March 27, 2019 / 11:02 PM / 3 months ago

Brazil's Vale says dam disaster writedowns to affect earnings

SAO PAULO, March 27 (Reuters) - Brazilian iron ore miner Vale SA said on Wednesday it would be making a series of writedowns and provisions related to a dam burst that killed an estimated 300 people two months ago, some of which would affect its first-quarter earnings.

Those included a $124 million writedown related to the Brumadinho disaster itself, the company said, adding that it was still evaluating other possible liabilities stemming from the collapse, which has forced it to take about a fifth of its production offline.

Reporting by Tatiana Bautzer and Roberto Samora; Editing by Richard Chang

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