BRASILIA - Brazil’s authorities will investigate miner Vale SA over possible corruption in misleading officials about the safety of its dam that burst and killed hundreds, a spokeswoman for the Mines and Energy Ministry said on Friday.
If found to have violated Brazil’s 2013 anti-corruption law, Vale could face a fine of up to 20 percent of its 2018 gross revenue. In 2017, the company reported 109 billion reais in revenue and net income of 17.6 billion reais.Bloomberg first reported that the ministry’s mining secretary Alexandre Vidigal de Oliveira said in an interview that he had requested an investigation be opened into whether Vale had colluded with auditors to misrepresent the safety of the dam.
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