Brazil’s Vale Agrees to US$7 Billion Brumadinho Disaster Settlement

Investors cheered the agreement: Vale shares, suspended for the announcement, reopening up 2.3%.

RIO DE JANEIRO, BRAZIL - Brazilian mining giant Vale S.A. said on Thursday, February 4th, that it reached a R$37.7 billion (US$7 billion) agreement with prosecutors and the state of Minas Gerais to settle claims stemming from the 2019 collapse of a tailings dam that killed 270 people.

In a securities filing, Vale said it will book an additional R$19.8 billion related to the agreement this year.

Investors cheered the . . .

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