Vale says routine tailings dam inspection found surface cracks

Vale (NYSE:VALE) said Saturday it is conducting additional checks on one of its tailings dams in Brazil after a routine inspection identified surface cracks, but so far has found the structure remains in stable condition.

The company said in a Brazil securities filling that the operations were underway at the Forquilha III dam at the Fabrica iron ore mine in Ouro Preto, in Brazil’s Minas Gerais state.

Vale (VALE) said the dam is at emergency level 3, the highest level among its dams, and is under permanent monitoring, with a downstream containment structure in place and the self-rescue zone evacuated, although “the structure’s stability conditions remain unchanged.”

Vale (VALE) was involved in separate incidents in Minas Gerais 2015 and 2019, when dam accidents killed hundreds of people combined and caused severe environmental damage.