Brazil’s Vale to resume work at largest mine in Minas Gerais state
A local court has cleared the way for Vale to resume operations at the Brucutu mine.
A local court has cleared the way for Vale to resume operations at the Brucutu mine.
The most-traded iron ore contract for May delivery on the Dalian Commodity Exchange closed up 0.2% at $94.66 a tonne.
Aussie miners paid A$30.6 billion in company tax and royalties in 2017-18.
Vale has faced growing pressure to prove that its remaining dams are safe.
The world’s iron ore producer has faced continued backlash from Brazilian authorities since the deadly mining dam accident that killed around 300 people in January.
Brazilian prosecutors requested that mining company Vale SA be ordered to guarantee the funds.
Vale did not identify the executives or say what relation they had with the operation in Brumadinho, where the Jan. 25 disaster occurred.
The world's largest iron ore miner plays an important role in Brazil's economic development.
The allegations were contained in a document given to Vale recommending the immediate “temporary removal” of top executives.
"Being part of the old Brazil, the land of impunity, doesn't work anymore."