2/19/2019, 9:43 AM (Source: TeleTrader)
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BHP agrees to independent oversight of dam operations

Anglo-Australian mining giant BHP Group said it would welcome an international independent oversight body to monitor the construction and operation of its tailing dams in Brazil, the Financial Times reported on Tuesday. The remarks were made by the company's chief executive officer Andrew Mackenzie at the corporate earnings presentation and following the earlier incident in Brazil when a dam at an iron mine burst, causing numerous casualties and damage.

"At BHP we would welcome a common, international and independent body to oversee the integrity, construction and the operation of all dams and we absolutely support the call for increase transparency in tailings dams disclosure," Mackenzie stated. "We will be meeting with a number of global bodies this month to expedite this work and response," he pointed out, emphasizing the company's efforts in disaster prevention.

BHP stock traded 0.87% in the red at 9:27 am CET on the London Stock Exchange.

Baha Breaking News (BBN) / SS