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Vale SA | 6-K: Vale Clarifies About Judicial Orders in Netherlands

SEC announcement ·  Mar 20 15:49
Summary by Moomoo AI
Vale SA, a leading mining company, has announced that its wholly-owned subsidiary, Vale Holdings B.V., has been subjected to prejudgment attachment levies in the Netherlands. The attachments, which target shares and financial rights held by Vale and amount to approximately 920 million euros, are a precautionary measure in anticipation of future liability proceedings. These proceedings are related to claims by individuals and entities affected by the 2015 Fundão dam rupture, operated by Samarco Mineração S.A. Vale has stated that the attachments do not imply the merits of the future lawsuit's claims and intends to defend itself, questioning the jurisdiction of the Dutch Courts over the matter. The company also highlighted its ongoing commitment to the repair of damages caused by the dam failure, with over R$ 36.5 billion directed to remediation and compensation actions to date. Vale continues to financially support the Renova Foundation, which is responsible for the repair work, in line with the TTAC and TAC Governança agreements.
Vale SA, a leading mining company, has announced that its wholly-owned subsidiary, Vale Holdings B.V., has been subjected to prejudgment attachment levies in the Netherlands. The attachments, which target shares and financial rights held by Vale and amount to approximately 920 million euros, are a precautionary measure in anticipation of future liability proceedings. These proceedings are related to claims by individuals and entities affected by the 2015 Fundão dam rupture, operated by Samarco Mineração S.A. Vale has stated that the attachments do not imply the merits of the future lawsuit's claims and intends to defend itself, questioning the jurisdiction of the Dutch Courts over the matter. The company also highlighted its ongoing commitment to the repair of damages caused by the dam failure, with over R$ 36.5 billion directed to remediation and compensation actions to date. Vale continues to financially support the Renova Foundation, which is responsible for the repair work, in line with the TTAC and TAC Governança agreements.
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