Precipitation of heavy metals from wastewater using simulated flue gas: sequent additions of fly ash, lime and carbon dioxide

Lime is a preferred precipitant for the removal of heavy metals from industrial wastewater due to its relatively low cost. To reduce heavy metal concentration to an acceptable level for discharge, in this work, fly ash was added as a seed material to enhance lime precipitation and the suspension was exposed to CO2 gas. The fly ash-lime-carbonation treatment increased the particle size of the precipitate and significantly improved sedimentation of sludge and the efficiency of heavy metal removal. The residual concentrations of chromium, copper, lead and zinc in effluents can be reduced to (mg L-1) 0.08, 0.14, 0.03 and 0.45, respectively. Examination of the precipitates by XRD and thermal analysis techniques showed that calcium-heavy metal double hydroxides and carbonates were present. The precipitate agglomerated and hardened naturally, facilitating disposal without the need for additional solidification/stabilization measures prior to landfill. It is suggested that fly ash, lime and CO2, captured directly from flue gas, may have potential as a method for wastewater treatment. This method could allow the ex-situ sequestration of CO2, particularly where flue-gas derived CO2 is available near wastewater treatment facilities. (C) 2009 Elsevier Ltd. All rights reserved.

Sovereign rescheduling probabilities in emerging markets: a comparison with credit rating agencies' ratings

This study estimates default probabilities of 124 emerging countries from 1981 to 2002 as a function of a set of macroeconomic and political variables. The estimated probabilities are then compared with the default rates implied by sovereign credit ratings of three major international credit rating agencies (CRAs) – Moody's Investor's Service, Standard & Poor's and Fitch Ratings. Sovereign debt default probabilities are used by investors in pricing sovereign bonds and loans as well as in determining country risk exposure. The study finds that CRAs usually underestimate the risk of sovereign debt as the sovereign credit ratings from rating agencies are usually too optimistic.