Commodities 

Vale disaster sends shockwaves beyond Brazil

Vale disaster sends shockwaves beyond Brazil

History, Karl Marx once wrote, repeats itself “first as tragedy, the second time as farce”. Perusing the global mining industry’s expressions of horror at last month’s Brumadinho tailings dam collapse, it is hard not to recall the line. Describing a disaster likely to have killed more than 300 people as “tragic” might carry more weight had the incident not arrived just 38 months after another of Vale’s Brazilian iron ore operations failed, again at huge human and environmental cost.

>Alerted to reported comments from senior bankers that poor safety records could make the sector “uninvestable”, London’s listed groups have already proposed higher standards

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