- Write by:
-
Friday, January 26, 2024 - 22:24:13
-
111 Visit
-
Print
Brazilian President Luiz Inacio Lula da Silva on Thursday criticized mining giant Vale for “not having done anything to repair the destruction” caused by the collapse of a tailings dam in Brumadinho in 2019.
Why it is important
Brazilian President Luiz Inacio Lula da Silva on Thursday criticized mining giant Vale for “not having done anything to repair the destruction” caused by the collapse of a tailings dam in Brumadinho in 2019.
Why it is important
Lula’s comments come as Reuters reported last week, citing a source familiar with the matter, that the leftist president wants former Finance Minister Guido Mantega to be appointed to a board seat at Vale or even as its chief executive.
Markets have been reacting negatively to the possibility of Mantega’s appointment, with shares of the company down 10% so far this year, as it would suggest government influence over the firm that was privatized in the 1990s.
Key quotes
“Five years and Vale has done nothing to repair the destruction caused,” Lula said in a post on social media platform X.
“Support for victims’ families, environmental recovery and, above all, inspection and prevention in mining projects are needed so we do not have new tragedies.”
Context
Jan. 25 marks the fifth anniversary of the Brumadinho disaster, when the collapse of a tailings dam at a Vale-owned mine unleashed a wave of mud killing 270 people and damaging homes, forests and rivers.
Vale, which expects expenses related to the Brumadinho and the similar 2015 Mariana disaster to reach 3 billion reais ($610.10 million) this year, did not immediately respond to a request for comment.
Vale last week published a report saying it “remains committed to Brumadinho repairs,” adding it has so far reached deals with more than 15,400 people to pay damages. It also noted it has been decommissioning its upstream tailing dams like the one that collapsed in Brumadinho.
Short Link:
https://www.miningnews.ir/En/News/627911
Zimbabwe’s President Emmerson Mnangagwa has re-appointed Winston Chitando as the southern African nation’s mines ...
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
A new report by IDTechEx states that investing in e-haul trucks could result in major savings for miners due to the ...
Australia’s Fortescue on Wednesday logged a larger-than-expected decline in third-quarter iron ore shipments, following ...
Iron ore futures prices ticked lower on Monday, weighed down by diminishing hopes of more stimulus in top consumer ...
Copper traded near $10,000 a ton, hitting a new two-year high on its way, as investors continue to pile in on a bet that ...
Adriatic Metals is taking over as the operator of the Rupice deposit development, which is part of the company’s Vares ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Iron ore futures prices drifted higher on Thursday as the latest soft data from top consumer China triggered renewed ...
No comments have been posted yet ...