Brazilian mining company Vale will not financially support Samarco, a joint venture with BHP Billiton, if the company is not able to resume operations, Vale’s head of investor relations said on Thursday.
Rogerio Nogueira told analysts at an event in Sao Paulo that he did not believe Samarco would need financial support, but that in the event its mine was unable to get permission to restart, Vale would not fund Samarco. The joint venture’s iron-ore mine closed in November after a deadly dam spill.
