Vale announces plan to shut down risky mines. Vale shares still labeled a ‘buy’. Veteran Renan Calheiros gets stronger in bid for Senate President .
Vale announces plan to shut down risky mines
Mining giant Vale has presented the government with a plan to shut down residue dams similar to the ones used in Mariana and Brumadinho. These dams are of the cheapest, most unsafe kind, growing through walls built over the residue itself (picture below). The plan will cost BRL 5bn and would mean Vale will temporarily reduce its annual output by roughly 40m...
