Miner Vale says fire to halt operations at Malaysia distribution center
The company said the fire should have a reduced impact on shipments as 10 days of preventive maintenance was already programmed at the terminal.
The company said the fire should have a reduced impact on shipments as 10 days of preventive maintenance was already programmed at the terminal.
Four people from the German consulting group Tüv Süd, company that certified the safety of Vale’s dams, were also detained.
The unusual gem found by Alrosa weighs 65.7 carats.
The authorities had closed the port terminal operated by the miner and fined it 35 million reais ($9.43 million) for throwing mining residues in the sea.
State-development bank BNDES intends to sell shares in the miner, but has yet to find a good moment to do so.
"The Brumadinho disaster shows that favoring profit over safety has been Vale's standard operating procedure."
Vale has flagged production cuts of as much as 70 million tons in the wake of the deadly dam breach, spurring worries about a substantial loss of seaborne supply.
We used to say these kinds of mining incidents were acts of God, but now ... we consider them failures in engineering.
This week’s drama has played out as the most important iron ore user has been offline, with Chinese markets closed for Lunar New Year.
The indicated resource totals 7.6 million tonnes grading 117 g/t silver, 0.5% zinc and 0.3% lead.