The 2019 mining disaster in Brazil is expected to lead to a double-digit jump in costs to insure U.S. tailings dams that store mining waste against liability for environmental catastrophes.
Tailings dams, some of which tower dozens of meters high and stretch for several kilometers (miles), are the most common waste-disposal method for mining companies, whether they extract iron ore, gold or copper.
The deadly collapse last January of the dam at Vale SA’s Corrego do Feijao iron ore mine in Brumadinho rocked the mining industry and spurred calls for massive operational changes. At least 259 people were killed here in the incident. Continue Reading →