The settlement with the Brazilian state of Minas Gerais, which was announced on Thursday, is the largest in the country’s history, according to local media. The Court of Justice of Minas Gerais mediated the agreement, which will provide funds for affected communities, emergency aid and resources for urban mobility.
“Vale is committed to fully repair and compensate the damage caused by the tragedy in Brumadinho and to increasingly contribute to the improvement and development of the communities in which we operate,” CEO Eduardo Bartolomeo said in a statement.
The disasters, which left thousands of families in mourning, have renewed scrutiny of the company’s practices and of environmental regulations in Minas Gerais.
Vale has said that since the latest breach two years ago, the company has tried to work with “the impacted families, providing assistance to restore their dignity, well-being and livelihoods.”
“In addition to meeting the most immediate needs of the affected people and regions, it is also working to deliver projects that promote lasting change to recover communities and benefit the population effectively,” the company said in its statement.
— Marcia Reverdosa, Sheena McKenzie and Michelle Toh contributed to this report.