abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthC4067174-3DD9-4B9E-AD64-284FDAAE6338@1xinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapeline, chart, up, arrow, graphLinkedInlocationmap-pinminusnewsorganisationotheroverviewpluspreviewArtboard 185profilerefreshIconnewssearchsecurityPathStock downStock steadyStock uptagticktooltiptwitteruniversalityweb

The content is also available in the following languages: 简体中文, 繁體中文

Article

23 Jan 2024

Author:
Clara Denina and Simon Jessop, Reuters

Investor coalition announces plan to challenge mining firms over tailings dam safety

"Investor group turns up heat on mining tailings dam laggards", 23 January 2024

"A group of investors managing more than $25 trillion said they plan to challenge mining companies that have not yet committed to a tailings dam best-practice standard and may vote against management at upcoming annual meetings.

The Investor Mining and Tailings Safety Initiative was launched in August 2020 in response to the Brumadinho disaster in Brazil where 270 people were killed when a tailings dam collapsed.

So far 77 listed mining companies, including the world's largest BHP (BHP.AX), and Rio Tinto (RIO.L), have signed up to a tougher code of conduct...

But 126 companies, many of them smaller, have yet to commit to the standard, leaving their shareholders, insurers, and banks facing greater risk, the investor group's chair Adam Matthews told Reuters.

The initiative names China's Zijin Mining Group Co Ltd which has also mining interests overseas and has previously run into trouble with tailings dams, Saudi Arabia's state-owned miner Ma'aden, Grupo Mexico and its subsidiary Southern Copper Corporation, among those companies not conforming with the standard.

In a statement to Reuters, Grupo Mexico said the company, including Southern Copper and other subsidiaries, is committed to "zero damage to health and safety of our employees, communities and the environment throughout the life cycle of our tailings systems," in line with the Global Industry Standard on Tailings Management.

Zijin and Ma'aden did not immediately respond to requests for comment..."

Privacy information

This site uses cookies and other web storage technologies. You can set your privacy choices below. Changes will take effect immediately.

For more information on our use of web storage, please refer to our Data Usage and Cookies Policy

Strictly necessary storage

ON
OFF

Necessary storage enables core site functionality. This site cannot function without it, so it can only be disabled by changing settings in your browser.

Analytics cookie

ON
OFF

When you access our website we use Google Analytics to collect information on your visit. Accepting this cookie will allow us to understand more details about your journey, and improve how we surface information. All analytics information is anonymous and we do not use it to identify you. Google provides a Google Analytics opt-out add on for all popular browsers.

Promotional cookies

ON
OFF

We share news and updates on business and human rights through third party platforms, including social media and search engines. These cookies help us to understand the performance of these promotions.

Your privacy choices for this site

This site uses cookies and other web storage technologies to enhance your experience beyond necessary core functionality.