UPDATE 1-Brazil's Vale hopes to have Samarco victims in homes by Christmas

viernes 4 de diciembre de 2015 11:28 GYT
 

LONDON Dec 4 (Reuters) - Brazilian mining company Vale SA hopes to have all people displaced after a deadly dam-burst disaster at the Samarco Mineração SA mine in permanent homes by Christmas, Chief Financial Officer Luciano Siani said on Friday.

Brazil on Monday filed a 20 billion Brazilian reais ($5.2 billion) lawsuit against Vale and Australia's BHP Billiton Ltd , which co-own Samarco, for what it called the country's worst ever environmental disaster.

The dam in Minas Gerais state burst killed at least 13 people.

Vale said at an investor event in London on Friday it plans to restore the Doce River, damaged by a giant release of muddy iron ore mine tailings from the burst dam, to a better condition than it was before the accident.

Siani also said Vale, the world's biggest iron ore miner, has room to cut investment spending further if needed to bolster free cash flow or dividends.

In a presentation on Tuesday, Vale said it planned to cut capital investments to about $6 billion, down by about a third from 2015 plans.

(Reporting by Maytaal Angel; editing by Jason Neely)