Vale expects to close deal over Brazil dam collapse in October
The mix of reddish mud, water and debris from the Samarco disaster reached the Atlantic Ocean in a matter of days. (Screenshot from PigMine 7, via YouTube)
Brazilian miner Vale expects to reach a final agreement with authorities in October regarding reparations related to the collapse of a dam in the city of Mariana, it said on Wednesday in a securities filing.
Last week, Reuters reported that Vale, BHP and their joint venture Samarco could soon reach such an agreement to pay around 100 billion reais ($17.6 billion), with the final terms of the deal expected to come in October.
($1 = 5.6688 reais)
(By Andre Romani; Editing by Kylie Madry)
{{ commodity.name }}
{{ post.title }}
{{ post.date }}
Comments