Brazil's Vale shares drop 5 percent after US$43.4 bln suit
Dilma Roussef
Sao Paulo - Arab Today
Shares in Brazilian iron ore mining giant Vale tumbled more than five percent Wednesday in early trading in Sao Paulo after prosecutors lodged a US$43.4 billion suit over a deadly 2015 accident.
Prosecutors in the state of Minas Gerais on Tuesday filed the suit against Vale and Anglo-Australian miner BHP Billiton for the accident at their co-owned Samarco iron ore mine in which 19 people were killed. BHP's share prices also took a big hit after news of the lawsuit, sinking seven percent in London.
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