“Losses exceeding US$100 million and 60% chance of permanent shutdown of the mine”
There are various elements of risk present in a tailing’s life cycle across planning and design, construction, operation, monitoring, modification, decommissioning and aftercare. Tailings dam failures are often the result of multiple contributors but according to Accenture, 80% of these causes are controllable.
Failure to properly manage this risk can result in:
- A profound impact on your company’s bottom line
- Severely eroding share value
- Suspension of operations
- Mine closure
- Loss of life / fatalities
- Community and environmental damage
- Brand and reputational damage
According to the Australian Government, evidence from well-known Dams & Tailings failures shows that a “major failure can not only cause deaths but can result in a one-third loss of market capitalisation, clean-up costs and direct losses exceeding US$100 million and potential class action costs of up to twice that, with an average 60% chance of permanent shutdown of the mine.”
K2fly is trusted by the worlds leading miners in 54 countries. Our Dams & Tailings solution is trusted by these companies and ICMM members to manage and reduce risk by:
To see how your can start minimising your risk and aligning with best practice and standards such as the GISTM, speak with one of our Dams & Tailings experts today for a free demonstration.
Did you know?
K2fly’s Dams & Tailings solution is being used by 5 ICMM members and is either working with or in discussions with 80% of ICMM members