Vale paying indemnities following Brumadinho disaster

Tuesday, 16 July 2019 01:01:34 (GMT+3)   |   Sao Paulo
       

Brazilian iron ore producer Vale and Minas Gerais state prosecutors agreed the local miner should pay indemnities following the Brumadinho disaster, which killed 248 people and left another 22 missing. Vale said it will pay BRL 700,000 ($185,780) indemnity to each family member (spouses, sons or daughters) of the company’s workers who died during the incident.

Vale did not disclose how much it would spend to pay for all indemnities, given the scale of the tragedy. Public prosecutors were demanding a BRL 1 million ($265,360) indemnity.

Additionally, Vale will also pay a monthly kindergarten or education allowance for sons and daughters of employees who died during the dam burst, who are 3 up to 25 years old.

Vale said it will also make a deposit of BRL 400 million ($106.4 million) to pay for collective moral damages.

As a result of the agreement with prosecutors, Vale managed to unblock BRL 1.6 billion ($424.5 million) in cash, which was seized by courts during the case.

USD = BRL 3.77 (July 16)


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