Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Former Vale President Fábio Schvartsman achieved an initial victory in his bid to evade trial for the 2019 Brumadinho dam collapse, which claimed the lives of over 250 people in Brazil.
The federal judge Flávio Boson Gambogi, from the 6th Region Federal Regional Court (TRF6), voted in favor of the dismissal of the homicide case against Schvartsman, related to the dam rupture.
The judge, who is the rapporteur of the executive’s habeas corpus in the court, presented his vote on Wednesday, but the analysis of the appeal was suspended due to a request for further examination.
With the Brazilian judiciary recess starting next week, the case is only expected to be re-examined from February onward.
Schvartsman faces charges of qualified intentional homicide and environmental crimes related to the dam collapse at the Córrego do Feijão mine in Brumadinho, Minas Gerais.
He had led the company from May 2017 before taking a leave in March 2019 after federal prosecutors recommended his immediate exit.
Schvartsman’s defense request seeks the dismissal of the criminal action.
Families of the victims protested outside the courthouse in Belo Horizonte during the trial.
In addition to Schvartsman, the case involves 15 other individuals.
