Vale's former chief executive officer was charged with homicide for the massive dam collapse that killed more than 250 people in Brazil last January (2019). Fabio Schvartsman is the highest-profile executive facing criminal charges for Brazil's worst environmental disaster.
A dam owned by iron ore company Vale SA that was the subject of an investigative report by a TV program last week is structurally sound and there is no reason for concern, Brazil’s national mining regulator said this week.
Mining giant Vale failed to report problems at a massive tailings dam in Brazil that could have averted its collapse, killing hundreds, a government agency said on Tuesday.
Brazilian federal police have proposed criminal charges against mining giant Vale and German safety firm Tüv Süd and 13 of their employees over January's deadly dam collapse, reports say.
Brazilian miner Vale SA on Wednesday said it swung to a quarterly loss as the company announced more than US$2 billion in fresh write-downs related to two deadly dam bursts suffered by the company over a period of less than four years.
Brazilian Senate inquiry into the collapse of a Vale dam that killed nearly 350 people will recommend indictments of 14 people, including Vale executives, according to Brazil's official news service, Agencia Brasil, on Monday.
Brazilian miner Vale SA said on Wednesday that it will fully resume operations at its Brucutu mine within 72 hours after an appeals court overturned an earlier ruling that halted processing because of concern about the safety of a nearby dam.
Iron ore prices look set to be stronger for longer, potentially delivering windfall profits for West Australia’s big miners for the next two years. As the iron ore price hit a five-year high of US$107.50/t this week, analysts have begun scrambling to revise their estimates as they start to digest the impact of supply disruptions out of Brazil and how long the outages could linger.
Latin American currencies softened against a stronger U.S. dollar on Thursday, a day after the U.S. Federal Reserve kept interest rates steady, while most regional stock markets broadly fell along with their global peers.
Brazil's Real and shares rose on Monday, recovering after declines last week, while the currencies of oil exporters such as the Mexican and Colombian pesos weakened as crude prices dipped.