Brazil's Vale raises emergency watch level for its Gongo Soco mine dam after heavy rain [Reuters (UK)]
VALE S.A. American Depositary Shares Each Representing one common share (VALE)
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Source: Reuters
Brazil's Vale raises emergency watch level for its Gongo Soco mine dam after heavy rain - Reuters 2 Min Read BRASILIA (Reuters) - Brazilian miner Vale SA has raised the emergency level at the Sul Inferior dam at its Gongo Soco mine in Bar?o de Cocais, in the southern state of Minas Gerais, after heavy rainfall eroded the structure’s reservoir. “As a result of unusually heavy rain, Vale reinforced the number of field teams on standby for any eventual emergencies,” Vale said in a securities filing late on Saturday, adding that the dam was raised to ‘Level 2’ watch from ‘Level 1’. The dam is safe and secure, Vale said, but had been on Level 1 watch due to its proximity to the Sul Superior dam, which remains at Level 3, the most critical level that indicates a dam burst is “imminent or underway”. The heavy rains and storms that have swept through Minas Gerais and other states in the south east of Brazil have killed at least 30 people, according to authorities. Local media put the death to
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- Vale S.A. (NYSE: VALE) was downgraded by analysts at Morgan Stanley from an "overweight" rating to an "equal weight" rating. They now have a $11.30 price target on the stock, down previously from $14.50.MarketBeat
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VALE
Earnings
- 7/26/24 - Beat
VALE
Sec Filings
- 12/20/24 - Form 6-K
- 12/17/24 - Form 6-K
- 12/11/24 - Form 6-K
- VALE's page on the SEC website