From saviour to villain for former Vale chief Fabio Schvartsman
Rio de Janeiro — Fabio Schvartsman was supposed to be the fresh face that would help Vale, the world’s biggest iron ore miner, advance the company after a 2015 dam collapse. Instead, the 65-year-old is facing homicide charges after the company’s latest deadly disaster.
While he knew little of mining and metals, Schvartsman had more than doubled the shares at Klabin, Brazil’s largest paper producer, where he secured financing to roll out low-cost projects and gained a reputation for cost efficiency. He was named to lead Vale in May 2017, just as it brought the industry’s largest new project online, boosting production and profit...
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