ArcelorMittal Evacuates Residents Around Brazil Serra Azul Mine
08 Febbraio 2019 - 12:54PM
Dow Jones News
By Nathan Allen
ArcelorMittal (MT.AE) said Friday that it has evacuated around
200 people from the area surrounding its Serra Azul mine in the
Brazilian state of Minas Gerais, citing concerns over the safety of
a tailings dam.
The steelmaker and iron-ore miner said it decided to start
moving the community after receiving an updated assessment on the
dam from an independent review panel.
The evacuation--which comes on the same day that Vale SA
(VALE3.BR) said it is removing 500 people from a town also in Minas
Gerais--is a precautionary measure while engineers run further
tests on the dam, which has been idle since 2012, ArcelorMittal
said.
"Experts continue to analyze the tailings pond and in the event
that measures have to be implemented to further secure the pond
that will be carried out as swiftly as possible," Chief Executive
of ArcelorMittal Brazil Benjamin Baptista said.
The Serra Azul mine is located in the town of Itatiaiucu and
produces around 1.2 million tons of concentrate and lump ore a
year.
Shares in ArcelorMittal dropped as much as 5% when the
evacuation was reported and have since recovered to trade around 3%
lower at EUR19.64.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
February 08, 2019 06:39 ET (11:39 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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