Global Mining: After Vale disaster, Industry commits to international standards for tailings dams

The International Council of Mining and Metals says it will establish an independent panel to set global standards for tailings dam design and maintenance, in the wake of last month’s devastating collapse of a structure in Brazil killed hundreds of people.

Currently there are no established global mining industry standards defining what a tailings dam is, how to build one and how to care for it after it is decommissioned.

The new standards will be binding for all members, including Vale (NYSE:VALE), which has been criticized for lax oversight of its tailings dam facilities.