Vale’s new CEO says committed to reparations for dam burst victims

FILE PHOTO: A view of a collapsed tailings dam owned by Brazilian mining company Vale SA, in Brumadinho
FILE PHOTO: A view of a collapsed tailings dam owned by Brazilian mining company Vale SA, in Brumadinho, Brazil February 13, 2019. REUTERS/Washington Alves

May 10, 2019

SANTIAGO/RIO DE JANEIRO (Reuters) – Brazilian miner Vale SA’s newly appointed Chief Executive Eduardo Bartolomeo said during his first conference call with analysts that the miner is fully committed to paying reparations to those affected by a deadly dam burst in January.

Bartolomeo also said key priorities going forward would include strong discipline in capital allocation and continuing to transform the company’s base metals unit so that it becomes a stronger generator of cash.

(Reporting By Christian Plumb and Marta Nogueira; Editing by Chizu Nomiyama)

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