Brazilian Mining Company Will Be Investigated for Corruption

Credit: Newsy Studio
Published on March 2, 2019 - Duration: 00:56s

Brazilian Mining Company Will Be Investigated for Corruption

A dam at a Vale S.A.

Iron mine collapsed in January, leaving at least 182 dead and over 100 missing.

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Brazilian Mining Company Will Be Investigated for Corruption

A spokeswoman for Brazil's Mines and Energy Ministry revealed on Friday that authorities will be investigating mining company Vale SA for potential corruption over allegations it misled officials about the safety of a dam that collapsed in January.

The collapse, which occurred at a Vale iron mine in Brumadinho, left at least 182 dead and over 100 people missing.

According to Bloomberg , the Mines and Energy Ministry's mining secretary said he requested an investigation into the possibility that Vale had misrepresented the safety of the dam through colluding with auditors.

Vale could potentially face a fine of nearly 20 percent of its 2018 gross revenue if it's found to have violated a Brazilian anti-corruption law that went into effect in 2013.

The Brazilian government has so far been unable to find the cause of the dams collapse.

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