Samarco unveils restructuring talks as Vale spill hits bonds
"Negotiations may or may not continue," the company said in statement.
"Negotiations may or may not continue," the company said in statement.
“Before pointing out fingers we need to see what happened first”
"The fact is that Vale's share drop was even steeper than some market participants expected"
We do not expect to see a big rebound in iron ore prices in view of this deadly accident as China's iron ore demand over the short term will be mild due to weak seasonality
"We're worried that the mine accident might lead to higher premiums on low-aluminium iron ore"
By Monday, local officials had confirmed at least 60 people dead and said they fear that among the hundreds who are still missing there will be very few survivors.
“How can they let this happen again?” Melo said. “They wiped out our city.”
Vale plunged as much as 20 percent in Sao Paulo on Monday, the biggest intraday drop since October 2008.
An alarm warning of an imminent mining dam rupture was issued on Sunday morning near Brumadinho, the same Brazilian community where the collapse of Vale's dam on Friday killed at least 58 and left over 400 more feared dead.
As early as next week, iron ore prices may start to reflect the impacts of Vale's dam bursting at Corrego de Feijao in Brumadinho.