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Commodities

Brazil's Vale ordered to set aside $1.48 billion for Brumadinho dam damages

The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. REUTERS/Washington Alves

SAO PAULO (Reuters) - A judge in Brazil’s Minas Gerais state partially granted an injunction sought by prosecutors ordering iron ore miner Vale SA to deposit 7.9 billion reais ($1.48 billion) for payment of potential fines related to a dam disaster last year.

Vale faces multiple legal battles after a tailings dam it owned and operated in the town of Brumadinho burst, killing more than 270 people.

Reporting by Ana Mano; Editing by Christian Plumb

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