Tag: vale

Vale preparing for potential fuel leak from damaged ore carrier

Brazilian mining company Vale SA has begun preparations for a potential fuel leak from the damaged iron ore carrier MV Stellar Banner, which is stranded off the Brazilian northern coast with 4,000 tones of fuel aboard. Vale said in a statement it requested Petrobras appropriate ships to deal with the possible leak and has arranged for the dispatch of oceanic buoys to the area. The MV Stellar Banner, owned by South Korea’s Polaris, had only started its trip to China carrying iron ore when it was stranded.

State judge accepts charges against Vale ex-CEO over dam burst

A Brazilian Minas Girais state judge has accepted charges of homicide against Vale SA former Chief Executive Fabio Schvartsman and 15 others related to the disaster at the iron ore miner’s Brumadinho tailings dam a year ago that killed 270 people. Prosecutors allege Vale, Brazil’s largest mining company, and German inspection firm TÜV SÜD systematically and intentionally hid information about safety issues at its tailings dams for years.

Vale boosts Brazil dam closure provisions by $671 mln

Brazilian iron ore miner Vale SA said will boost provisions to decharacterize upstream tailings dams by $671 million after conducting engineering studies following a disaster at its Brumadinho mining site last year. The charge, to be taken against Q4 earnings, includes a series of revisions including reclassifying two dams previously categorised as having been built by the “center-line” method to the upstream structure considered to be more unstable, the company said in a regulatory filing.