Vale and Minas Gerais state negotiate multi-billion-dollar Brumadinho deal

Monday, 16 November 2020 20:51:12 (GMT+3)   |   Sao Paulo
       

Both Brazilian miner Vale and the government of Minas Gerais state are reportedly negotiating a settlement for the Brumadinho dam collapse, which killed 272 people, a media report by Estadao said.

The terms of the potential settlement are under court privilege, but the media report suggested the settlement could reach as much as BRL 28 billion ($5.7 billion). The deal also doesn’t include the families affected by the deadly dam waste collapse.

The Guaicuy Institute, which provides technical and legal advice to the affected communities, said reports indicate a settlement could reach BRL 54 billion ($9.9 billion).

The potential Brumadinho settlement with the government of Minas Gerais doesn’t affect the BRL 155 billion ($28.5 billion) lawsuit reinstated by prosecutors over Mariana.


Similar articles

Vale selected to begin award negotiations for US briquette plant

26 Mar | Steel News

Vale CEO to stay in position until year-end

11 Mar | Steel News

Brazilian government increases pressure on Vale to name new CEO

29 Feb | Steel News

Vale's iron ore exports up 36.8 percent in December

29 Feb | Steel News

Vale has plans to increase iron ore sales outside China

27 Feb | Steel News

Anglo American to integrate Vale’s high quality iron resources into Brazilian operations

26 Feb | Steel News

Net profit declines at Vale in 2023

23 Feb | Steel News

Dispute over Vale’s CEO position could be in final stage

06 Feb | Steel News

Iron ore production increases at Vale in 2023

30 Jan | Steel News

Vale, BHP and Samarco fined $9.7 billion in Brazil

26 Jan | Steel News