Investors fear looming safety risks of mining waste dams – by Barbara Lewis (Reuters U.S. – October 31, 2019)

https://www.reuters.com/

LONDON (Reuters) – A global inquiry into how mining companies store billions of tonnes of waste in huge dams, launched after a collapse in Brazil killed hundreds, shows about a tenth of the structures have had stability issues, investors said on Thursday.

The research was led by the Church of England (CoE) and fund managers after the collapse of a Vale (VALE3.SA) dam in January unleashed an avalanche of mining waste on the Brazilian town of Brumadinho, killing an estimated 300 people.

A waste, or tailings dam, is the most common waste disposal method for mining companies, whether they’re extracting iron ore, gold or copper. They are among the largest man-made structures on earth, with some towering dozens of meters high and stretching for several kilometers.

The major investors, who manage assets worth a combined $13.5 trillion across a range of industries, wrote to mining companies in April asking for information about tailings dams to be disclosed about every mine they control.

They warned they might have to divest their shares unless they had clear information on potential risks.

For the rest of this article: https://www.reuters.com/article/us-mining-tailings/investors-fear-looming-safety-risks-of-mining-waste-dams-idUSKBN1XA1D6