Exclusive: Vale in Brazil and state government $ 2 billion gap for disaster settlement, source says

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In this news, we discuss the Exclusive: Vale in Brazil and state government $ 2 billion gap for disaster settlement, source says

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RIO DE JANEIRO (Reuters) – Brazilian miner Vale SA and state authorities have narrowed their gap in a possible settlement deal over the Brumadinho mining disaster to 11 billion reais ($ 2 billion) before the talks, a person familiar with the talks told Reuters on Friday. .

The state government of Minas Gerais lowered its claims to 40 billion reais in a meeting with Vale on Thursday, from 54 billion reais in damages it had previously sought, the source said, who spoke on condition of anonymity as negotiations were closed. . Vale offered 29 billion reais, the person said, with negotiations failing over the difference.

Reporting by Marta Nogueira; Written by Jake Spring; Editing by Leslie Adler

Original © Thomson Reuters

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