Court denies Vale’s asset freeze request

Tuesday, 06 October 2020 10:42:43 (GMT+3)   |   Sao Paulo

A Brazilian court has denied a request by state and federal authorities over the Mariana dam disaster.

Prosecutors, the state of Minas Gerais, the Minas Gerais Office of the Public Defender, the Brazilian Federal Prosecutor Office, and the Attorney General Office (AGU) filed a lawsuit demanding a BRL 26.7 billion ($4.7 billion) asset freeze on Vale. The judge said Vale has been cooperating actively to repair for the Mariana damages.

The judge’s decision also said Vale made available about BRL 10 billion in cash guarantees, so experts can get paid to further investigate the deadly iron ore waste dam burst.

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