Brazil Mining Giant Vale to Pay $107 Million to Compensate Workers for Dam Disaster

RIO DE JANEIRO — The giant Brazilian mining company Vale said on Monday it would pay 400 million reais, or about $107 million, to compensate workers affected by the deadly rupture of a dam in January that killed at least 247 people.

The announcement follows a ruling by a state court judge last week that the company was financially liable for the disaster, in which a huge wave of toxic waste breached the dam and inundated the town of Brumadinho, in Minas Gerais State, on Jan. 25.

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.

Vale faces multiple criminal and civil investigations related to the dam breach that are expected to go on for years.

Prosecutors have said they intend to charge Vale executives for what they have described as a culture of negligence that led to the disaster.

Sahred From Source link World News

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