Water risk in mining: Analysis of the Samarco dam failure

The paper explores the November 2015 Samarco tailings dam disaster in Brazil, the largest in the world according to many criteria, and its impact on water risk management. Focus is on BHP and Vale, as two of the world's largest mining companies and their exposure to water risk through the disaster and their responses as equal owners of the Samarco joint venture. The study employs a case study method based on publicly available data in which the companies' water risk management is assessed. The analysis reveals a number of issues which include too much discretion given to joint ventures in the assessment of water risk and the need for a specialized water risk function and improved contingency planning for downstream communities impacted by the organization's activities. Based on the analysis a future research agenda is developed.