A deadly dam collapse at one of Vale’s (NYSE: VALE) iron ore mines in Brazil, which left at least 270 dead, was the result of mainly drainage problems, which caused “persistently high water levels” that weakened the facility’s walls, a report by a panel of experts appointed by the company’s legal advisers says.
The document, released by Vale on Thursday, said there was no warning that the dam was unstable, and that no seismic activity or explosions in the area were recorded on the day the dam burst in late January.
Simultaneously, German prosecutors have opened an investigation into Tüv Süd, which certified the failed dam as safe days prior to its collapse. The preliminary probe could be the first step in criminal charges against the safety inspections provider.
More to come…