Vale reported its first quarterly loss since late 2015 as the company set aside funds to cover damages, legal costs and other obligations related to the dam disaster that left hundreds dead in January.
The world’s largest iron ore producer set aside $4.5-billion and posted a loss of $1.64-billion as the company comes under strict government scrutiny. Local courts froze billions of dollars of its assets to ensure the victims will be compensated and environmental remedies implemented.