Iron ore price, page-52117

Further to my post a couple of days ago, Brazil govt now really ramping up their demands against vale and bhp. This was just released a couple of hours ago. (Translated from Portuguese)


AGU calls for a ban on the distribution of profits from Samarco, Vale (VALE3) and BHP due to the Mariana (MG) disaster
In the request, the Union also requests that if the sentence is not complied with, restrictions such as the seizure of shares listed on disallowed be adopted
By Valor Investe — Rio

05/07/2024 1:55 pm Updated 20 minutes ago

The Federal Attorney General's Office (AGU) presented this Tuesday, in the Federal Court of Belo Horizonte (MG), a request for provisional compliance with the sentence to compel the mining companies Samarco, Vale and BHP, responsible for the collapse of the Fundão dam, in Mariana (MG), to pay the amount of R$79.6 billion within 15 days.
In the request, the Union also requests that if the amount is not deposited in court within the deadline, the Court orders the blocking of the companies' financial assets and, if the measure is insufficient to obtain the amount charged, the following restrictions, in successive order: pledge of shares listed on disallowed; blocking of real estate; blocking the distribution of profits and dividends to shareholders; garnishment of 5% of revenue.
According to the Union, the measures are necessary because, almost nine years after the episode that killed 19 people and devastated the Doce River basin, which is considered the biggest environmental disaster in history in the mining sector, companies have still not been properly held responsible and continue to treat the repair of the tragedy as just another compensation case.