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.

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