The most deadly mine disaster in Brazil
On January 25th, a waste mine dike which located in Minas Gerais Brazil collapsed, it belongs to Vale of Brazil, the world's largest iron ore producer. The accident caused 58 deaths and 305 missing.
Being affected by this news, the stock price of Vale fell 8.1% on January 25th, and after the weekend, on the 28th when the US stocks closed, it plunged more than 18%.
After the accident, Brazilian government would improve the safety of each minie area, thus bring a long-term impact on the supplying of iron ore in Vale.
On the 28th, Vale CEO said they would shut down 10 dikes, which would affect 40 million tons of iron ore capacity, including 11 million tons of pellet.
Company website: www.mescosteel.com.cn
Email: mesco_15@aliyun.com
mescosteel@aliyun.com
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