Brazil freezes Vale assets after dam rupture
https://seekingalpha.com/news/3445563-brazil-freezes-vale-assets-dam-rupture
- Brazilian state prosecutors and public defenders in the state of Minas Gerais have won a bid to freeze assets worth 2.95B reais ($765M) belonging to Vale (NYSE:VALE).
- It follows the rupture of one of its tailings dam in January that killed more than 300 people in the town of Brumadinho.
- According to the filing, the decision was based on ensuring compensation for those who may have suffered losses from the cessation of operations at Vale’s South Upper dam at Gongo Soco in Barão de Cocais.
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