https://www.miningweekly.com

Brazil state eyes at least $5.3bn Vale deal after dam burst, official says

7th January 2021

By: Reuters

  

Font size: - +

RIO DE JANEIRO – The Brazilian state of Minas Gerais is hoping to win at least 28-billion reais ($5.3-billion) from a compensation deal with miner Vale after the 2019 Brumadinho deadly dam burst, a senior state official said on Wednesday.

State and Vale officials will meet on Thursday, when it is expected talks on compensation will begin, ahead of a court-mediated hearing expected in January, said state secretary general Mateus Simões.

"The idea is that we end the text discussion tomorrow and start the value discussion," he told Reuters. "Certainly the floor for the beginning of the negotiations has to be 28-billion reais."

The government of Minas Gerais has requested in court total damages of approximately 54-billion reais for the material and moral damages related to the rupture of the Vale dam in Brumadinho on Jan. 25, 2019. The disaster left about 270 dead.

Vale told Reuters that "there is still no definition of values." It said "it remains committed to fully repairing the affected and the impacted communities."

Edited by Reuters

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION