Vale's Dam Breach in Brazil Leaves Dozens Dead; Stock Plunges

Mayor Avimar de Melo of the city of Brumadinho, which was partly leveled by the spill, is seeking millions in damages and blamed Vale’s “incompetence” for the incident. Brazil’s Prosecutor General Raquel Dodge said company executives may be held responsible. “Given that this is the second dam burst linked to Vale, we would expect more stringent remediation requirements and tougher penalties,” Macquarie Capital Ltd. analysts including Grant Sporre wrote on Monday.

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