The death toll from a dam accident in Brazil has hit 110 people, authorities said on Thursday, Financial Times reports.
As rescue efforts continue in Brumadinho, hopes are fading for the more than 230 people still unaccounted for after a tailings dam belonging to Vale, the world’s largest iron ore producer, burst on January 26. The incident has become one of Latin America’s worst ever mining disasters.
Most of the victims are personnel linked to the company, which is now facing fines, class action lawsuits, and credit rating downgrades. Over the weekend, Brazilian courts blocked almost $3bn of Vale’s assets to pay for the damage caused by the spill, and on Thursday a labour judge froze an additional $439m as compe...
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