Brazilian iron ore miner Vale announced that more than 13,500 people have so far signed an indemnity agreement to compensate for the damage caused by the failure of the B1 Tailings Dam in Brumadinho and evacuations in other areas. For people living close to Vale’s dams, safety has been reinforced. For example, in 2022 alone, the company dismantled five more upstream dams, taking the total number to 12 since 2019. As a result, Vale’s Upstream Dam Dismantling Program is now 40% executed. In addition, economic development projects have been supporting the diversification of the economy and expanding tourism in the region. To carry out these initiatives, the company disbursed a total of BRL 37.2 billion between January 2019 and December 2022, including individual indemnity payments, compliance with the Comprehensive Remediation Judicial Agreement and other reparation measures. Vale said “The progress of these initiatives and transfers as part of the Remediation Agreement are on schedule and as foreseen by the signatories. In addition to Vale, the state Government of Minas Gerais and several Legal Institutions signed the document in February 2021. Around 300 projects are in the development phase and another 24, aimed at impacted municipalities, are in progress. Of these, nine are in Brumadinho and 15 are in 25 other municipalities in the Paraopeba River Basin. This work includes the structuring of Emergency Rooms to reinforce local health systems and the delivery of machinery for rural road maintenance. The total value of the Agreement is R$37.7 billion, of which approximately R$23.6 billion has been disbursed by the company so far, in amounts adjusted for inflation, equivalent to 58% budget execution.”
Brazilian iron ore miner Vale announced that more than 13,500 people have so far signed an indemnity agreement to compensate for the damage caused by the failure of the B1 Tailings Dam in Brumadinho and evacuations in other areas. For people living close to Vale’s dams, safety has been reinforced. For example, in 2022 alone, the company dismantled five more upstream dams, taking the total number to 12 since 2019. As a result, Vale’s Upstream Dam Dismantling Program is now 40% executed. In addition, economic development projects have been supporting the diversification of the economy and expanding tourism in the region. To carry out these initiatives, the company disbursed a total of BRL 37.2 billion between January 2019 and December 2022, including individual indemnity payments, compliance with the Comprehensive Remediation Judicial Agreement and other reparation measures. Vale said “The progress of these initiatives and transfers as part of the Remediation Agreement are on schedule and as foreseen by the signatories. In addition to Vale, the state Government of Minas Gerais and several Legal Institutions signed the document in February 2021. Around 300 projects are in the development phase and another 24, aimed at impacted municipalities, are in progress. Of these, nine are in Brumadinho and 15 are in 25 other municipalities in the Paraopeba River Basin. This work includes the structuring of Emergency Rooms to reinforce local health systems and the delivery of machinery for rural road maintenance. The total value of the Agreement is R$37.7 billion, of which approximately R$23.6 billion has been disbursed by the company so far, in amounts adjusted for inflation, equivalent to 58% budget execution.”
