Vale hopes to wrap up global dam-burst settlement by year-end

Brazil’s Vale hopes to wrap up a global compensation settlement for victims of its deadly January dam burst by year-end, its chief financial officer said on Thursday, a day after the company announced $2-billion in related charges.

That came in addition to nearly $5-billion in first-quarter charges the iron ore miner has previously disclosed. It remains unclear whether the writedowns taken so far would cover such a victims’ settlement.