8th World Antimony Forum

TBD
Guiyang, Guizhou, China

12th Rare Earth Summit

TBD
Hangzhou, Zhejiang, China

11th Aluminum Raw Materials Summit

TBD
Hangzhou, Zhejiang, China

9th Magnesium Summit

TBD
Hangzhou, Zhejiang, China

13th World InBiGeGa Forum

TBD
Hangzhou, Zhejiang, China

7th World Antimony Forum

June 13-14, 2019
Changsha, Hunan, China

7th Refractory & Abrasive Materials Summit 2019

May 23-24, 2019
Qingdao, Shandong, China

10th Aluminum Raw Materials Summit

May 16-17, 2019
Zhengzhou, Henan, China

11th Rare Earth Summit

May 9-10, 2019
Qingdao, Shandong, China

8th Magnesium Summit

April 11-12, 2019
Zhuhai, Guangdong, China

12th World InBiGeGa Forum

March 14-15, 2019
Zhuhai, Guangdong, China

Vale predicts to reach global settlement on dam burst at end of this year

2019-06-14 17:07:56   【Print】
Brazilian Vale said on June 13 that it expects to reach a global settlement on the economic and environmental damages caused by January's burst of its Brumadinho tailings dam at the end of this year or next year.

After the mine disaster occurred, Vale not only dealt with the follow-up issues, but also was suffered by the resignation of its CEO and other executives, and had to spend billions dollars for compensation and cleanup costs.

Vale announced that it has been in constant talks with federal and state prosecutors to reach a global agreement that is acceptable in terms of socio-economic and environmental compensation.

The expectation time of a global settlement was put forward by a senior executive of the company during a meeting with analysts on June 12.

After attending a meeting attended by Vale CEO, Eduardo Bartolomeo, and CFO, Luciano Siani, the brokerage company XP Investimentos released a report that Vale prepared USD4.5 billion in respond to Brumadinho mine disaster.Asian Metal Copyright The full resumption of the mine depends on whether the court thinks it is safe.Asian Metal Copyright This amount does not include environmental costs, which are likely to be gradually increased with the progress.

Credit Suisse, who also attended the meeting, said that it's predicted that additional environmental expenditure would be between USD1-1.5 billion.

Vale said the survey of mine disaster causes conducted by international law firm Skadden, Arps, Slate, Meagher & Flom LLP is expected to be ended by the end of September.

Vale also said during the meeting that it expected to restart the operation of Brucutu mine soon. The full resumption of the mine depends on whether the court thinks it is safe.Asian Metal Copyright5 billion.Asian Metal Copyright The mine currently operates at only one-third of its capacity, or 10 million tons per year.

.Asian Metal Copyright The expectation time of a global settlement was put forward by a senior executive of the company during a meeting with analysts on June 12.Asian Metal Copyright