Vale's Licenses for Jangada Mine and Laranjeiras Dam Canceled -Reuters

Date : 02/06/2019 @ 9:09PM
Source : Dow Jones News
Stock : Cia Vale Rio Doce (VALE3)
Quote : 54.94  -0.56 (-1.01%) @ 4:24PM

Vale's Licenses for Jangada Mine and Laranjeiras Dam Canceled -Reuters

Vale (NYSE:VALE)
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--Vale SA's (VALE) licenses for Jangada iron ore mine and the Laranjeiras dam in Brazil have been canceled by the state of Minas Gerais, Reuters reported Wednesday.

--Vale said it plans to invest about 1.5 Brazilian reais ($405 million) starting in 2020 to reduce its reliance on tailings dams, Reuters reported.

--In January, a dam owned by Vale burst in Minas Gerais. The confirmed death toll was 134 as of Monday, with close to 200 people still missing and presumed dead, according to authorities.

Full story https://www.reuters.com/article/us-vale-sa-disaster/vale-to-invest-400-million-to-reduce-need-for-tailings-dams-idUSKCN1PV1NU

 

Write to Josh Beckerman at josh.beckerman@wsj.com

 

(END) Dow Jones Newswires

February 06, 2019 15:54 ET (20:54 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.


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