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About: http://data.cimple.eu/news-article/d9630e0e5b82064935902fd3c16e6957fa75e9b9dd0337fb885a73f3 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Brazilian mining company Vale posted a net profit of $4.8 billion last year, though its bottom line continued to take a hit from the fallout of a 2019 dam collapse that killed 270 people. Vale's net profit for the fourth quarter, published late Thursday, came in at $739 million -- down from $2.9 billion the quarter before, but up from a loss of $1.56 billion in the fourth quarter of 2019. The 2019 collapse of a Vale mining waste dam in the town of Brumadinho in southeastern Brazil unleashed a deadly flood of toxic sludge and caused the company a net loss of $1.68 billion that year. Vale is still paying the price: earlier this month, it announced it had agreed to pay $7 billion in damages to compensate victims and clean up the environment. The company said its expenses related to the disaster were $4.85 billion for the fourth quarter of 2020. But Vale, one of the world's biggest iron-ore miners, said it got a boost from the recovery of international prices, fueled largely by demand from China. "In the second half of 2020, prices strongly increased following global economy recoveries from (the) Covid-19 pandemic," it said in a statement. Vale also faces another front of controversy on the French Pacific island of New Caledonia, where pro-independence activists have launched violent protests to prevent the company from selling a nickel plant it operates to a French-backed consortium. The unrest has forced Vale to halt operations there since December 10. The firm said it was optimistic the sale would go through, but would "initiate the process to cocoon the asset into care and maintenance" if not. jm/jhb/dw
schema:headline	Brazil's Vale posts $4.8-bn profit in 2020
schema:mentions	Nickel Deutsche Welle Unleashed (band) Brumadinho Pacific Ocean French language Dam Pandemic Brazil China Coronavirus disease 2019 Sludge New Caledonia
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-02-26 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	62 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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