The settlement with the Brazilian state Minas Gerais, which was announced on Thursday, is according to local media the largest in the country’s history. The Court of Justice of Minas Gerais mediates the agreement, which will provide funds for affected communities, first aid and resources for urban mobility.
“Vale is committed to fully repairing and compensating for the damage caused by the Brumadinho tragedy and to increasingly contributing to the improvement and development of the communities in which we operate,” said CEO Eduardo Bartolomeo in said a statement.
The disasters, which left thousands of families in mourning, renewed the company’s practices and environmental regulations in Minas Gerais.
Vale said the company had been trying since the latest offense two years ago to work with “the families affected to restore their dignity, well-being and livelihood.”
“Apart from providing for the most immediate needs of the people and regions concerned, it is also delivering projects that promote lasting change to restore communities and benefit the population effectively,” the company said in a statement.
– Marcia Reverdosa, Sheena McKenzie and Michelle Toh contributed to this report.