Brazilian mining companies have until July to comply with the requirements outlined in the Global Industry Standard on Tailings Management (GISTM), a protocol launched in 2020 in response to accidents of this kind worldwide.

The deadline applies to dams with high potential for harm to people and the environment operated by member companies of the International Council on Mining and Metals (ICMM) or those that have voluntarily adhered to the protocol. A survey conducted by KPMG showed that 65 companies are responsible for 257 operational dams with high potential for damage, according to 2022 data from the ANM.                                                           

Of these, only twelve operators, or 18%, have announced their commitment to GISTM. They are responsible for 131 of the high-impact dams in the country, representing 51% of the total.                                                                                                 

“This is significant, but all companies should prepare to comply with the protocol.  It is a challenge for the sector because these companies have little time to make the necessary adjustments. Some are making the effort, but the requirements cannot be met overnight or improvised. A broad effort is required, such as hiring engineers and consultants, for example, which takes time in addition to verifying the implemented processes and controls”, analyzes the partner-director of ESG from KPMG Brazil, André Winter.

More information at https://kpmg.com/br/pt/home.html

*Source: KPMG