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Vale to Pay $106.5M to Workers Affected by Brazil Dam Disaster

Reuters

   Brazilian mining company Vale SA said on Monday it would pay 400
   million reais ($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 $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 $247 million
   for a "framework agreement" with labor prosecutors.

   ($1 = 3.7552 reais)

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