Brazil’s Vale to close dams after deadly collapse
The iron-ore miner says it will take up to 10% of output offline in decommissioning plan
Brumadinho, Brazil — Vale SA, the world’s largest iron-ore miner, says it will sacrifice production for safety to avoid another tailings dam failure, after the death toll in the second dam collapse in just over three years was expected to exceed 300. CEO Fabio Schvartsman says he will take up to 10% of Vale’s output offline to decommission 10 dams similar to the one that burst on Friday at the Corrego do Feijao mine, an announcement that sent metal prices and shares of rival companies higher. At least 84 bodies have been recovered from the slurry so far, with more than 250 still missing and presumed dead. Vale’s initiative aims to preempt tough questions about its safety record after the disaster, which followed a similar deadly dam collapse in 2015 at the nearby Samarco mine, which Vale co-owns with BHP. UN human rights experts called for an investigation into the disaster. Baskut Tuncat, a UN expert on disposal of hazardous substances, urged Brazil to prioritise dam safety evaluat...
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