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Vale nets improved stability certificates for 3 Brazilian dams

Vale SA said Oct. 1 that three of its dams in Brazil received improved stability condition certifications, or DCEs, following negative evaluations in March.

The dams are dam 5 of Águas Claras Mine and Taquaras Dam of Mar Azul Mine in Nova Lima and the Pondes de Rejeitos Dam of the Igarapé Bahia unit, bringing the total number of positive DCEs to 82.

The company's Capim Branco sediment dam of the Paraopeba iron ore complex in Brazil's Minas Gerais state received a negative DCE this half due to the reevaluation of information related to the structure.

Vale noted that DCEs for upstream deactivated dams, parts of which had been evacuated under the mining dams emergency action plan, remain negative.

The company initiated the process of de-characterizing these structures by keeping reservoirs dry and minimizing water supply along with reinforcing safety measures downstream.

The deactivated Vargem Grande dam of the Vargem Grande iron ore complex in Minas Gerais, which was built by the upstream method, also maintained its negative DCE.

Additionally, several other structures with complementary studies and work underway kept their negative DCEs.

The negative DCEs have not impacted Vale's 2019 forecast sales volumes of iron ore and pellets of 307 million tonnes to 332 Mt, and the company is working with specialists to increase safety factors to ensure the stability of its structures while it continues to conduct regular field inspections and monitor its dams.

CFO Luciano Siani was recently reported to have said the company does not intend to repurchase shares or pay dividends in the aftermath of the Feijao dam burst in Brazil earlier this year.