trending Market Intelligence /marketintelligence/en/news-insights/trending/K_jQixprwVC5bPzukwympA2 content esgSubNav
In This List

Vale ordered to suspend Minervino, Cordao Nova Vista dams in Brazil

Blog

Battery Metals Trends

Blog

Insight Weekly: SPAC momentum builds on; higher rates fear; copper prices rebound

Blog

Q&A: U.S. Battery Storage and Global Battery Metals Trends Webinar

Blog

Greenhouse gas and gold mines - Emissions intensities unaffected by lockdowns


Vale ordered to suspend Minervino, Cordao Nova Vista dams in Brazil

Vale SA was ordered by a Brazilian court to suspend its Minervino and Cordao Nova Vista dams until the mining major proves the stability of the structures, Reuters reported March 18.

The latest development dealt another blow to the mining giant, which has come under fire following the fatal tailings dam burst at its Feijao iron ore mine in January.

The suspension will not have a significant impact on its operations, Vale said, and that mining waste was already shipped to other unspecified structures.

Previously, Vale was ordered to stop operations at its Timbopeba iron ore mine in Minas Gerais state, as well as the Doutor dam which receives tailings from Timbopeba, on top of a prior order to halt activities at the Fabrica and Vargem Grande iron ore complexes, as well as the Brucutu mine, also located in Minas Gerais.

A Brazilian court froze 1 billion reais in Vale's accounts as compensation for the community affected by the Feijao disaster.

As of March 18, US$1 was equivalent to 3.81 Brazilian reais.