The purchase, announced in December 2018, values the agreement at around US$550 million. Ferrous operates iron ore mines in areas close to Vale’s operations in the state of Minas Gerais.
The law of the Brazilian Competition System holds that cases that have not been judged by the CADE within the established period are approved automatically. For this reason, Judge Diana Wanderlei determined that the Public Authority cannot ignore the case, particularly in light of the devastating accidents and social damages caused by the rupture of dams in Vale operations in the towns of Brumadinho and Mariana, both in Minas Gerais
“The recent events involving the breaking of dams belonging to the mining company that requires the concentration, or its modus operandi, demand a rigid attention from the authorities …” explained the magistrate.
Full Content: Juristas
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