LatinNews Daily - 22 January 2020

* Brazilian prosecutors have brought charges for homicide and environmental crimes against Brazilian mining giant Vale SA and German auditor Tüv Süd, as well as a total of 16 executives and employees from both companies, over the collapse in January last year of a Vale-owned tailings dam in Brumadinho, Minas Gerais state, which killed at least 270 people. An investigation by the Minais Gerais public prosecutor’s office (MPMG) and the state's civil police (PCMG) concluded that Vale and Tüv Süd colluded to conceal from shareholders, investors and the general public the “unacceptable safety situation” of several dams owned by Vale. Former Vale CEO Fabio Schvartsman is amongst those accused. Vale shares were down around 2.5% on the São Paulo stock exchange (Bovespa) after the prosecutors’ announcement yesterday (21 January) afternoon, amidst a general dip in the Bovespa index (Ibovespa), which closed the day down 1.54%.

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