Vale to add $450mln to spending related to Brumadinho accident in Brazil

Brazilian mining company Vale will spend an additional $450 million on safety and environmental recovery in the city of Brumadinho, in the country's Minas Gerais state, until 2023 after an iron ore tailings dam collapsed in January, the company said on Wednesday June 26.

This adds to the $4.5-billion financial impact already disclosed by Vale in its first-quarter earnings report. Fines, compensation and investments now total $4.95 billion in relation to the accident in the city. A tailings dam at Vale’s Córrego do Feijão mine, located close...

Published

Renato Rostás

June 26, 2019

21:03 GMT

São Paulo