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Brazilian miner Vale SA and state authorities narrowed their gap in a potential settlement deal over the Brumadinho mining disaster to 11 billion reais ($2 billion) before talks fell apart, a person close to the negotiations told Reuters on Friday. The 2019 disaster in the town of Brumadinho in Minas Gerais state killed some 270 people when a dam ruptured at a Vale facility and unleashed a torrent of mining waste. The Minas Gerais state government lowered its demands for a settlement to 40 bi...
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VALE S.A. (VALE) closed at $17.47 in the latest trading session, marking a +0.11% move from the prior day.
Brazilian iron miner Vale SA has not reached an agreement on a settlement for damages regarding a deadly dam disaster and negotiations are currently on hold, an official with the government of Minas Gerais said on Thursday. Over 300 people died in 2019 in the town of Brumadinho in Minas Gerais after a dam burst. The state government and Vale had been in meetings to discuss an agreement, but those negotiations ended unsuccessfully on Thursday, said Mateus Simões, a state official.
Investors need to pay close attention to Vale (VALE) stock based on the movements in the options market lately.