The "paranoia" did not translate into appropriate management actions,... about one of the key aspects of environmental and local community relations...tailings dam failure.
The state of Ceara, where the mine is, has a history of seismicity which can be appreciated by reference tot he paper below
http://www.scielo.br/pdf/riem/v3n3/en_08.pdf
"
Most of the Brazilian territory, present an acceleration ag equalseismicity in the region.
to 0.025 g, characteristic of regions where no significant seismic
events occur. However, it is also possible to observe in Figure
3, the existence of two regions, previously described, presenting
the higher seismicity of the country. Accelerations defined
in this figure correspond to the nominal 10% probability of being
exceeded in 50 years, which corresponds to a recurrence period
of 475 years.
Figure 4 shows the seismicity map of the state of Ceará, presented
by Marza et al [8], containing historical and instrumented
earthquakes in the time interval from 1808 to 2000. Only the
most significant earthquakes are represented, being the total
number of detected events in the region beyond the tens of
thousands.
The temporal coverage of the earthquake catalog of the state
of Ceara is very uneven, like the majority of seismic catalogs.
The time lapse of the catalog is divided into two parts, each
one with 96 years. The first part, the interval between 1808
and 1904, covers only 14 events, while the second part, the
interval between 1905 and 2000, covers 348 events. This happens
because the seismographic monitoring has been improved
especially in the last 20 years. According to Table 1, it can be
seen that the catalog of Ceará State includes 20 seismic events
with magnitude greater than or equal to 4.0, confirming the significant
Look forward to this disaster being resolved quickly with all facts put out in a transparent fashion
The JV company would have a board, CEO etc. This is an excellent place to start, generally their remuneration has this sort of responsibility and accountability written into it. But the responsibility and accountability would not stop there.
As an aside, I see that Barclays now requires its CEO to hold 4 times their annual salary in shares (not giveme's), which traditionally can be acquired over 5 years?. Love to see this come into the Mining Companies, especially the large ones, which perform so poorly using the current employment contracts. Might even see alignment and REAL Worlds best practise appear?
Deeply saddened by events...
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