IGO suspends annual dividends from Tianqi JV amid market downturn
The JV experienced a build in lithium hydroxide inventory at Kwinana over recent months.
Rio Tinto (ASX: RIO) disclosed Friday detailed information on 14 of its global tailings facilities and their progress towards conforming with the Global Industry Standard on Tailings Management (GISTM).
These tailings facilities are those rated Very High or Extreme under GISTM classifications, based on the highest potential consequences in the extremely unlikely event of a failure, the miner said.
“Since the tragic failure of the tailings facility at Brumadinho in Brazil in 2019, the entire industry has been working to improve the way we manage tailings facilities,” Rio Tinto chief technology officer Mark Davies said in the statement.
“Responsible tailings management is critical to ensure the safety of our people and communities and to protect the environment,” Davies said. “It is fundamental for our business and social license. We have made considerable progress since August 2020 towards conformance with the GISTM. We have completed most of the work and have detailed plans to complete outstanding items.
GISTM has meant a step change in how the industry manages its tailings facilities, Davies said, adding that good tailings management is also about transparent partnership.
“We have been working with the local communities near our facilities to increase awareness of our management practices and how we can best work together to continue to keep people and the environment safe from harm.”
Details of these facilities and their progress in implementing the requirements of the GISTM can be accessed here.
