Vale Agrees to $7 Billion Settlement for Brumadinho Dam Collapse
04 Fevereiro 2021 - 11:26AM
Dow Jones News
By Samantha Pearson and Jeffrey T. Lewis
SÃO PAULO -- Brazilian miner Vale agreed to pay $7 billion in
compensation to the state of Minas Gerais where the collapse of its
dam two years ago killed 270 people, polluted rivers and
obliterated the surrounding landscape.
Thursday's settlement, the biggest court settlement in Brazilian
history, according to prosecutors, is intended to compensate the
state for the socioeconomic damage caused by the disaster, but it
doesn't affect a slew of pending homicide and environmental charges
in the case.
When Vale's dam burst in Brumadinho in January 2019 it unleashed
a tsunami of mining waste down the valley at speeds of up to 50
miles per hour, wiping out the on-site canteen as many workers were
at lunch, as well as destroying nearby homes and a guest house.
"Vale is committed to fully repair and compensate the damage
caused by the tragedy in Brumadinho and to increasingly contribute
to the improvement and development of the communities in which we
operate," Chief Executive Officer Eduardo Bartolomeo said in a
statement. "We know that we have work to do and we remain firm in
that purpose."
Write to Samantha Pearson at samantha.pearson@wsj.com and
Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
February 04, 2021 09:11 ET (14:11 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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