January 26, 2019 / 7:38 PM / a month ago

Brazil judge freezes $1.3 billion in Vale assets for dam burst damages

Rescue workers are seen after a dam, owned by Brazilian miner Vale SA, burst in Brumadinho, Brazil January 26, 2019. REUTERS/Washington Alves

BRASILIA (Reuters) - A Brazilian judge in the state of Minas Gerais on Saturday froze 5 billion reais ($1.33 billion) in the accounts of miner Vale SA (VALE3.SA) to pay for damages caused by a dam burst on Friday that has left hundreds missing, state prosecutors said.

The decision follows an earlier freeze of 1 billion reais that state courts placed on Vale’s accounts.

Reporting by Jake Spring; Editing by Sandra Maler

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