STUCK IN THE MUD
The shares of BHP Billiton, the world’s biggest mining company, had their worst day in more than seven years last week, when the news broke that the Brazilian Federal Public Prosecution Service had launched a A$43-billion legal case against it and Vale over the massive slimes dam burst at the Samarco iron-ore mine that last year claimed the lives of 19 people and left thousands homeless. The claim is understood to relate to social, environmental and economic compensation, as well as the restoration of the environment and community infrastructure affected. The tragic incident emphasises the importance of continually checking on the stability of slimes dams and brings back the awful memories of South Africa’s own Merriespruit slimes dam disaster in 1994, which left 17 dead and destroyed 80 homes in Virginia, in the Free State.
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