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Vale's CEO discusses out-of-court compensation to those affected by the dam breach in Brazil

Published by , Assistant Editor
Global Mining Review,

Vale's CEO Fabio Schvartsman met on the afternoon of 31 January with Brazil's Attorney General Raquel Dodge in Brasilia to propose payment of extrajudicial compensation to victims and family members of those affected by the breach of Dam 1 of the Córrego do Feijão mine, which took place on the afternoon of 25 January.

"Our proposal is to indemnify those affected by the disaster as soon as possible," stated the CEO.

According to Schvartsman, payments will be made as soon as the company signs the extrajudicial agreement with the Minas Gerais state authorities responsible for the case.

"We are prepared to waive the lawsuits to expedite an agreement with the authorities of the State of Minas Gerais, so Vale can stand up immediately to this indemnification process," he said.

Vale's CEO also stated that the company is committed to repairing the environmental damages caused by the dam breach, but, right now, the focus is on alleviating the pain of those affected. Our top priority are the victims and their families. The other issues are important and will be taken care of, but we need to act promptly on what's at hand," he concluded.

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