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The risk badessment agency placed a negative observation on the mining bills after the collapse of the dam at Brumadinho (MG)
(19659005) Reuters
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January 28, 2019 at 20h36 – Published January 28, 2019 at 20h15
Vale: The demotion takes into account the costs of compensation imposed on society [Paulo Whitaker / Reuters]
] The agency Fitch downgraded the ratings of Vale to "BBB-" of "BBB +" and put the miner's note on a negative note after the fall of the dam "These downgrades reflect Fitch's expectations that this accident will result in significant repair costs for the company. "
"These downgrades reflect Fitch's expectations that the company will incur high repair costs as a result of this accident …", the agency said.
The disaster also resulted in significant fines, with the collapse of the dam occurring about three years after the Mariana (MG) accident, along with another tailings impoundment structure.
An American law firm, the Rosen law firm, opened on Monday, June 1st. a joint lawsuit against Vale, the company's general manager, Fabio Schvartsman, and the chief financial officer, Luciano Siani
In addition to the problems related to lawsuits and damages, the note was reduced by Fitch in response to a waiting reduction of Vale's short-term production and additional investment in restoration costs and other potential expenses to ensure the safety of the company's various other dams or to proceed with dry processing.
The workers of the company exert pressure to put an end to the situation. a dam system that collapsed in Brumadinho and Mariana, according to Reuters.
In a scenario in which Vale loses all production from the Paraopeba complex, and there is mine, Ebitda would fall from about $ 15 billion in 2019 to $ 13.6 billion.
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