environmental damage News

BHP to Spend Up to $93M for Environmental Repairs, Reparations in Chile

SANTIAGO – Mining group BHP will spend up to $93 million in environmental repairs and reparations after a Chilean court brokered an agreement in a lawsuit from the state over water use and related damage to a sensitive salt flat …

North Dakota Senate Won’t Hold Oil Execs Liable for Environmental Damage

The North Dakota Senate has rejected a bill that would have allowed the state to hold liable any corporate officer responsible for oil- and gas-related violations. The North Dakota Petroleum Council and the Greater North Dakota Chamber had lobbied against …

BHSI Launches Environmental Impairment Liability Insurance in France

Berkshire Hathaway Specialty Insurance (BHSI) has introduced Environmental Impairment Liability (EIL) Insurance in France. The new policy pairs coverage for multiple environmental risks with technical and legal support to help insureds mitigate environmental incidents and claims. BHSI said the policy …

Vale’s Senior Management Unaware of Dam Risk Report, Says CFO

Senior management at Brazilian miner Vale were never shown internal security documents indicating that its dam at Brumadinho was at risk of collapse, the company’s chief financial officer said on Tuesday [Feb. 12]. The CFO, Luciano Siani, was asked about …

Brazil Miner Vale Knew Its Tailings Dam Had Higher Risk of Collapse: Reuters

Vale SA , the world’s largest iron ore miner, knew last year that the dam in Brazil that collapsed in January and killed at least 165 people had a heightened risk of rupturing, according to an internal document seen by …

Audit of Burst Brazil Tailings Dam Raised Concerns over Drainage, Monitoring

A report commissioned by Brazilian miner Vale SA last year, to look into the stability of a tailings dam that ruptured on Jan. 25, certified it as sound but raised concerns over its drainage and monitoring systems. The report by …

Brazil’s Burst Dam Disasters Blamed on Cheap Storage of Mining Waste

The deadly collapse of a Vale SA tailings dam in Brazil is serving as a wake-up call for an industry that regularly cuts costs by storing mining waste in the cheapest possible way. The slurry of ground rock and effluents …

Brazil Dam Disaster Could Delay Settlement for 2015’s Samarco Mine Disaster

Brazil’s deadly tailings dam collapse is likely to complicate a settlement for a similar disaster less than four years ago at the Samarco iron ore mine, owned jointly by Vale SA and BHP Group, investors said on Tuesday [Jan. 29]. …

Allianz Has Reinsurance Exposure to Vale Dam Disaster: Sources

German insurer Allianz may have to cover some of the costs of the dam collapse at Vale’s Corrego do Feijao mine in Brazil, two people familiar with the matter told Reuters. Allianz’s Global Corporate & Specialty division (AGCS) leads a …

Brazil Weighs Management Overhaul at Vale After Mine Disaster; Death Toll Rises

Brazil’s government weighed pushing for a management overhaul at iron ore miner Vale SA on Monday as grief over the hundreds feared killed by a dam burst turned into anger, with prosecutors, politicians and victims’ families calling for punishment. By …