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Brumadinho Dam Collapse Cost Vale US$4.9 Billion in Q1

By Richard Mann, Contributing Reporter

RIO DE JANEIRO, BRAZIL - As reported two days ago, Rio based mining giant Vale is in bad shape. Production dropped in Q1 in all segments due to the deadly Brumadinho dam collapse, unusual weather, as well as production shutdowns in Japan and China.

The Brumadinho tragedy cost Vale R$19 (US4.9) billion in the first quarter as they provisioned R$9.3 (US$2.3) billion for compensation . . .

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