18
Jul
12:31
Vale agrees additional funding for Samarco disaster restoration
Brazil’s Vale will make an additional provision of BRL 1.5 billion ($390.8 million) to the Renova Foundation to help fund the restoration programmes of the regions affected by the Samarco dam disaster in 2015.
The Brazilian miner will recognise the provision in its interim financial results ending June 2018, it says in a note seen by Kallanish. This is equivalent to 50% of Samarco's additional obligations for the next 12 years.
According to Vale, th…
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