The Federal Government is supporting the resources sector with a grant to mass-produce a technology which enhances safety in mine tailings dams.
Vale plans to invest up to $US100 million ($157.66 million) in a Brazilian technology that will reduce the use of dams.
Vale plans to form an audit committee following the Brumadinho dam disaster in Brazil last year.
Norway-based GRID-Arendal has released the world’s first publicly accessible database of mine tailings storage facilities, backed by more than $US13 trillion ($19 trillion) of funds under management.
Iron ore miner Vale said external auditors have refused to renew stability certificates for its 13 dams and four dikes in Brazil following another tailings dam collapse at its Brumadinho mine in Minas Gerais in January this year.
Tech start-up Otus has developed a system that can monitor potential safety issues at mine site tailings dams.
The tailings dam collapse last month at Vale’s Córrego de Feijão iron ore mine in Brazil that killed an estimated 300 people has caused a ripple effect across the global mining industry, prompting response from various Tier 1 mining companies.
Brazilian iron ore major Vale’s latest tailings dam disaster at the Córrego de Feijão mine near Brumadinho in Minas Gerais has placed a spotlight on the importance of tailings dam safety.