Brazilian mining giant Vale will pay nearly $ 7 billion to the settlement before the Brumadinho dam breach

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The settlement with the Brazilian state of Minas Gerais, announced Thursday, is the largest in the country’s history, according to local media. The Court of Justice of Minas Gerais brokered the agreement, which will provide funds to affected communities, emergency relief and resources for urban mobility.

In January 2019, a dam has wastewater from Vale’s (VALLEY) the iron ore mine in the town of Brumadinho erupted, burying workers’ cafeterias and dozens of houses under a toxic wave of silt. It also polluted local rivers.
Minas Gerais, a state whose name translates to “general mines,” is a mining center in southeastern Brazil. The 2019 disaster came after another mining dam in the state burst in November 2015, flooding the small village of Mariana and killing 19 people.

“Vale is committed to fully repairing and compensating for the damage caused by the tragedy in Brumadinho and to increasingly contribute to the improvement and development of the communities in which we operate,” said CEO Eduardo Bartolomeo in a statement. statement.

Brazil's Brumadinho Dam was certified as 'stable' weeks before it collapsed
In 2016, mining company Samarco – a joint venture between Vale and BHP Billiton (BBL) – reached a deal with the Brazilian government to pay up to 24 billion reais ($ 6.2 billion) for the Mariana Dam collapse.

The disasters, which have left thousands of families in mourning, have re-examined the company’s practices and environmental regulations in Minas Gerais.

Vale has said that since the last breach two years ago, the company has sought to work with “affected families and provide assistance to restore their dignity, well-being and livelihoods.”

“In addition to meeting the most immediate needs of affected people and regions, it is also working on projects that promote sustainable change to restore communities and benefit the population effectively,” the company said in its statement.

– Marcia Reverdosa, Sheena McKenzie and Michelle Toh contributed to this report.

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