Iron ore price, page-10670

This was released within the last half hour on a Brazilian website. Couldn’t find it on Bloomberg/Reuters as yet

Major major development of this is the case


https://gauchazh.clicrbs.com.br/eco...etoria-da-vale-cjsqpqhrk01y201mei5w2ntcs.html

Attorney General and PF recommend dismissal of Vale's board of directors

02/03/2019 - 10:52 a.m.

Authorities working on Brumadinho's tragedy advised Vale's "immediate removal" from mining chief executive Fabio Scharvtsman, and four other directors, from "exercising any functions and activities in the companies belonging to the Vale SA group, prohibiting their access to any of their assets or facilities. "


The document, signed by members of the Federal Public Ministry, the Minas Gerais State Public Ministry, and the Federal Police, further requests that the company's management advise employees not to share matters strictly professional "with the people listed in the document.

The recommendation is valid for Fabio Schvartsman, president of Vale; Gerd Peter Poppinga, Executive Director of Ferrous and Coal; Lucio Flavio Gallon Cavalli, director of planning; Silmar Magalhães Silva, operations director of the Southeast corridor; along with three other managers and two technicians.

The text also calls for the removal of five technicians and managers from activities related to "risk management and / or monitoring of dam safety".

As of the date of delivery of this recommendation, its addressees are considered personally aware of the situation herein exposed and, in these terms, they can be held responsible for any events that are imputable.
The document was delivered in hand to the lawyers of Vale's board of directors late in the afternoon of this Friday (1st). The MPF, the MPME and the PF give 10 business days for Vale to inform whether or not to comply with the requests. If you do not accept the recommendations, the prosecutors may request the imprisonment of those involved.

he recommendation comes one week after managers and technicians who were arrested testify in testimony that Vale's directors knew there were problems with the Córrego do Feijão dam, which broke in January. The information that a manager's testimony brought the investigation to Vale's executive board was revealed by Folha de S.Paulo newspaper on Tuesday (26).