BHP BHP Group Limited

By WSJ City 

Some of the world's largest miners are calling for an independent global body to monitor the risks posed by waste dams, as the sector scrambles to react to a collapse in Brazil that left at least 171 people dead.

The CEOs of BHP Group, Anglo American and Glencore, and a spokesman for ArcelorMittal, have said they would back an independent body to oversee dams. A spokesman for Newcrest Mining said the gold miner was also supportive of the idea.

KEY FACTS

   -- Since the disaster miners say they have rechecked their dams. 
 
   -- Some have laid out how many of their structures are so-called upstream 
      dams, which are prone to failure, according to experts. 
 
   -- International Council on Mining and Metals members will meet on Tuesday 
      to discuss any action they will take. 
 
   -- Some investors are now pressing for an independent safety system. 
 
   -- They say miners ignored their calls for more independent safety audits 
      and greater transparency after another dam collapse in Brazil in 2015. 

WHY THIS MATTERS

Even if such a monitor is formed, it may be difficult to get a global industry to agree to set standards and decide on its powers. Miners also worry that as the demand for safety auditors increases, there won't be enough experts to go around.

Many large miners, including Freeport-McMoRan, Newmont Mining and Rio Tinto, declined to comment about whether they would support such a body.

A fuller story is available on WSJ.com

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(END) Dow Jones Newswires

February 26, 2019 02:26 ET (07:26 GMT)

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