Brazil's mining agency (ANM) has ordered Vale to suspend operations at its Fabrica and Vargem Grande complexes, as part of an ongoing crackdown following last month's deadly dam break at the iron producer’s Corrego do Feijão mine.
Brazil's government on Monday banned new upstream mining dams and ordered the decommissioning of all such dams by 2021, targeting the type of structure that burst last month in the town of Brumadinho, killing hundreds of people.
Russian lender Gazprombank has frozen the accounts of Venezuelan state oil company PDVSA and halted transactions with the firm to reduce the risk of the bank falling under US sanctions, according to Reuters.
Brazil state-run oil firm Petrobras said it had concluded a long-running dispute with the country’s ANP petroleum regulator, agreeing to pay 3.5 billion reais (US$ 940 million) to end an oil-royalty spat.
Around 200 residents were evacuated from an area near a tailings dam in Brazil operated by Vale SA late on Saturday, amid fears that it was structurally weak and could burst like a similar barrier failure last month that killed some 300 people.
Brazilian authorities arrested eight employees of mining giant Vale on Friday over a dam collapse at one of its mines three weeks ago that killed at least 166 people and left 147 missing, presumed dead.
Venezuela should honour its debt obligations to Russia despite the political situation in Caracas, Russian Finance Minister Anton Siluanov said on Thursday. ”Russia hopes that Venezuela, even in case of a change of power in the country, will fulfil its obligations under the debt to Russia, Siluanov told reporters on the sidelines of the Russian Investment Forum in the Black Sea resort of Sochi.
Pressure is growing on global commodity trading firms with strong ties to Switzerland for their alleged involvement in the “Car Wash” corruption scandal in Brazil. The US Federal Bureau of Investigation is investigating two Vitol executives in the Americas, according to Reuters news agency.
Chevron Corp. Chief Executive Officer Mike Wirth pledged to work closely with the U.S. to remain in Venezuela despite a spiralling crisis that has led rival oil major Total SA to retreat.
A group of international non-governmental organizations on Tuesday demanded that Brazilian miner Vale SA be excluded from the United Nations' corporate responsibility pact, after a mining dam burst that killed an estimated 300 people.