Second Vale dam burst in Brazil likely to curb mining risk appetite

Mining company Vale’s second dam disaster in Brazil in less than four years deals a blow to an industry grappling with investor wariness and a poor image and casts doubt on new President Jair Bolsonaro’s vow to reduce government regulation.

Brazilian rescue workers on Saturday were searching for roughly 300 people missing after a tailings dam burst at a Vale iron-ore mine in the town of Brumadinho in Minas Gerais state. Ten bodies have been recovered.