Brazil's Vale, Minas Gerais state move closer to settlement for 2019 disaster

RIO DE JANEIRO, Feb 3 (Reuters) - Authorities in the Brazilian state of Minas Gerais have defined the potential terms of a settlement with miner Vale SA, they said on Wednesday, a move that could bring the iron ore giant closer to drawing a line under a major 2019 disaster.

In a statement, Minas Gerais officials, alongside state and federal prosecutors, said a meeting had been set for Thursday, during which Vale and the state would discuss the terms of the potential accord whose value was not disclosed.

The deal would require investments by Vale in the area affected by the 2019 Brumadinho disaster, when a tailings dam burst, killing 270 people and burying a river valley in meters of sludge.

In a separate statement, Vale said “a meeting was scheduled Thursday for final agreements and the possible signing of a reparations accord, with investments and actions in the affected regions and population.”

Reporting by Marta Nogueira and Gabriel Araujo; Writing by Gram Slattery; Editing by Richard Chang