Brazil’s Vale to pay $46 million for failing to meet deadline to decommission tailings dams By Reuters

February 25, 2022 admin Stock News 0

© Reuters. FILE PHOTO: The logo of the Brazilian mining company Vale SA is seen in Brumadinho, Brazil January 29, 2019. REUTERS/Adriano Machado

RIO DE JANEIRO (Reuters) – Brazilian miner Vale SA (NYSE:) will sign on Friday an agreement with local authorities in which it must pay 236.7 million reais ($46.0 million) for failing to meet a legal deadline to decommission its tailings dams in the state of Minas Gerais, a document seen by Reuters showed.

According to the draft agreement, struck with the Minas Gerais state prosecutors, the company will also undertake a series of obligations to remove all of its upstream tailing dams. In a statement, Minas Gerais prosecutors confirmed the signing of the agreement.

($1 = 5.1457 reais)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Be the first to comment

Leave a Reply

Your email address will not be published.


*