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LatinNews Regional Monitor: Brazil & Southern Cone - 22 February 2019

In brief: Brazil

* Brazilian mining giant Vale has reached a preliminary agreement with the local authorities to anticipate emergency payments to the people affected by the dam failure at the Corrego de Feijão mine in Brumadinho, Minas Gerais state, on 25 January. As per the agreement, Vale will pay compensation equivalent to an annual minimum wage (just under R$12,000 or US$3,184) to each resident of the municipality of Brumadinho and people who reside in a one-kilometre radius of the Paraopeba riverbed from Brumadinho to the town of Pompéu. In the case of adolescents and children, compensation will amount to 50% and 25% of a minimum wage, respectively. The agreement “reinforces Vale’s commitment to repair the damages caused by the Dam I breach and ensure that this repair occurs quickly and comprehensively”, the company said in a statement on its website. The dam failure claimed at least 176 lives, with 134 people still missing.