Brazilian iron ore miner Vale SA Chief Executive Fabio Schvartsman and several o...
RIO DE JANEIRO - Brazilian iron ore miner Vale SA Chief Executive Fabio Schvartsman and several other senior executives resigned on Saturday in what the company described as a temporary move, after one of its mining dams burst in January, killing hundreds.
The move comes slightly over a month after a tailings dam broke at Vale’s Corrego do Feijao mine in the interior Brazilian state of Minas Gerais, likely killing over 300 people and releasing massive amounts of toxic sludge.The resignations came after documents emerged in recent weeks showing that Vale knew it had an elevated risk of rupture and that inspectors felt they were under pressure to certify the structure as safe.
Also resigning were Vale’s head of ferrous minerals and coal, Peter Poppinga, planning director Lucio Flavio Gallon Cavalli and Silmar Magalhaes Silva, the head of a geographic division at Vale. “I am absolutely convinced that the way I have acted personally, as well as the rest of our executive board ... has been absolutely appropriate, correct, and, mainly, loyal to our non-negotiable values of upholding operational security as a company,” the letter read, according to Folha.Bartolomeo, the incoming chief executive, was previously the executive director of marketing and of fertilizer and coal operations, according to Vale’s website.
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