ENVIRONMENTAL of coal, a standout amongst the most famously

ENVIRONMENTAL EFFECTS

            Since pure
aluminum mineral is so steady, a gigantic measure of power is required to
complete the last production and, in the U.S, half of the refining vitality
devoured is courtesy of coal, a standout amongst the most famously
contaminating fuel sources in the world. The EPA says that the release of
perfluorocarbons during the Aluminum refining process is 9,200 times more
destructive than carbon dioxide as far as their impact on a dangerous
atmospheric deviation. At the point when bauxite is extracted from the earth,
the strip-mining process expels all local vegetation in the mining district,
the surrounding animals loos their food and in addition huge soil
disintegration. The scathing red muck and poisonous mine tailings that remain
are ordinarily kept in unearthed mine pits
where they at last seep into aquifers, sullying neighbourhood water sources.
Greenhouse gas emissions released during smelting and processing include carbon
dioxide, perfluorocarbons, sodium fluoride, sulphur dioxide, polycyclic
aromatic hydrocarbon and a vast list of other problematic elements. 8.

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            One of the major environmental issues from the aluminium
industry is the disposal of massive amounts of bauxite residue; the production
of one ton of alumina leads to the generation of 1-2 tons of red mud, which is dependent
on the bauxite characteristics and on the processing parameters. In 2012, the
global production of red mud was about 120 million tons, where 2.5 billion tons
residual material accumulated in land deposits. The vital environmental impact resulting
from red mud disposal and storage is the pollution of soil and water caused by
the deposition of suspension fluid and its alkalinity.

In 2010 there was an accident
in Ajka, Veszprém County, in western Hungary result of breaching of the
containment reservoir’s dam, due to huge flood 10 people killed and 150 injured
due to the toxicity spread through the area 9.

            The environmental risk, in
fact, mainly depends on the amount of suspension fluid in the mud and on the
possibility of interaction between the mud and the environmental components
10.

 

2.3. INELASTICITY OF COMMODITY

            The elasticity
of demand is an important variation on the concept of demand. Demand can be
classified as elastic, inelastic or unitary. An elastic demand is one in which
the change in quantity demanded due to a change in price is large. An inelastic
demand is one in which the change in quantity demanded due to a change in price
is small 11.

            During the confrontation of demand
and price trend lines in figure 2 and figure 3, we clearly observe that over
the period from 2005 to 2017 demand of Aluminum commodity showed inelastic
behavior.