Dam disaster to cost miner nearly $5 billion
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Brazil-based Vale S.A. said that the Brumadinho tailings dam burst is likely to cost the iron ore miner nearly $5 billion including compensation and safety measures-related losses, Reuters reported. The miner said that payments to victims' families and out-of-court settlements are expected to total about $2.4 billion while safety measures such as shutting down dams to prevent similar catastrophes are likely to cost Vale nearly $2 billion.
