Vale reaches $7bn settlement with Brazilian state over mine disaster
Deal comes two years after the Brumadinho dam collapse that killed 270 people
04 February 2021 - 20:02
Sao Paulo — Vale reached a settlement agreement with Brazilian authorities for a dam collapse that killed 270 people and led to production cutbacks that stripped the company of the title of world’s biggest iron ore producer.
The deal comes two years after the Brumadinho disaster, giving affected communities a clear framework for compensation and reparations and removing a considerable legal overhang for Vale. Its shares were little changed in Sao Paulo...
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