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Vale will invest another $469 million to ensure dam safety
Jun 27,2019 15:17CST
translation
Source:SMM
A Vale (Vale) executive said on Wednesday that the company would spend $469 million to ensure the safety of buildings near the Brumadinho dam and the restoration of the surrounding environment. The Brumadinho dam broke in January, killing nearly 250 people at the time. Earlier, Vale had spent $4.5 billion to deal with the dam's breakwater.
The content below was translated by Tencent automatically for reference.

SMM6 27-Vale (Vale) executive said on Wednesday that the company will spend $469 million to ensure the safety of buildings near the Brumadinho dam and the restoration of the surrounding environment.

The Brumadinho dam broke in January, killing nearly 250 people at the time.

Earlier, Vale had spent $4.5 billion to deal with the dam's breakwater.

The Brucutu iron ore, which is currently affected by the dam break, was finally able to resume production on June 22, so Vale (Vale SA) resumed production of 1/3 of its production, which was suspended in January.

SMM believes that although the annual production capacity of Vale is 30 million tons, it is difficult to significantly improve the decline in the global iron ore supply. Superimposed Rio Tinto twice cut its 2019 iron ore shipment target to 3.2-330 million tons in June, and SMM expects the average iron ore price range to remain high at $85 to $95 a tonne in 2019. "correlation analysis-Vale resumes 1/3 iron ore production but global supply shortage remains unchanged

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