Vale to start working on Belo Horizonte water catchment repair
Brazilian mining giant Vale is set to invest 450mn reais (US$114mn) in a string of actions to improve water catchment systems at the Paraopeba and Rio das Velhas river basins, which supply Minas Gerais state capital Belo Horizonte.
The investment is part of an agreement signed this week between Vale and Minas Gerais' water utility Copasa with the participation of state and federal public prosecutors, Vale said in a note.
Under the deal, Vale will build a new water catchment system at Paraopeba, carry out preventive actions for the Rio das Velhas water catchment, and engage in an external audit to analyze both projects and monitor water volumes stored at Copasa's reservoirs.
The Great Belo Horizonte area has two main abstraction systems for water supply under Copasa's responsibility.
Water quality from both rivers was severely impacted after the January collapse of a tailings dam (pictured), which was operated Vale, in Brumadinho municipality.
BRUMADINHO PROVISIONS
Vale's total provisions and expenses related to the Brumadinho tragedy in Minas Gerais stand at US$6bn, according to one of its top executives.
"This is a figure that Vale has the responsibility to use to the best of its ability and in the quickest way to transform the lives of the region's residents for the better," CFO Luciano Siani told a Q2 earnings call on August 1.
However, Siani also said that any changes to that provision will come from a refinement of the numbers, and that no additional scope should be expected to be included.
Meanwhile, a company spokesperson confirmed to BNamericas on Friday that the US$114mn investment for Paraopeba and Rio das Velhas is part of the total provision.
Rio de Janeiro-based Vale is the world's largest iron ore producer and exporter.
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