Further Supply Disruptions to Boost Near-Term Iron Ore but Declining Steel Demand in China Looms
The failure of a tailings dam at Vale’s Corrego de Feijao iron ore mine in Brazil is a tragedy with more than 40 people confirmed dead and nearly 300 still missing. The dam was 86 metres high and contained approximately 12 million cubic metres of tailings, essentially wet sand, which flowed when the dam burst. Most of the victims were Vale employees, working in the mine’s processing plant and offices downstream of the dam.The disaster comes just a few years after a similar failure at Vale’s 50...
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