Some 96 investors, controlling more than $10tn in assets has written to 683 publicly listed mining companies to disclose the safety records of their waste dumps, in the wake of the collapse of the Brumadinho dam in Brazil, killing hundreds.
FTSE 100 mining companies such as Anglo American, Antofagasta, BHP Group, Glencore and Rio Tinto, which have received the letters from investors have been given 45 days to disclose their dams’ size, construction methods and safety records.
The collapse of the dam in Brazil recently released 11.7m cubic metres of mud drawing about 300 people. The dam was used to store unwanted byproducts of an iron ore mine.
The group of investors, comprising of Church of England Pensions Board and Sweden’s public pension fund, want to create a global database of the disclosures to raise the safety standards in the mining industry.
The latest incident in Brazil was not isolated. Another tragedy in a Vale mine in Brazil in 2015 had released poisonous substances to the environment, contaminating water.