Vale’s Safety Measures Have Not Worked, CEO Says As Woes Grow

www.oann.com | 2/13/2019 | Staff
Firefang (Posted by) Level 4
BRASILIA/RIO DE JANEIRO/SAO PAULO (Reuters) – Brazilian miner Vale’s safety procedures have not worked, the company’s chief executive said on Wednesday, responding to questions from lawmakers after one of the company’s dams collapsed last month with the loss of hundreds of lives.

The company, which is still dealing with the consequences of the 2015 collapse of a nearby dam it co-owned, is facing several investigations over the Jan. 25 disaster in the town of Brumadinho in Minas Gerais state.

Vale - Humbly - Dam - CEO - Fabio

“Vale humbly acknowledges that, whatever we have been doing, it has not worked, as a dam has collapsed,” CEO Fabio Schvartsman told lawmakers in Brazil’s lower house, who are investigating the tragedy.

The break of Vale’s dam polluted the Paraopeba river and killed at least 166 people, with nearly 200 still missing, according to the latest information from rescue workers.

Company - Share - Price - Woes

The company’s share price has been hammered and its woes are mounting.

Vale prioritized profit over the safety of its workers at the dam, Deputy Prosecutor-General João Pedro de Saboia Bandeira de Mello Filho said in an opinion, sent to the supreme court, and...
(Excerpt) Read more at: www.oann.com
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