Alphabetical. Each entry cites the organisation's own site only.
Last updated: 2026-07-09
The Global Industry Standard on Tailings Management — Deadline Day Has Passed, Now Comes Verification
5 August 2025 was the hard deadline for every ICMM member's remaining tailings facilities to reach
GISTM conformance — and it has now passed. The next phase of scrutiny is independent
verification of whether that conformance claim is real, facility by facility, rather than aggregated at
the corporate level.
1. GISTM's origin, structure, and the two-tier deadline (2023 and 2025)
The Global Industry Standard on Tailings Management (GISTM) was developed directly in
response to the Brumadinho tailings dam disaster in Brazil in January 2019, which killed
272 people by the count later cited in ICMM's own materials and marked a global inflection
point for tailings governance
(Reporte Minero, ICMM Informe de Progreso Relaves 2025).
Launched in August 2020 by the United Nations Environment Programme (UNEP), the
Principles for Responsible Investment (PRI), and ICMM, GISTM comprises
15 principles and 77 requirements spanning the full tailings-facility lifecycle from site
selection and design through operation, closure, and post-closure monitoring
(Global Tailings Review, Global Industry Standard on Tailings Management).
ICMM member companies committed to a staggered conformance timeline: “extreme- and very
high-consequence” facilities by August 2023, and all remaining facilities by 5
August 2025
(Canadian Institute of Mining, Metallurgy and Petroleum, ICMM Member Companies GISTM Conformance Deadline).
Central to GISTM's governance model is mandatory board-level accountability: a designated
senior corporate officer, the Accountable Executive, must ensure implementation and report
directly to the board, while high-consequence facilities require review by an Independent Review
Board (IRB) in addition to the routine Engineer of Record (EoR)
(GISTM Blog, Understanding the Global Industry Standard on Tailings Management).
2. ICMM's November 2025 progress report: collective, not facility-level, disclosure
ICMM published a report on members' collective progress toward full GISTM conformance on
4 November 2025, three months after the deadline passed, but the report is explicit about
its own limitation: it “does not provide company-level information or the conformance status of
individual facilities” — that granular data is only available through each company's own
individual disclosures, not through ICMM's aggregated reporting
(ICMM, Progress Towards Full Conformance with GISTM).
This structural choice means that a member company's headline claim of overall progress cannot be verified
against any single centralized dataset showing which specific facilities remain non-conformant, pushing the
verification burden onto investors and civil society researchers who must cross-reference individual
company tailings databases — such as those separately published by Anglo American,
which discloses facility-level data dated as recently as 5 August 2025, the exact conformance deadline
(Anglo American, Tailings Database).
Trade coverage of the ICMM report characterized it as documenting genuine progress industry-wide while
stopping short of a facility-by-facility conformance scorecard, leaving open questions about laggard sites
that ICMM's aggregate figures could mask
(MINING.COM, International Council on Mining and Metals Releases Tailings Progress Report).
3. GISTM's disclosure requirement and the Global Tailings Portal as the accountability backstop
GISTM Requirement 15 explicitly obligates conforming operators to disclose relevant information supporting
public accountability and to commit to participation in global transparency initiatives providing
standardised, independent, industry-wide, publicly accessible information on tailings-facility safety and
integrity — including the “proactive publication and regular updating” of annual
performance and safety reviews
(Commonwealth Secretariat, Natural Resource Insights — Mine Tailings).
This is precisely the gap the Global Tailings Portal was designed to fill before GISTM
even existed. As of May 2022, the portal contained disclosures on 1,862 facilities from 106 mining
companies, and by 2020-era analysis the underlying dataset covered 1,743 unique
facilities representing roughly 30% of contemporary global commodity production
and 83% of the market capitalisation of publicly listed mining companies that responded
(Global Tailings Review, Chapter VII: Lessons from Tailings Facility Data Disclosures).
Independent research warns, however, that even this expanded public-database landscape falls short of full
risk visibility, since it structurally excludes facilities owned by private, state-owned, or abandoned-site
operators — precisely the categories least subject to any voluntary disclosure pressure in the first
place
(ScienceDirect, Public Databases of Tailings Storage Facilities Fall Short of Full Risk Visibility).
Current status (July 2026):
The 5 August 2025 GISTM deadline has passed, and ICMM's November 2025 progress report confirms
industry-wide advancement without disclosing which individual facilities remain non-conformant.
Watch: whether ICMM or member companies eventually publish facility-level conformance
status, and whether the Global Tailings Portal expands coverage to private and state-owned operators.
Last updated: 2026-07-09
How $14 Trillion in Investor Assets Forced Tailings Transparency Into the Open
The Global Tailings Portal exists because institutional investors, not regulators, demanded it.
Co-chaired by the Church of England Pensions Board and the Swedish Council on Ethics, the Investor Mining
and Tailings Safety Initiative built the first-ever public, searchable database of tailings dam risk within
one year of the Brumadinho disaster.
1. The disclosure request: 727 companies, 20 questions, 45-day publication rule
Following the January 2019 Brumadinho disaster, the Church of England Pensions Board and
the Council on Ethics of the Swedish National Pension Funds (AP Funds) co-led a coalition
that grew to 112 institutional investors representing over US$14 trillion in assets under
management, sending a formal disclosure request on 5 April 2019 to 727
publicly listed mining, oil, and gas companies, with an extended deadline of 7 June
2019
(Nature Scientific Reports, Tailings Facility Disclosures Reveal Stability Risks).
The request covered 20 standardised questions per tailings facility — identifier,
location, ownership, operational status, initial-operation date, raising method (upstream, downstream,
centreline), current and five-year-projected storage volume, most recent independent expert review,
hazard/consequence classification, any history of stability concerns even if later re-certified, and
whether a closure plan with long-term monitoring exists
(Global Tailings Portal, About the Global Tailings Portal).
Companies were instructed to publish their disclosure on their own website within 45 days,
have it signed by the CEO or Board Chair, and consider how to communicate the disclosure to
potentially affected communities — a governance-accountability design intended to prevent boilerplate
or evasive responses
(Investor Mining and Tailings Safety Initiative, Disclosure Database, 5 May 2021).
2. The Global Tailings Portal: scale, gaps, and the 10% stability-issue finding
GRID-Arendal, a Norway-based non-profit environmental communications foundation, built and
continues to host the Global Tailings Portal, launched as a searchable database on
24 January 2020 — the one-year anniversary of the Brumadinho disaster — in
collaboration with the Investor Initiative and with support from UNEP
(Global Tailings Portal, About).
The initial release documented 1,900 tailings dams with a combined stored volume of
approximately 45.7 billion cubic metres, projected to grow 25% to 56.6 billion
cubic metres as reporting companies continued operations
(Mining Technology, Investor Initiative Launches Public Tailing Storage Facility Database).
The first independent academic analysis of the underlying disclosures, led by Professor Elaine Baker of
GRID-Arendal and the University of Sydney, found that over 10% of disclosed facilities had
experienced some level of stability issue at some point in their history — with the rate
even higher among upstream-constructed facilities, the design type most associated with historical failures
including Brumadinho itself
(Nature Scientific Reports, Tailings Facility Disclosures Reveal Stability Risks).
Structurally, the dataset excludes abandoned, state-owned, and privately-held facilities,
meaning the portal — while unprecedented in scope — systematically under-represents the
universe of highest-risk legacy sites, which independent estimates put at roughly 8,500 total
active, inactive, and closed facilities worldwide against only around 3,250 estimated active ones
actually captured in investor-driven disclosure datasets
(Global Tailings Review, Chapter VII: Lessons from Tailings Facility Data Disclosures).
3. Active, closed, and abandoned facilities: three governance regimes, one database gap
The distinction between active, closed, and abandoned tailings facilities carries sharply
different governance implications. Active facilities at publicly listed companies fall
under GISTM's full 77-requirement lifecycle regime, including board accountability and, where
high-consequence, Independent Review Board oversight. Closed facilities with a
documented closure plan and long-term monitoring commitment (GISTM disclosure Question 18) remain subject
to the standard's post-closure passive-phase design criteria — the 1-in-10,000 annual exceedance
probability discussed in GISTM's water-governance provisions. Abandoned facilities,
however, sit almost entirely outside both GISTM's voluntary-conformance perimeter and the Global Tailings
Portal's investor-driven disclosure dataset, since GISTM applies only to operating ICMM member companies
and the portal by design excludes facilities without a current publicly listed corporate owner
(Nature Scientific Reports, Tailings Facility Disclosures Reveal Stability Risks).
Independent researchers behind the World Mine Tailings Failures project maintain a separate, longer-horizon
historical record extending back to 1915 specifically to capture failures at facilities — including
abandoned ones — that fall outside both the ICMM/GISTM conformance perimeter and the investor-driven
portal, underscoring that no single governance framework yet covers the full lifecycle risk of every
tailings facility on Earth
(World Mine Tailings Failures, Supporting Global Tailings Safety).
Current status (July 2026):
The Church of England-led Investor Initiative and the Global Tailings Portal remain the primary
public-transparency mechanism for tailings risk, but structurally exclude abandoned and non-listed
facilities that carry some of the highest legacy risk. Watch: any move to expand portal
coverage to state-owned and abandoned sites, and whether GISTM's conformance perimeter is ever extended
beyond ICMM membership.
Last updated: 2026-07-09
Brumadinho and Samarco — Brazil's Two Catastrophes Now Total Roughly $40 Billion in Settlements
Two Brazilian tailings dam disasters, six years apart, produced the largest environmental
settlements in Latin American history and directly triggered GISTM's creation. As of mid-2026,
litigation from both is still active, with a separate UK class action still unresolved.
1. Samarco/Mariana (2015): the R$170 billion (US$31.7 billion) reparations agreement
The Fundao dam disaster at the Samarco joint venture (owned equally by BHP
and Vale) near Mariana, Minas Gerais, in November 2015 killed 19 people and released
contaminated mine waste into the Rio Doce river system. After years of negotiation — including a
rejected R$127 billion proposal in May 2024 and a January 2024 judicial order for R$47.6 billion in
collective moral-damages compensation — BHP, Vale, and Samarco signed a final Judicial
Agreement for Full and Definitive Reparation on 25 October 2024, with the Brazilian Supreme
Federal Court approving it on 6 November 2024
(Courts and Tribunals Judiciary (UK), Municipio de Mariana v BHP Group).
The agreement's total financial value is R$170 billion (approximately US$31.7 billion) on a 100%
basis, comprising R$38 billion already spent since 2016 through the Renova
Foundation, R$100 billion in instalments over 20 years to public authorities and
Indigenous/traditional communities, and R$32 billion in further performance obligations
— with individual compensation set at R$95,000 per eligible fisherman or farmer and
R$13,018 per person for water-damage claims
(BHP, BHP Brasil Reaches Final Settlement).
Litigation continued even after this settlement: BHP agreed to pay A$110 million (US$72.5
million) in September 2025 to settle an Australian shareholder class action over the same disaster
(Reuters, BHP to Pay $72.5 Million to Settle Samarco Class Action),
and separately proposed roughly $1.4 billion in August 2025 to resolve a UK High Court
class action brought by over 600,000 claimants seeking damages as high as £36 billion
(Reuters, BHP, Vale Offer $1.4 Billion Settlement in UK Lawsuit Over Brazil Dam Disaster).
In November 2025, the UK judiciary found BHP liable in the London proceedings, though the ultimate award
remained subject to further proceedings given the extensive Brazilian compensation already paid to many of
the same 240,000-plus claimants
(BBC News, UK Court Finds Mining Firm Liable for Brazil's Worst Environmental Disaster).
2. Brumadinho (2019): Vale's R$37.7 billion settlement and the disaster that created GISTM
The Brumadinho tailings dam collapse on 25 January 2019, at a Vale-operated iron-ore mine
in Minas Gerais, killed 270–272 people and is directly credited as the catalyst for
both the Investor Mining and Tailings Safety Initiative and GISTM itself. Vale agreed to pay R$37.7
billion (approximately US$7 billion) on 4 February 2021 to the state of Minas Gerais —
described at signing as the largest settlement in Brazilian history — covering both socioeconomic and
environmental damage, with the state explicitly reserving the right to seek additional payment if
remediation costs exceeded the agreed figure
(The Guardian, Brazil Mining Giant Agrees to Pay $7bn for Collapse That Killed 272 People).
Beyond the state settlement, Vale disclosed paying over R$2 billion in individual civil and labor
compensation to more than 1,600 relatives of the deceased, and a June 2021 labor-court ruling
separately ordered Vale to pay R$1 million (roughly US$197,240) per family for 131 workers
killed in the disaster
(Reuters, Judge Orders Vale to Pay Victims' Families in 2019 Mining Disaster).
A March 2022 round of individual settlements added a further R$3 billion (US$630 million)
in compensation, illustrating how Brumadinho liability has continued accumulating in tranches years after
the initial 2021 state-level agreement
(Yahoo Finance, Brazil's Vale Settles $630 Million in Cases Related to Brumadinho Disaster).
3. From litigation to standard: how both disasters shaped GISTM's governance design
The direct causal line from these two disasters to GISTM's specific governance requirements is explicit in
ICMM's own framing: GISTM's Accountable Executive requirement, its Independent Review Board mandate for
high-consequence facilities, and its emphasis on community engagement in emergency preparedness all respond
directly to failures identified in the Brumadinho and Fundao post-mortems — namely, insufficient
board-level ownership of tailings risk and inadequate independent technical review ahead of both failures
(GISTM Blog, Understanding the Global Industry Standard on Tailings Management).
Combined, the Samarco/Mariana and Brumadinho settlements now total in excess of US$38–40
billion in disclosed reparations, legal judgments, and proposed settlements across Brazilian,
Australian, and UK jurisdictions — a figure still growing as the UK class action and residual
Brazilian claims remain unresolved through mid-2026, and one that has materially raised the cost-of-capital
and insurance-underwriting case for GISTM conformance across the entire mining sector, not just ICMM
members.
Current status (July 2026):
The Samarco/Mariana settlement is finalized in Brazil at R$170 billion but continues generating additional
claims abroad, while Vale's Brumadinho liabilities keep accumulating in tranches years after the original
2021 agreement. Watch: the outcome of BHP's UK High Court liability proceedings and
whether any further shareholder or municipal claims emerge from either disaster in 2026–2027.