Brazil court freezes further $1.3 billion in Vale accounts over dam burst

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Brazil court freezes further $1.3 billion in Vale accounts over dam burst


FILE PHOTO: A rescue worker is seen after a dam, owned by Brazilian miner Vale SA, burst in Brumadinho, Brazil January 26, 2019. REUTERS/Washington Alves/File Photo

BRASILIA (Reuters) – A state court in Brazil on Sunday blocked 5 billion reais ($1.33 billion) in Vale SA assets to pay for damages from a tailings dam that burst at an iron ore mine, according to a statement from the state prosecutor’s office in Minas Gerais.

Courts have now blocked a total of 11 billion reais in Vale’s accounts against damages from the ruptured dam in the town of Brumadinho in Minas Gerais, which unleashed a torrent of mud. The confirmed death toll was at least 37, with roughly 250 people still missing.

Reporting by Jake Spring; Editing by Jeffrey Benkoe



Reuters: Top News – Brazil court freezes further $1.3 billion in Vale accounts over dam burst

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