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Reuters
Reuters
Business

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

BRUMADINHO, Brazil (Reuters) - Brazilian iron ore miner Vale will spend 1.8 billion reais ($469 million) 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.

FILE PHOTO: A member of a rescue team searches for victims after a tailings dam owned by Brazilian mining company Vale SA collapsed, in Brumadinho, Brazil January 30, 2019. REUTERS/Adriano Machado

(Reporting By Marta Nogueira; Editing by Chizu Nomiyama)

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