Iron ore majors ramp up supply even as China faces challenges
Iron ore is one of the year’s worst performing major commodities, slumping by almost a quarter as China’s property crisis drags on.
Brazil’s mining regulator on Monday extended the deadlines by up to four years for closing many dangerous tailings dams like the one that collapsed in January at a Vale SA facility, killing more than 240 people.
Tailings are the muddy waste produced in mining for iron ore and other minerals. The waste is often contained within a dam built using a variety of methods.
The so-called upstream type of dam is considered the most dangerous as is most susceptible to liquid seeping under the dam and weakening the structure, as authorities believe happened in the Vale disaster in the town of Brumadinho.
The country’s National Mining Agency (ANM) had previously banned construction of new upstream dams in February in response to the disaster. It had also called for such structures still in use to be deactivated by 2021 and fully closed down by 2023.
But under a new regulation published in the government’s official gazette on Monday, the larger upstream dams will now have until 2025 or 2027 to be completely shut down in a process known as decharacterization. Smaller dams had their deadline moved up to 2022.
All upstream dams in operation must still be deactivated in 2021, however, meaning no new tailings can be added to the dams.
ANM gave no explanation for the change in deadlines and a spokesman did not immediately respond to a request for comment.
(By Jake Spring; Editing by Tom Brown)
2 Comments
Mind
I think it´s really great, instead to review the existing tailings dam(some more may be at risk of collapse), more time is given to deficient structures, it can´t be that human life is worth less than metal, everything is political, little objectivity and a great shame really!! 🙁
Andrés sorribes
Little objectivity I see here, maybe there’s more inestable tailings dam over south america… ??