Vale investing over $467 million near Brumadinho following deadly disaster

Wednesday, 26 June 2019 22:42:28 (GMT+3)   |   Sao Paulo

Brazilian miner and iron ore producer Vale said this week it will invest BRL 1.8 billion ($467.08 million) near the Brumadinho area by 2023 to repair environmental damages it caused, as well as to reinforce the stability of remaining structures, including the B6 iron ore dam. The Brumadinho disaster killed at least 246 people and left another 24 missing.

Vale said out of the total investments, BRL 400-500 million ($103.83-$129.77 million) will be spent this year. The money will also be used to repair and build equipment for public use.

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