BRIEF-Vale says it has no clear estimate of Samarco disaster cost

Tue Dec 1, 2015 12:57pm EST
 
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Dec 1 (Reuters) - Vale SA executives spoke on Tuesday at the New York Stock Exchanges for the Rio de Janeiro-based mining company's annual Vale Day investor conference

* Vale CEO says Valepar shareholder group had hoped to renew its control accord by end of this year, but that is now unlikely as a result of Samarco disaster and other developments

* Vale is scaling down Carnalita potash project in Brazil's Sergipe state to about 500,000 tonnes/year from more than 1 million tonnes

* Vale has no estimate of cost of environmental damage to rivers and environment caused by dam-burst at Samarco mine in Brazil, any value is speculation, company lawyer said.

* Vale CEO Murilo Ferreira says the company must be very prudent about its dividend policy considering cash flow concerns in 2016 and 2017

* Vale says liability for Samarco environmental damage under Brazilian law only shifts to Vale and Australia's BHP Billiton , Vale's 50-50 partner, if Samarco itself can't pay

* Vale says iron ore sales volumes may exceed production volumes in 2016 because of depletion of stocks in brazil Further company coverage: (Reporting by Jeb Blount)