India Consortium To By Large Canadian Asbestos Mine?
Imagine trying to buy an asbestos mine! Well, an Indian consortium is trying to do just that. Why? There is no ban on asbestos use in India, which makes it a sought after material.
Asbestos was once a very hot product in the markets. It was a miracle material that could be used anywhere heat and fire were a concern. Then someone realized people who were around it tended to have major health problems and eventually die from it. They say any PR is good PR, but this wasn’t the case with asbestos. A partial ban was put in place in 1989 and the bad news brought demand in the first world countries to a near halt.
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The key phrase in that previous paragraph was “first world countries”. While asbestos use in the United States has fallen off a cliff, it has exploded in countries like…oh…India! Given this, it is probably no surprise to learn that a consortium of companies from India is seeking to buy one of the last two Canadian asbestos mines.
The mine in question is the Jeffrey Mine located in…wait for it…Asbestos, Canada. Yes, the town is named Asbestos. Regardless, it has been under major financial pressure given the fact the demand for asbestos is way down. Well, not in India. The market is red hot there, so demand is up and this consortium knows a good thing when it sees it. Will the deal go through? It is hard not to see it doing so.
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So, what can we make of this? Well, I think it points to the inhumanity of…well, humanity. Here is a material shown to cause a host of health problems, most fatal, and yet groups are looking to continue to mine it and use it where the local population simply hasn’t figured out the threat yet and isn’t protected.
If I was an asbestos lawyer, I’d be moving to India about now!