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So Paulo, 17 – Vale reported on Tuesday 17, that she was updating the Renova Foundation program-related provision related to the compensation and compensation of the impacts of the break-up of the Dam of Samarco. The Company reports that it recognizes an additional provision of R $ 1.5 billion in its interim financial statements as at June 30, 2018.
In a material fact filed by the Brazilian Securities Commission (CVM), the company explains that the total current value provisions of the estimates of their secondary responsibility to support the work of the Renova Foundation, and equivalent to 50% of Samarco's additional obligations for the next 12 years.
"The initial provision of R $ 3.7 billion made in the second The first quarter of 2016 was based on the best preliminary estimates of the total cost of the 42 programs to be implemented by Fundao Renova, according to the first agreement with the government authorities, dated March 2, 2016. "According to Vale, the Renova Foundation was established later on June 30, 2016 and, after substantial progress in the development and implementation of programs, the estimates have been revised and the expenditures of these programs updated.
(Beth Moreira)
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