January 28, 2019 / 9:26 PM / 10 months ago

Vale to maintain royalties payment to Brumadinho after disaster: CFO

FILE PHOTO: Luciano Siani, Chief Financial Officer of Brazilian miner Vale, speaks during an interview with Reuters in Rio de Janeiro, Brazil November 1, 2018. Picture taken November 1. REUTERS/Pilar Olivares

SAO PAULO (Reuters) - Brazilian miner Vale SA (VALE3.SA) will maintain royalty payments to the municipality of Brumadinho despite stalled operations at the site after the disaster that killed dozens last week, chief financial officer Luciano Siani said on Monday.

Siani told reporters in Rio that the royalties over iron ore production accounted for around 60 percent of Brumadinho’s revenues. The company also said it will donate 100,000 reais ($26,585.85) to each family that lost a relative in the disaster when a tailings dam burst.

Reporting by Marcelo Teixeira; Editing by Dan Grebler

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