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Judge Orders Vale to Set Aside USD 1.5 Billion for Dam Collapse Damages

Mining News - Published on Thu, 28 May 2020

Image Source: Vale Tailing Dams
Brazilian state of Minas Gerais judge has partially granted an injunction sought by prosecutors by ordering Vale to set aside 7.9 billion reais (USD 1.5 billion) to pay potential fines related to the tailings dam collapse that killed 270 people last year. The figure adds to the 1 billion reais (USD 260 million at the time) in frozen funds a federal court ordered Vale to pay affected communities shortly after the deadly incident. Vale faces multiple legal actions over the incident, including allegations that it was aware of the dam's unstable condition years before the accident happened.

The town of Brumadinho, where Vale’s Córrego do Feijão iron ore mine is located, suspended this month Vale’s license to operate on concerns workers were not respecting social distancing rules. It also halted ongoing work to repair the mine’s tailings storage facility.

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Posted By : Yogender Pancholi on Thu, 28 May 2020
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