July 15, 2019 / 10:57 PM / 5 months ago

Vale to pay $106.5 million to workers affected by Brazil dam disaster

FILE PHOTO: A view of the entrance of Brucutu mine owned by Brazilian mining company Vale SA, in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. REUTERS/Washington Alves

RIO de Janeiro (Reuters) - Brazilian mining company Vale SA said on Monday it would pay 400 million reais ($106.52 million) to compensate workers affected by the deadly rupture of a tailings dam in January that killed at least 240 people.

In a statement, Vale said the deal also involves individual compensation for moral and material damages, including job stability and other benefits for a certain period of time.

In May, the company said it was taking $2.42 billion in writedowns for payments to victims’ families and estimated out-of-court settlements for various damages related to the dam collapse, including $247 million for a “framework agreement” with labor prosecutors.

Reporting by Marta Nogueira; Writing by Gabriela Mello; Editing by Richard Chang

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below