Value.Space announces UN collaboration to elevate global mining safety standards

A timely call to action

The 2019 Brumadinho tailings storage facility (TSF) collapse, at which 270 people perished and caused US$20 billion in losses, underscored the urgent need for improved safety. Satellite analysis after the disaster revealed warning signs as early as 15 months before the collapse, emphasising missed opportunities for prevention. With 13 catastrophic TSF failures projected between 2025 – 2029 by World Mine Tailings Failures, a non-profit organisation collecting worldwide data, taking proactive action is critical.

Mining accidents can have cross-border impacts, affecting communities, ecosystems, and economies. Preventing these incidents is critical to safeguarding critical supply chains and ensuring the stability of commodity and financial markets, particularly as the global transition to green economies drives demand for sustainably sourced minerals and metals.

UNECE’s Convention on the Transboundary Effects of Industrial Accidents offers a unique legal framework to manage risks from mine tailings and is leading regional and global efforts to improve TSF safety, with this collaboration contributing to strengthened risk management to help prevent losses to mining operators, insurers, investors, the environment, and ultimately consumers.

Transforming risk management

Satellite-based monitoring and assessment uses near-real-time data to detect early signs of structural vulnerabilities, enabling proactive remediation efforts and reducing the risk of large-scale disasters. As part of the collaboration with UNECE, up to 10 TSF will be monitored and a report will be prepared, analysing the risks, revealing possible structural issues, and translating subsequently into taking measures to prevent major accidents.

The collaboration with UNECE elevates global mining safety standards, protects livelihoods, supports the environment, and reduces the potential for large-scale disasters by deploying satellite technology to identify risks ahead of time, enabling TSF owners to deploy remediation works before loss events.

Value.Space’s cooperation with UNECE brings cutting-edge satellite technologies to the forefront of TSF risk management.

Claudia Kamke, Environmental Affairs Officer for the UNECE Convention on the Transboundary Effects of Industrial Accidents, said:

“The use of cutting-edge satellite technology will further sharpen UNECE’s support to identify and manage risks linked to mine tailings in the Pan-European region and beyond.

“Strengthening mine tailings safety is especially crucial given the projected increases in mining activities over the coming decades, including to meet the demands of the energy transition.”

Reijo Pold, Founder of Value.Space, added:

“This cooperation represents a significant milestone in advancing the safety of global tailings and is a result of the culmination of our two-year contribution to UNECE’s work on TSF safety. We are proud to support UNECE’s vital efforts in this critical area.

“By leveraging satellite monitoring, TSF owners and regulators will have access to actionable insights to prevent disasters before they occur. This proactive approach not only protects communities and ecosystems worldwide, but also bolsters global markets and financial stability by mitigating the economic consequences of catastrophic failures.”

Read the article online at: https://www.globalminingreview.com/mining/04122024/valuespace-announces-un-collaboration-to-elevate-global-mining-safety-standards/