Vale has more assets frozen, seeks out-of-court settlement

摘要

The state labor court in Brazil's Minas Gerais state decided to freeze an additional Real 800 million ($218.31 million) worth of Vale assets following last week's fatal collapse of a tailings dam at its Corrego do Feijao iron ore mine, the court said Thursday. The ruling seeks to ensure any damages resulting from class action lawsuits can be paid, the court said. This brings the total to ensure payment to those affected to Real 1.6 billion, or about $437 million. The failure of the dam near Brumadinho in Vale's southeastern system left at least 110 people dead and 238 missing.