Brazil's Vale to invest 1.8 billion reais in dam safety measures

FILE PHOTO: The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. REUTERS/Washington Alves - Copyright Washington Alves(Reuters)

By Reuters

Published on 26/06/2019 - 16:34 GMT+2•Updated 10/09/2024 - 3:16 GMT+2

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BRUMADINHO, Brazil (Reuters) - Brazilian iron ore miner Vale will spend 1.8 billion reais (370.15 million pounds) on safety and environmental recovery measures for the structures that remain standing near its Brumadinho dam that collapsed five months ago, killing nearly 250 people, an executive said on Wednesday.

The spending measures, announced by Vale's recovery and development director Marcelo Klein, will be in addition to the $4.5 billion the miner has already provisioned for costs related to the dam burst.