- Recent TSF failures have highlighted the importance of getting ESG right if mining companies are to attract investment and retain their social licence to operate
- Decipher and K2Fly have come together to combine their complementary technology strengths to create a solution to help tier 1 and 2 mining companies address the key elements of tailings management, governance, monitoring and disclosure. Find out more about the solution.
- See what score you get for your TSF management
- Download this FREE guide to find out about the available solutions to help implement the Global Standard on Tailings Management
- Find out about the 57 major tailings dam failures (2000 – 2020)
- Watch this vodcast, Working towards zero harm: tailings monitoring and governance in 2021
- Learn about the different types of TSF dams
The mining industry’s response to the investors’ demand was strong with:
“How companies react this year will determine our actions in 2021: while our approach has always been driven by engagement over divestment, we will consider shifting capital away from non-responsive companies.
David Cumming, Chief Investment Officer for Equities, Aviva Investors
- 340 responding (representing 47% of the companies contacted)
- 187 confirmed they did not have tailings facilities (representing 26%)
- 153 confirmed they did have tailings facilities
- 45 out of the top 50 largest mining companies in the world responded
- 86% of the industry by market capitalisation responded
- 65% of the industry by market capitalisation fully and publicly disclosed
- 23 out of 23 publicly listed members of the International Council of Mining & Metals responded and publicly disclosed.
How to utilise technology to improve investor sentimentMining companies are required to move beyond compliance and to demonstrate to investors that they are adopting ‘good practice’ such as ICMM’s ten mining principles which encourages greater risk management and continuous engagement with third-party stakeholders including NGOs, local or indigenous communities, community and political leaders. After hearing the industry’s challenges, Decipher and K2Fly have come together to combine their complementary technology strengths to create a solution to help tier 1 and 2 mining companies address the key elements of tailings management, governance, monitoring and disclosure. Armed with the solution, mining companies can visually demonstrate their commitment to ESG and good governance, and thus improve investor sentiment and confidence. The partnership, and the software solution provided, offers a direct response to a recently published report by KPMG which recognised tailings management as one of the top 10 risks to the global mining industry. Decipher Chief Executive, Anthony Walker said:
“The resources industry needs a solution that is cost effective, comprehensive and accessible – and we can deliver on that.”A large number of K2fly’s Mineral Inventory Governance and Reporting clients have drawn a direct link between Resource Governance and Tailings Governance. With the broader importance of ESG, this is a positive step forward in how these issues need to be framed, considered and responded to. Drawing on this experience, the detailed Governance and Monitoring solution is designed to bring a variety of tailings data such as IoT devices, LiDAR, radar, CCTV, drones, inspections and remote sensing into one central location, as a way of monitoring potential failure modes. Reporting from the solution ensures that key personnel (site and corporate) are regularly informed of the facility’s performance and notified of customer defined exceedances. The solution has also been designed to provide independent users (investors, auditors, ITRB, insurance companies) with a quick and effective knowledge management tool so that you can visually demonstrate good governance, enable better understanding of the facility and as a result, reduce insurance premiums or improve investor sentiment. Our new integrated governance dam and tailings software solution will help mining companies ensure TSFs are designed, constructed, monitored, managed, and overseen in accordance to the GTS. The solution will provide:
- Management and governance around key stakeholders in Tailings Facility lifecycle
- Workflows and audit tracking for transparency in reporting
- Capturing/sourcing and searching documentation
- Controlling the functioning of the Independent Tailings Review Board
- Advanced monitoring tools such as earth observations (NDVI, NDRE, NDWI, MSAVI), InSAR, IoT and LiDAR, Landform & Erosion, Environmental Monitoring & Sampling to monitor performance and potential risks
- Tools to manage obligations, actions and stakeholders
- The ability to visually demonstrate commitment to ESG and good governance
Learn more or request a demo
Effectively monitor your tailings storage facility with Decipher
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