Brazil’s Vale books hefty dam disaster charges, but bullish about core earnings

Some US$3.9 billion of the provisions are part of a recently announced US$7 billion agreement with prosecutors and the state of Minas Gerais.

RIO DE JANEIRO, BRAZIL - Brazil’s Vale SA logged US$4.9 billion in provisions related to the Brumadinho dam disaster in quarterly earnings, but its ferrous metal division turned in a strong performance and the miner was upbeat about the outlook for key products.

Some US$3.9 billion of the provisions are part of a recently announced US$7 billion agreement with prosecutors and the state of Minas Gerais to settle claims stemming from the collapse of the dam in 2019 which killed 270 people.

The rest of the settlement will be paid out over a period of . . .

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