Vale informs on the decision of the Minas Gerais State Court

7/9/2019

Vale informs on the decision of the Minas Gerais State Court

Vale informs on the decision by the Lower Public Treasury Court of Belo Horizonte (6ª Vara de Fazenda Pública e Autarquias de Belo Horizonte), on July 9th, 2019, within the scope of the lawsuits 5010709-36.2019.8.13.0024 and 5026408-67.2019.8.13.0024 proposed by the State of Minas Gerais and the lawsuits 5044954-73.2019.8.13.0024 and 5087481-40.2019.8.13.0024 proposed by the State Public Prosecutors of Minas Gerais, which declared Vale responsible for reparation of damages caused by the breach of the tailing dam in Córrego do Feijão, in extension and form to be subsequently defined.

The decision acknowledged Vale's cooperation, including financial ones, with all initiatives requested by authorities during conciliation hearings held with the bodies of the Judicial system, such as Public Defense Office of the State of Minas Gerais and of the Union and the Public Prosecutors Office.

The court maintained R$ 11 billion blocked. However, it authorized the replacement of R$ 5 billion for other financial guarantees, such as bank guarantees, insurance guarantees and/or investments at the disposal of the court, in addition the previously approved replacement of R$ 500 million. Furthermore, the request for suspension of activities and the judicial intervention of Vale were denied, as there are sufficient guarantees to compensate for the damages.

Vale reaffirms its total commitment to the prompt and fair reparation of damages caused to the families, to the infrastructure of communities and to the environment.


Vale informs on the decision of the Minas Gerais State Court