Brazilian mining company Vale SA said on Monday it would pay 400 million reais (...
FILE PHOTO: A view of the entrance of Brucutu mine owned by Brazilian mining company Vale SA, in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. REUTERS/Washington Alves
RIO de Janeiro - Brazilian mining company Vale SA said on Monday it would pay 400 million reais to compensate workers affected by the deadly rupture of a tailings dam in January that killed at least 240 people. In a statement, Vale said the deal also involves individual compensation for moral and material damages, including job stability and other benefits for a certain period of time.
In May, the company said it was taking $2.42 billion in writedowns for payments to victims’ families and estimated out-of-court settlements for various damages related to the dam collapse, including $247 million for a “framework agreement” with labor prosecutors.
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