January 3, 2020 / 12:47 PM / 18 days ago

Brazil's Braskem to take 2.7 bln reais charge for mining project

BRASILIA, Jan 3 (Reuters) - Brazil petrochemical producer Braskem SA has agreed a 2.7 billion reais ($667 million) deal with federal and state authorities in the northeastern state of Alagoas to cover damage caused by a mining project in the area.

According to a securities filing on Friday, 1.7 billion reais is for the financial compensation and relocation of some 17,000 people in the state capital Maceio, and 1 billion reais will used to close the company’s rock salt well in the city. (Reporting by Jamie McGeever; Editing by Alex Richardson)

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