Tag: Vale

Friday, February 26th 2016 - 11:02 UTC
Brazil's Vale reports record losses; puts prime assets on sale to lower debt

Brazilian miner Vale SA put its prime assets on the block on Thursday after taking the biggest loss in decades, but analysts said the target to make $10 billion in 18 months was unrealistic and expressed concern a fire sale could destroy equity value.
Wednesday, February 24th 2016 - 06:05 UTC
Homicide charges for seven top officials linked to Brazil's worst mining accident

Brazilian authorities have charged the president of mining company Samarco and six others with homicide for the mining disaster that killed 19 people last November. Police in Minas Gerais State have asked for Ricardo Vescovi, along with five other Samarco executives and one contractor to be arrested.
Friday, January 15th 2016 - 12:24 UTC
Criminal charges against mining companies involved in major waste spill in Brazil

Police in Brazil said Thursday they have brought criminal charges against two mining companies and seven executives over a mine waste spill that buried a village and killed 17 people.Federal police accuse Brazilian iron ore giant Vale, mine operator Samarco and company officials including Samarco's chief executive, Ricardo Vescovi, of violating Brazil's environmental crimes law in connection with the disastrous November 5 collapse of a waste reservoir.
Thursday, December 24th 2015 - 10:56 UTC
Brazil is suing BHP and Vale 'at least' US$ 5bn for Minas Gerais mining disaster

A Brazilian federal court has ordered BHP Billiton and Vale to set aside US$ 491.5 million, with the possibility of billions more, has frozen the mining giants' assets in the country, and ordered it to carry out extensive environmental and social work in the region hit by a dam burst at its joint venture.
Wednesday, December 2nd 2015 - 12:38 UTC
Brazil's worst mining disaster will stress test 'king iron' Vale's resources

Brazil's deadly mining disaster could cost Vale SA at least US$443 million, but it is too early to put a price tag on what it expects to be a long clean-up from the pollution spilled when the toxic dam burst.
Friday, November 20th 2015 - 10:16 UTC
BHP Billiton and Vale face civil lawsuit of US$ 3.69bn over dam collapse in Brazil

A BHP Billiton and Vale joint venture in Brazil is facing its first civil lawsuit over the dam collapse at its iron ore mine on November 5 that buried a town and contaminated the region's main river.
Friday, November 13th 2015 - 09:23 UTC
Mine disaster: Brazil fines BHP Billiton and Vale; expects companies to pay cleanup costs

Brazilian President Dilma Rousseff has slapped preliminary fines worth 250 million Reais ($94 million) against a BHP Billiton-Value owned mine in Minas Gerais state where two dams burst, killing at least seven people.
Wednesday, November 11th 2015 - 07:07 UTC
Brazil's mining disaster impacts BHP Billiton shares on fears of cleanup costs

Investors continued to dump shares in mining giant BHP Billiton Ltd. following the deadly dam burst last week at its jointly owned iron-ore mine in Brazil, even as the company sought to clarify responsibility for the disaster that has already claimed the lives of three people.
Tuesday, November 10th 2015 - 08:05 UTC
Brazil's mining disaster forces cities 300km downstream to cut drinking water supply

Mud and wastewater from burst dams at a Brazilian iron ore mine cut off drinking water and raised health and environmental concerns in cities more than 300 km downstream on Monday, amid increasingly dire search efforts in a village devastated by the mudslides.
Monday, November 9th 2015 - 08:02 UTC
Mining disaster in Brazil: 28 remain disappeared; BHP Billiton CEO flying to Minas Gerais

Brazilian authorities are still struggling to determine what caused the rupture in dams at an iron ore mine and desperately working to recover the bodies of as many as 28 people believed to have been swept away in the massive mudflow and flood.