"The Brumadinho disaster shows that favoring profit over safety has been Vale's standard operating procedure."
Brazil Mining News
Was it another false dawn for the nickel market?
We used to say these kinds of mining incidents were acts of God, but now ... we consider them failures in engineering.
Half of the world’s biggest miners do not keep track of their tailings risk management measures -report
The Responsible Mining Foundation says many of the world’s largest mining companies are not able to ‘know and show’ how effectively they are addressing the risks of tailings dam failure and seepage.
In the near term, the significant disruption to Brazilian supply will likely keep iron ore prices elevated and volatile.
This week’s drama has played out as the most important iron ore user has been offline, with Chinese markets closed for Lunar New Year.
About 700 people were evacuated from two towns located near tailings dams operated by Vale and ArcelorMittal on mounting fears after last month's breach at Brumadinho, the country's deadliest mine disaster.
ArcelorMittal is investing in projects in Mexico and Brazil, and has bought Votorantim in Brazil and Italy's Ilva, Europe's largest capacity steel plant.
"A prolonged embargo will have negative impact on earnings, cash flow and sentiment."
The National Mining Agency aims to issue an ordinance on Friday requiring that upstream tailings dams be taken down or converted into other types of dams.
Analysts believe the price surge lines up with the market halting up to 40 million metric tonnes of Vale’s iron ore production.
Vale SA was made aware of problems with sensors designed to monitor the structure of a dam that ended up bursting, 2 days before the disaster.
Creditors rejected Samarco’s offer to treat the injections as senior or pari-passu debt.
The cut in output forced Vale to declare force majeure in iron ore and pellets contracts on Tuesday.
Vale has come under intense public pressure since the Jan. 25 dam burst, with some politicians and prosecutors calling for criminal prosecution and a management shakeup.
The problem for miners is convincing an increasingly sceptical public of how necessary their industry is.
Iron ore prices have surged since the disaster, hitting a nearly two-year high on Monday.
Vale SA said it’s temporarily halting some operations at its Brucutu mine, potentially causing a production loss of about 30 million metric tons of iron ore a year
The report by German-based TÜV SÜD made 17 recommendations aimed at improving the stability of the structure and was dated September 2018.
The Planalto project is located in the northern Carajás province.
A video shows the exact moment when a dam at Vale’s Córrego do Feijão mining complex burst.
Brucutu, which has an annual capacity of 30 million tonnes of iron ore, is Brazil's second largest mine, behind Vale’s Carajás.
The rescue and recovery team said that 248 people were now listed as missing.
Those inclined to make a bullish bet on disaster may be in for a dose of karma. This rally is more likely to collapse than extend.
We need to closely watch Vale's overall output and how it will impact on iron ore markets going forward.