Advertisement
From Reuters:
“Works are underway by Samarco on the dam structures to contain the remaining tailings materials and to treat sediment,” BHP said in a statement on Friday, adding that work would be completed by Dec. 31.
…A BHP spokesman said no timeframe had been set for a restart of the operation, but added that it would not come in 2016.
…Vale, on the other hand, has a number of iron ore mines close to Samarco’s deposit, making it a valuable asset that could be used in the company’s wider mining system.
I do not have Samarco in my 2017 outlook. If it comes it will add pain.
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
Advertisement