Vale (NYSE:VALE) has issued a clarification regarding recent press reports, notably an article published by Reuters, about a potential legal proceeding initiated by the Federal Public Prosecutor’s Office and the Public Prosecutors’ Offices of Minas Gerais and Espírito Santo.
The reports suggest that Vale, along with BHP and their joint venture Samarco Mineração, could face a compensation claim of R$ 3.6 billion for collective moral damages.
Vale has stated that it has not been formally notified by the court regarding this legal proceeding.
The company plans to present its arguments to the competent court in due course.
Vale emphasized that the repair process for damages resulting from the 2015 Fundão dam disaster is being led by the Renova Foundation, in accordance with commitments made by the companies to Brazilian authorities.
Meanwhile, the company reiterated its commitment to addressing the aftermath of the Fundão dam failure and working towards a fair resolution for all parties involved.