Vale to pay US$106.5 mil to workers affected by Brazil dam disaster

In May, Vale said it was taking US$2.42 billion in writedowns for payments to victims’ families and estimated out-of-court settlements for various damages related to the dam collapse. (AFP pic)

RIO DE JANEIRO: Brazilian mining company Vale SA said on Monday it would pay 400 million reais (US$106.52 million) to compensate workers affected by the deadly rupture of a tailings dam in January that killed at least 240 people.

In a statement, Vale said the deal also involves individual compensation for moral and material damages, including job stability and other benefits for a certain period of time.

In May, the company said it was taking US$2.42 billion in writedowns for payments to victims’ families and estimated out-of-court settlements for various damages related to the dam collapse, including US$247 million for a “framework agreement” with labour prosecutors.