News Detail

Vale expects to close deal over Brazil dam collapse in October

Reuters · 09/11 23:05

Listen to the news

Vale expects to close deal over Brazil dam collapse in October

SAO PAULO, Sept 11 (Reuters) - Brazilian miner Vale VALE3.SA expects to reach a final agreement with authorities in October regarding reparations related to the collapse of a dam in the city of Mariana, it said on Wednesday in a securities filing.

Last week, Reuters reported that Vale, BHP BHP.AX and their joint venture Samarco [RIC:RIC:SAMNE.UL] could soon reach such an agreement to pay around 100 billion reais ($17.6 billion), with the final terms of the deal expected to come in October.

($1 = 5.6688 reais)

(Reporting by Andre Romani; Editing by Kylie Madry)

((Andre.Romani@thomsonreuters.com; 11 991314109;11 56447500;))

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.

What's Trending

No content on the Webull website shall be considered a recommendation or solicitation for the purchase or sale of securities, options or other investment products. All information and data on the website is for reference only and no historical data shall be considered as the basis for judging future trends.