Italian Prime Minister Mario Monti will send three ministers to Taranto, southern Italy, to try and prevent a shutdown of Europe’s biggest steel mill, Italian media said on Sunday.
Monti is also checking with legal experts to see if he can intervene in a dispute over pollution by the ILVA steel plant, which provides work for 20,000 people in a region where unemployment exceeds 30 percent, the Ansa news agency reported.
That is roughly three times the national average.
Photo: AFP
Production at the plant is threatened by pollution that has led local judge Patrizia Todisco to say she could not foresee pursuing operations while an investigation into a possible “environmental catastrophe” is carried out.
Monti has told Italian Economic Development Minister Corrado Passero, Environment Minister Corrado Clini and Justice Minister Paola Severino to go to Taranto on Friday, Ansa said, quoting government sources.
“Measures taken by the judge contradict what was set up by the environment ministry and do not take into account work that has already been done and the ministry’s role,” Clini said late on Sunday.
He had warned in an interview earlier in the day against suspending operations at the giant steel plant.
“When we talk about suspending production, we must take responsibility” for possibly boosting rival steel makers in Europe and China, Clini told the Italian daily Corriere della Sera.
“Italy will lose out whereas I see plenty of European competitors waiting in the wings, not to mention the Chinese, who would profit enormously,” he added.
“I’m not just talking about the 20,000 employees that depend on ILVA, but other sites in Italy that use ILVA’s production,” the minister said. “Who will provide the Italian economy with steel?”
The plant’s operators were last week ordered to clean up pollution some blame for high local cancer rates, a ruling that could mean suspending output and losing business.
ILVA chairman Bruno Ferrante told Corriere della Sera that “saying no to production means stopping the heart of the company, its reason for being.”
The site has witnessed a fierce stand-off between those who want it closed and thousands of families that depend on it for jobs amid a chronic economic crisis.
On Friday, Todisco notified the plant’s managers that she could not “foresee using the site ... for production purposes” while chemicals from the factory were cleaned up. ILVA is appealing the decision.
The clean-up order did not specify if the factory would have to close while the work was undertaken.
An Italian study last year found that the southern Italian city suffered from a “mortality excess” of between 10 and 15 percent, due to the release of dioxin and other chemicals causing cancer, respiratory and cardiovascular diseases.
The government has promised a 336 million euro (US$414 million) clean-up to help solve the problem.
DOLLAR CHALLENGE: BRICS countries’ growing share of global GDP threatens the US dollar’s dominance, which some member states seek to displace for world trade US president-elect Donald Trump on Saturday threatened 100 percent tariffs against a bloc of nine nations if they act to undermine the US dollar. His threat was directed at countries in the so-called BRICS alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates. Turkey, Azerbaijan and Malaysia have applied to become members and several other countries have expressed interest in joining. While the US dollar is by far the most-used currency in global business and has survived past challenges to its preeminence, members of the alliance and other developing nations say they are fed
LIMITED MEASURES: The proposed restrictions on Chinese chip exports are weaker than previously considered, following lobbying by major US firms, sources said US President Joe Biden’s administration is weighing additional curbs on sales of semiconductor equipment and artificial intelligence (AI) memory chips to China that would escalate the US crackdown on Beijing’s tech ambitions, but stop short of some stricter measures previously considered, said sources familiar with the matter. The restrictions could be unveiled as soon as next week, said the sources, who emphasized that the timing and contours of the rules have changed several times, and that nothing is final until they are published. The measures follow months of deliberations by US officials, negotiations with allies in Japan and the Netherlands, and
TECH COMPETITION: The US restricted sales of two dozen types of manufacturing equipment and three software tools, and blacklisted 140 more Chinese entities US President Joe Biden’s administration unveiled new restrictions on China’s access to vital components for chips and artificial intelligence (AI), escalating a campaign to contain Beijing’s technological ambitions. The US Department of Commerce slapped additional curbs on the sale of high-bandwidth memory (HBM) and chipmaking gear, including that produced by US firms at foreign facilities. It also blacklisted 140 more Chinese entities that it accused of acting on Beijing’s behalf, although it did not name them in an initial statement. Full details on the new sanctions and Entity List additions were to be published later yesterday, a US official said. The US “will
Intel Corp chief executive officer Pat Gelsinger has retired from the company and stepped down from its board of directors just as the company is in the middle of trying to execute a turnaround plan. Intel chief financial officer David Zinsner and Intel Products CEO Michelle Johnston Holthaus are serving as interim co-CEOs while the board searches for Gelsinger’s replacement, the company said in a statement. Frank Yeary, independent chair of the board of Intel, is to serve as interim executive chair, the company said. Gelsinger’s departure is hitting at a tumultuous time for the US chipmaker. Once the industry leader in