BHP Billiton & Vale: Brazil dam burst

On 5 November 2015 a dam in Brazilian state of Minas Gerais burst its banks resulting in 6 deaths and 631 injured. 21 people are still missing. The cause of the overflow of water, mud and mineral waste from the mine is still being investigated. The mine is jointly by BHP Billiton and Vale SA, and operated by the mining company Samarco..   ... →

Chevron fined $17.5 mn over Brazil oil spill

(RTTNews) – Brazil’s National Petroleum Agency -ANP, has imposed a fine of 35.1 million Brazilian real or $17.3 million on US oil giant Chevron Corp. over its role in causing an oil spill last year in the Campos Basin, off the southern coastal state of Rio de Janeiro.

According to news reports, the fine imposed on Chevron by the Brazilian oil regulator was disclosed by ANP Director Magda Chambriard on the sidelines of the Rio Oil & Gas 2012 conference on Monday.   ... →

Vale S.A. : Contestation over unpaid royalties

Tax Avoidance in Brazil

In a dispute over unpaid royalties, Vale S.A. and the Brazilian authorities finally reached an agreement. Vale, the world´s largest iron-ore producer and the second biggest nickel-producer, had to pay around 4 billion Brazilian reais (approximately 2,22 billion $). This request of the Brazilian authorities initially concerned royalties for the period from 1996 to 2002 and was related to profits of Vale´s non-Brazilian subsidiaries and affiliates.   ... →

Vale S.A.: Vale obtains environmental license for its new iron ore project in a protected forest

Environmental threat in Brazil

It is a first step for Vale concerning its new iron ore project, after the Brazilian company has obtained a preliminary environmental license. Indeed, according to a press release of Vale on 27th June, the license had been put out by the IBAMA (Instituto Brasileiro do Meio Ambiente e dos Recursos Naturais Renováveis).   ... →

Vale S.A.: Start of palm oil production in Amazon-rainforest

 Photo: Nafise Motlaq / World Bank | Bild (Ausschnitt): © World Bank Photo Collection [CC BY-NC-ND 2.0] - flickr

Environmental menace in Brazil

Around 15% of Vale´s total costs stem from its energy spendings. Moreover, according to a new Brazilian policy, diesel fuel has to contain 10% of biodiesel by 2020, up to 5% currently. These reasons have led the company to initiate a new strategy of self-sufficiency concerning its energy supply.

Recently, Vale has inaugurated its first palm oil plantation in the Amazon-rainforest.   ... →

Vale S.A.: Vale involved in controversial dam project Belo Monte

Environmental damages in Brazil

The Belo Monte dam in the Amazonian Rainforest is a very controversial project. Nevertheless, it is supported by many investors, including Vale. The company will put $ 1,4 billion into the construction in order to have a stake in the consortium building the dam.

Initially planned for 2015, Belo Monte will be the third largest hydroelectric dam in the world.   ... →