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Brazil's Vale ordered to set aside $1.48 billion for Brumadinho dam damages

Published 05/27/2020, 08:45 AM
Updated 05/27/2020, 08:50 AM
© Reuters. The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo

SAO PAULO (Reuters) - A judge in Brazil's Minas Gerais state partially granted an injunction sought by prosecutors ordering iron ore miner Vale SA (NYSE:VALE) to deposit 7.9 billion reais ($1.48 billion) for payment of potential fines related to a dam disaster last year.

Vale faces multiple legal battles after a tailings dam it owned and operated in the town of Brumadinho burst, killing more than 270 people.

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