre compensation for asbetsos victims

In 1995, the Supreme Court of India fixed Rs 1 lakh compensation amount and identified National Institute of Occupational Health (NIOH) as the final authority to certify asbestosis cases. Compensations are given through the Employees State Insurance Corporation (ESIC). Two workers in Ahmedabad Electricity Company diagnosed as having asbestosis by NIOH have been compensated by Gujarat High Court. Twenty-five workers in asbestos jointing and packing industry at Mumbai were compensated by the Special medical board of ESIC. The court ruled that the industrial units must maintain a health record of every worker up to a minimum period of 40 years; insure workers under the Employees State Insurance Act or Workmen’s Compensation Act and give health coverage to every worker.

Asbestos Victims

Every day estimated 30 deaths in India is under way due to the ongoing trade and use of white asbestos. 'Asbestos' in Greek means 'indestructible'. Greeks called asbestos the 'magic mineral'. Asbestos is a generic term, referring usually to six kinds of naturally occuring mineral fibres. Of these six, three are used more commonly. Chrysotile is the most common, accounts for almost 90 per cent of the asbestos used in the industry, but it is not unusual to encounter Amosite or Crocidolite as well. Though Crocidolite asbestos is banned in India, it can still be found in old insulation material, old ships that come from other countries for wrecking in India. All types of asbestos tend to break into very tiny fibre, almost microscopic. In fact, some of them may be up to 700 times smaller than human hair. Because of their small size, once released into the air, they may stay suspended in the air for hours or even days. Asbestos fibres are virtually indestructible. They are resistant to chemicals and heat, and are very stable in the environment. They do not evaporate into air or dissolve in water, and they do not break down over time. Because of its high durability and with tensile strength asbestos has been widely used inconstruction and insulation materials - it has been used in over 3,000 different products. Where do we use it? In India, asbestos is used in manufacture of pressure and non pressure pipes used for water supply, sewage, irrigation and drainage system in urban and rural areas, asbestos textiles, laminated products, tape, gland packing, packing ropes, brake lining and jointing used in core sector industries such as automobile, heavy equipment, petro-chemicals, nuclear power plants, fertilizers, thermal power plants, transportation, defence.

Make India Asbestos Free

Ban-Asbestos-India

Wednesday, December 31, 2008

Who will bear the cost of Asbestos liabilities of Asarco?

No comments:

Blog Archive

Footprints

Moments

Health Matters

Ban on Asbestos is a Must