brazils vale shares drop 5 percent after us434 bln suit
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
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Brazil's Vale shares drop 5 percent after US$43.4 bln suit

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Arab Today, arab today Brazil's Vale shares drop 5 percent after US$43.4 bln suit

Dilma Roussef
Sao Paulo - Arab Today

Shares in Brazilian iron ore mining giant Vale tumbled more than five percent Wednesday in early trading in Sao Paulo after prosecutors lodged a US$43.4 billion suit over a deadly 2015 accident.

Prosecutors in the state of Minas Gerais on Tuesday filed the suit against Vale and Anglo-Australian miner BHP Billiton for the accident at their co-owned Samarco iron ore mine in which 19 people were killed. BHP's share prices also took a big hit after news of the lawsuit, sinking seven percent in London.

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