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.
Brazilian miner Vale SA may adjust provisions for a deadly dam burst in Brumadinho this year as part of its second-quarter results following a settlement with workers, the company said in a securities filing on Tuesday.
Vale announced on Monday it would pay 400 million reais ($106 million) to compensate workers affected by the deadly rupture of a tailing dam in January. The company did not detail how it planned to change its provisions.
($1 = 3.7673 reais)
(By Carolina Mandl)
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