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.
Vale’s ex-president Fábio Schvartsman may avoid trial for the Brumadinho dam collapse that killed more than 250 people in Brazil in 2019.
The former executive’s defense has filed a habeas corpus, which is set to be reviewed this Wednesday by the Federal Regional Court of the 6th Region in Brazil.
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 aims to have the criminal action dismissed. Families of the victims plan a mobilization in front of the courthouse in Belo Horizonte during the trial.
In addition to Schvartsman, the case involves 15 other individuals.
Read More: Brazil’s comptroller general alleges Vale corrupted inspection in Brumadinho case
