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Freeport, the world’s largest publicly traded copper producer, spends several hundred millions of dollars per year on tailings dams upkeep and has not had a tailings dam failure since it acquired Phelps Dodge in 2007. Adkerson’s directive underscored his desire not to blemish that record. “I told my people, ‘If you know of a problem, don’t try to solve it yourself,’” Adkerson told Reuters. “Report it.”. On Tuesday, Adkerson and 26 other CEOs, including leaders from BHP Group Ltd, Vale SA and Glencore Plc, agreed as their first step since the Vale disaster to form a panel that will set international design and maintenance standards for dams and study ways to reduce the volume of water stored behind the dams in waste rock.
“We recognize our responsibility to offer more than just words,” said Donald Lindsey, CEO of Canadian miner Teck Resources Ltd and chair of the International Council on mickey mouse silhouette cufflinks and tie bar gift set Mining and Metals, the industry trade group that set the standards, “We owe it to the families impacted (by the Vale disaster) and to our stakeholders to take meaningful action,” he said, In the weeks after the accident, Brazil’s government banned new upstream mining dams - the type of dam involved in the Vale disaster - and ordered the decommissioning of all such dams by 2021..
But Brazil and the broader mining industry have grappled with how best to codify uniform tailings dam standards, conscious of not only the safety implications but of growing public resentment over the use of tailings dams. Right now for instance, there are no global mining industry standards defining what a tailings dam is, how to build one and how to care for it after it is decommissioned. “I’m paranoid about tailings dams,” said Mark Bristow, CEO of Barrick Gold Corp, the world’s largest gold miner, which has assigned full-time engineers to each tailings dam.
In addition to setting global standards for the construction and inspection of tailings dams, the ICMM panel will also study ways to require so-called dry-stack tailings, where water is removed before tailings are stored, thus bolstering a dam’s safety, That likely can happen relatively soon, the ICMM said, Longer term, ICMM said that in situ mining - in which an acid is mickey mouse silhouette cufflinks and tie bar gift set pumped underground to leach out copper and other minerals - could become the industry standard, thus eliminating the need for tailings dams entirely..
“We absolutely agree that a fundamental change is required in the industry’s collective approach to safe tailings management,” said BHP CEO Andrew Mackenzie at the BMO Metals & Mining Conference in Florida, where the ICMM approved the panel’s formation. The new standards to be set by ICMM will apply to all members, regardless of location. Past practices favored a more tailored approach. The Vale disaster “led us to reconsider how we look at tailings dams and acknowledge we need a step-change,” said Tom Butler, ICMM’s CEO.
RIO DE JANEIRO (Reuters) - A manager at Brazilian iron ore miner Vale SA told authorities that the company’s executive board knew there had been a “decrease in security” at the dam that burst in January, killing hundreds, according mickey mouse silhouette cufflinks and tie bar gift set to a newspaper report on Tuesday, The manager told authorities he had discussed the dam with his superiors, a columnist at newspaper Folha de S.Paulo reported, without saying how the information was obtained, Vale denied the report, saying that none of the company’s managers had made statements on a decrease in security at the dam, nor had they said that the company’s board received information suggesting an imminent risk to the structure..
Technical evaluations of the dam had not indicated an immediate risk that it would burst, Vale said in a statement. In the month since the dam burst in the town of Brumadinho, likely killing over 300 people, prosecutors and media have raised questions about the security measures that were in place to prevent such a burst. Earlier in February, Reuters reported that internal Vale documents showed the dam had an elevated risk of rupture. The newspaper report did not name the manager or give further details on his or her testimony.
NEW YORK (Reuters) - U.S, President Donald Trump’s decision to delay raising tariffs on $200 billion worth of Chinese goods has helped push global stock markets broadly higher as investors hope for a resolution in the trade war between the world’s two largest economies, Yet some U.S.-based fund managers from firms including Wells Fargo mickey mouse silhouette cufflinks and tie bar gift set Asset Management, Causeway Capital Management and Janus Henderson Investors say they are becoming more bullish on China regardless of whether a trade agreement is reached over the next few months..