Vale to pay $106.5m to workers affected by Brazil dam disaster

Brazilian mining company Vale SA said on Monday it would pay 400 million reais ($106.52 million) to compensate workers affected by the deadly rupture of a tailings dam in January that killed at least 240 people.

In a statement, Vale said the deal also involves individual compensation for moral and material damages, including job stability and other benefits for a certain period of time.

In May, the company said it was taking $2.42 billion in writedowns for payments to victims’ families and estimated out-of-court settlements for various damages related to the dam collapse, including $247 million for a “framework agreement” with labor prosecutors.

($1 = 3.7552 reais)

(By Marta Nogueira and Gabriela Mello; Editing by Richard Chang)