Brazilian iron ore miner Vale SA Chief Executive Fabio Schvartsman and several other senior executives resigned on Saturday in what the company described as a temporary move, after one of its mining dams burst in January, killing hundreds.

Vale said Schvartsman offered his resignation, which the board "immediately accepted" after state and federal prosecutors recommended their removal late on Friday.

The move comes slightly over a month after a tailings dam broke at Vale's Corrego do Feijao mine in the interior Brazilian state of Minas Gerais, likely killing over 300 people and releasing massive amounts of toxic sludge.

It was the second deadly burst at a Vale-linked tailings dam in Minas Gerais in four years.

The resignations came after documents emerged in recent weeks showing that Vale knew it had an elevated risk of rupture and that inspectors felt they were under pressure to certify the structure as safe.

Earlier this week, newspaper Folha de S Paulo reported that a Vale manager had told executives the integrity of the structure had worsened, though the company vigorously denied the report.

The company said it had appointed Eduardo Bartolomeo, executive director of base metals, as the new head of the firm.

Also resigning were Vale's head of ferrous minerals and coal, Peter Poppinga, planning director Lucio Flavio Gallon Cavalli and Silmar Magalhaes Silva, the head of a geographic division at Vale.

Vale said its board met on Friday night and Saturday morning following the prosecutors' recommendation.

In a letter sent to the board by Schvartsman and published by newspaper Folha de S.Paulo, in which he asked to be removed from the position of CEO on a "temporary" basis, the executive vigorously defended his conduct.

"I am absolutely convinced that the way I have acted personally, as well as the rest of our executive board ... has been absolutely appropriate, correct, and, mainly, loyal to our non-negotiable values of upholding operational security as a company," the letter read, according to Folha.

Vale did not immediately respond to a request for comment.

Bartolomeo, the incoming chief executive, was previously the executive director of marketing and of fertilizer and coal operations, according to Vale's website. He has also served on Vale's board of directors as well as its compliance and risk committee and finance committee.

According to his LinkedIn profile, he worked as executive director at Vale for 8 years until 2012, after which he worked as CEO of Brazil Hospitality Group then as CEO of Nova Transportadora do Sudeste, a gas pipeline company. He rejoined Vale in January of 2018.

He holds MBAs from the Massachusetts Institute of Technology and Katholieke Universiteit in Belgium, the website says.

The executives' departure was made public on Saturday evening during Brazil's Carnival holiday weekend. The country's main stock exchange will be closed on Monday and Tuesday although Vale's ADRs will reopen in New York on Monday.

Brazilian iron ore miner Vale SA Chief Executive Fabio Schvartsman and several other senior executives resigned on Saturday in what the company described as a temporary move, after one of its mining dams burst in January, killing hundreds.

Brazilian iron ore miner Vale SA Chief Executive Fabio Schvartsman and several other senior executives resigned on Saturday in what the company described as a temporary move, after one of its mining dams burst in January, killing hundreds. Vale said Schvartsman offered his resignation, which the board "immediately accepted" after state and federal prosecutors recommended their removal late on Friday. The move comes slightly over a month after a tailings dam broke at Vale's Corrego do Feijao mine in the interior Brazilian state of Minas Gerais, likely killing over 300 people and releasing massive amounts of toxic sludge. It was the second deadly burst at a Vale-linked tailings dam in Minas Gerais in four years. The resignations came after documents emerged in recent weeks showing that Vale knew it had an elevated risk of rupture and that inspectors felt they were under pressure to certify the structure as safe. Earlier this week, newspaper Folha de S Paulo reported that a Vale manager had told executives the integrity of the structure had worsened, though the company vigorously denied the report. The company said it had appointed Eduardo Bartolomeo, executive director of base metals, as the new head of the firm. Also resigning were Vale's head of ferrous minerals and coal, Peter Poppinga, planning director Lucio Flavio Gallon Cavalli and Silmar Magalhaes Silva, the head of a geographic division at Vale. Vale said its board met on Friday night and Saturday morning following the prosecutors' recommendation. In a letter sent to the board by Schvartsman and published by newspaper Folha de S.Paulo, in which he asked to be removed from the position of CEO on a "temporary" basis, the executive vigorously defended his conduct. "I am absolutely convinced that the way I have acted personally, as well as the rest of our executive board ... has been absolutely appropriate, correct, and, mainly, loyal to our non-negotiable values of upholding operational security as a company," the letter read, according to Folha. Vale did not immediately respond to a request for comment. Bartolomeo, the incoming chief executive, was previously the executive director of marketing and of fertilizer and coal operations, according to Vale's website. He has also served on Vale's board of directors as well as its compliance and risk committee and finance committee. According to his LinkedIn profile, he worked as executive director at Vale for 8 years until 2012, after which he worked as CEO of Brazil Hospitality Group then as CEO of Nova Transportadora do Sudeste, a gas pipeline company. He rejoined Vale in January of 2018. He holds MBAs from the Massachusetts Institute of Technology and Katholieke Universiteit in Belgium, the website says. The executives' departure was made public on Saturday evening during Brazil's Carnival holiday weekend. The country's main stock exchange will be closed on Monday and Tuesday although Vale's ADRs will reopen in New York on Monday.

Vale's CEO, other executives, to step down after Brazil dam burst

The collapse of a Brazilian dam controlled by miner Vale a week ago likely happened because parts of the sand and dried-mud structure dissolved into the liquid, a state regulator said in an interview, similar to what caused another deadly mining disaster less than four years ago.

With 115 people confirmed dead and another 248 missing, according to information from the rescue team on Friday evening, the tailings dam collapse in the town of Brumadinho could be Brazil's deadliest mine disaster.

The burst tailings dam at the Corrego do Feijao mine last Friday has ignited intense public anger against Vale, which was co-owner of Samarco, the previous dam that collapsed.

Around 2,000 people gathered in Belo Horizonte, capital of the mining-intensive state of Minas Gerais which was home to both disasters, to protest against Vale, with some saying its top executives should be jailed.

"I lost three of my students," said Aparecida Moreira, a teacher at a local law school. "They are dead, and we don't know where their bodies are."

There were also demands for a congressional investigation.

An internal study showed the miner knew as recently as last year that some of the areas swamped with toxic mud were at risk if the dam burst, according to a report by Folha de S.Paulo newspaper. Vale described the document as a routine disaster preparation plan required by regulators.

The disaster poses a headache for the new government of far-right President Jair Bolsonaro, whose new business-friendly administration must juggle public anger over the tragedy and its own desire to ease mining and environmental regulations to kick-start growth.

Hildebrando Neto, Minas Gerais' deputy minister for environmental regulations, told Reuters late on Thursday that all evidence suggests that the burst was caused by liquefaction, whereby a solid material such as sand loses strength and stiffness and behaves more like a liquid.

Dams holding mining waste, known as tailings, sometimes collapse for this reason.

Major Brazilian TV outlets obtained dramatic security camera video showing the outer wall of the dam collapsing and an avalanche of mud crushing trees, houses and cars in its path. Close-ups replayed throughout the day showed cars and people scrambling unsuccessfully to escape the dark red torrent.

Toxic mud

Neto said liquefaction caused the 2015 collapse of the Samarco dam, which led to the deaths of 19 people.

The internal study reported by the Folha newspaper was dated April 18, 2018, and outlined the likely impact of a collapse at the dam. It found that the mine restaurant, where many Vale workers were likely to have died, would be hit by toxic mud.

The study envisaged that sirens would alert workers if the dam burst. The company has said the mud flow destroyed the sirens before they could sound the alarm.

Vale said in a statement that the plan was "built on the basis of technical studies of hypothetical scenarios in the event of a breach" although it did not directly reference Folha's story.

Officials with the Mines and Energy Ministry and the National Mining Agency (ANM) told reporters on Friday that the cause of the rupture was still unclear.

"If we had known (what the problem was), maybe this tragedy would have never happened," the ministry’s mining secretary, Alexandre Vidigal, said. "We are in the investigation phase and we cannot say whether the (inspection) model was adequate or not."

The collapse of a Brazilian dam controlled by miner Vale a week ago likely happened because parts of the sand and dried-mud structure dissolved into the liquid, a state regulator said in an interview, similar to what caused another deadly mining disaster less than four years ago.

The collapse of a Brazilian dam controlled by miner Vale a week ago likely happened because parts of the sand and dried-mud structure dissolved into the liquid, a state regulator said in an interview, similar to what caused another deadly mining disaster less than four years ago. With 115 people confirmed dead and another 248 missing, according to information from the rescue team on Friday evening, the tailings dam collapse in the town of Brumadinho could be Brazil's deadliest mine disaster. The burst tailings dam at the Corrego do Feijao mine last Friday has ignited intense public anger against Vale, which was co-owner of Samarco, the previous dam that collapsed. Around 2,000 people gathered in Belo Horizonte, capital of the mining-intensive state of Minas Gerais which was home to both disasters, to protest against Vale, with some saying its top executives should be jailed. "I lost three of my students," said Aparecida Moreira, a teacher at a local law school. "They are dead, and we don't know where their bodies are." There were also demands for a congressional investigation. An internal study showed the miner knew as recently as last year that some of the areas swamped with toxic mud were at risk if the dam burst, according to a report by Folha de S.Paulo newspaper. Vale described the document as a routine disaster preparation plan required by regulators. The disaster poses a headache for the new government of far-right President Jair Bolsonaro, whose new business-friendly administration must juggle public anger over the tragedy and its own desire to ease mining and environmental regulations to kick-start growth. Hildebrando Neto, Minas Gerais' deputy minister for environmental regulations, told Reuters late on Thursday that all evidence suggests that the burst was caused by liquefaction, whereby a solid material such as sand loses strength and stiffness and behaves more like a liquid. Dams holding mining waste, known as tailings, sometimes collapse for this reason. Major Brazilian TV outlets obtained dramatic security camera video showing the outer wall of the dam collapsing and an avalanche of mud crushing trees, houses and cars in its path. Close-ups replayed throughout the day showed cars and people scrambling unsuccessfully to escape the dark red torrent. Toxic mud Neto said liquefaction caused the 2015 collapse of the Samarco dam, which led to the deaths of 19 people. The internal study reported by the Folha newspaper was dated April 18, 2018, and outlined the likely impact of a collapse at the dam. It found that the mine restaurant, where many Vale workers were likely to have died, would be hit by toxic mud. The study envisaged that sirens would alert workers if the dam burst. The company has said the mud flow destroyed the sirens before they could sound the alarm. Vale said in a statement that the plan was "built on the basis of technical studies of hypothetical scenarios in the event of a breach" although it did not directly reference Folha's story. Officials with the Mines and Energy Ministry and the National Mining Agency (ANM) told reporters on Friday that the cause of the rupture was still unclear. "If we had known (what the problem was), maybe this tragedy would have never happened," the ministry’s mining secretary, Alexandre Vidigal, said. "We are in the investigation phase and we cannot say whether the (inspection) model was adequate or not."

Deadly Brazil dam burst likely had same cause as previous one: Official

Brazilian mining giant Vale was hit with an initial $66.5 million fine Saturday over a dam collapse at one of its mines a day earlier that killed at least 10 people and left hundreds missing.&nbsp;

The amount, confirmed by multiple sources including a government official, was announced by the environment ministry, which did not immediately give an official figure.&nbsp;

It was levied by the government's environmental protection agency Ibama.

The penalty, for violations at the Vale iron ore mine in Brumaldinho, near the city of Belo Horizonte, will likely be followed by others as authorities evaluate the scale and gravity of the disaster, analysts told Brazilian media.

An official dealing with environmental issues in Minas Gerais state, where the dam collapse happened, told AFP the state was preparing another fine.

State authorities have already ordered $265 million in Vale's bank accounts be frozen with a view to making the funds available to victims of the disaster.&nbsp;

"The full force of the law" will be applied to those responsible, Minas Gerais governor Romeu Zema told reporters.

Shares in Vale, one of the biggest mining companies in the world, fell eight per cent in New York on Friday after the disaster occurred.

The company was involved in a similar dam collapse in 2015 at another mine it operated elsewhere in Minas Gerais in conjunction with Anglo-Australian company BHP.

In that case, their joint venture was slapped with a similar-sized fine that was later reduced, but which was in any case far eclipsed by an agreed $2.3-billion compensation payout -- and an ever bigger lawsuit that is still pending.

Brazilian mining giant Vale was hit with an initial $66.5 million fine Saturday over a dam collapse at one of its mines a day earlier that killed at least 10 people and left hundreds missing.

Brazilian mining giant Vale was hit with an initial $66.5 million fine Saturday over a dam collapse at one of its mines a day earlier that killed at least 10 people and left hundreds missing. The amount, confirmed by multiple sources including a government official, was announced by the environment ministry, which did not immediately give an official figure. It was levied by the government's environmental protection agency Ibama. The penalty, for violations at the Vale iron ore mine in Brumaldinho, near the city of Belo Horizonte, will likely be followed by others as authorities evaluate the scale and gravity of the disaster, analysts told Brazilian media. An official dealing with environmental issues in Minas Gerais state, where the dam collapse happened, told AFP the state was preparing another fine. State authorities have already ordered $265 million in Vale's bank accounts be frozen with a view to making the funds available to victims of the disaster. "The full force of the law" will be applied to those responsible, Minas Gerais governor Romeu Zema told reporters. Shares in Vale, one of the biggest mining companies in the world, fell eight per cent in New York on Friday after the disaster occurred. The company was involved in a similar dam collapse in 2015 at another mine it operated elsewhere in Minas Gerais in conjunction with Anglo-Australian company BHP. In that case, their joint venture was slapped with a similar-sized fine that was later reduced, but which was in any case far eclipsed by an agreed $2.3-billion compensation payout -- and an ever bigger lawsuit that is still pending.

Brazil's Vale hit with first fine over dam disaster

A German company that only months ago inspected a dam that collapsed in Brazil said on Saturday that it found nothing wrong with the structure during the checks.

The statement came as <a href="http://www.wionews.com/world/hope-fades-for-300-missing-in-brazil-dam-disaster-192991">hopes were fading that rescuers would find more survivors from at least 300 missing </a>after the dam collapsed at a mine in southeast Brazil, with nine bodies so far recovered.

Tuev Sued, a Munich-based company specialising in certifications across the world, said it ran the inspection at the request of Vale, the Brazilian mining giant that owns the mine.

"In September 2018 Tuev Sued, commissioned by Vale, carried out an inspection of the dam which, as far as we know at the moment, found no defects," a spokesman told AFP.

Tuev Sued was not in a position to give more information while the investigation into the disaster was ongoing, he said, adding however that the company was fully cooperating with the investigation, including by providing "all documentation needed".

On Friday, a torrent of mud broke through the dam at the iron-ore mine close to the city of Belo Horizonte, in the state of Minas Gerias.

The massive, muddy flow from the collapse barrelled towards the nearby town of Brumadinho, population 39,000, but did not hit it directly.

Instead, it carved its way across roads, vegetation and farmland, taking down a bridge, and damaging or destroying homes.

A German company that only months ago inspected a dam that collapsed in Brazil said on Saturday that it found nothing wrong with the structure during the checks.

A German company that only months ago inspected a dam that collapsed in Brazil said on Saturday that it found nothing wrong with the structure during the checks. The statement came as hopes were fading that rescuers would find more survivors from at least 300 missing after the dam collapsed at a mine in southeast Brazil, with nine bodies so far recovered. Tuev Sued, a Munich-based company specialising in certifications across the world, said it ran the inspection at the request of Vale, the Brazilian mining giant that owns the mine. "In September 2018 Tuev Sued, commissioned by Vale, carried out an inspection of the dam which, as far as we know at the moment, found no defects," a spokesman told AFP. Tuev Sued was not in a position to give more information while the investigation into the disaster was ongoing, he said, adding however that the company was fully cooperating with the investigation, including by providing "all documentation needed". On Friday, a torrent of mud broke through the dam at the iron-ore mine close to the city of Belo Horizonte, in the state of Minas Gerias. The massive, muddy flow from the collapse barrelled towards the nearby town of Brumadinho, population 39,000, but did not hit it directly. Instead, it carved its way across roads, vegetation and farmland, taking down a bridge, and damaging or destroying homes.

'No defect' found in Brazil dam during German inspection month ago

A dam in southeast Brazil collapsed on Friday, unleashing a torrent of mud that killed "several" people living in an area close to the city of Belo Horizonte, an official with the local fire service told AFP.

Emergency services were still responding to the situation in and around the town of Brumadinho and did not yet have a precise toll, the official said.

"According to accounts that we are receiving, there were several deaths," he said.

Television images taken from the air showed a wide swath of devastation cut through vegetation and farmland in which several homes were seen, many damaged and some destroyed, with nothing but their tiled roofs left sitting on mud.

A rescue helicopter was seen hovering close to two survivors trapped up to their waist in mud, with its crew trying to pull them to safety.

An online video showed the moment the river of tons of mud cut across a road.

The dam belonged to Brazil's biggest mining company Vale, which confirmed its collapse and said "the total priority is to protect the lives of employees and inhabitants."

Brumadinho's municipality issued an alert on social media warning residents to move away from the Paraopeba river that the dam had been holding back.

The emergency recalled trauma from a 2015 dam break in a different part of the same state of Minas Gerais, at Mariana, in which 19 people died. That was considered the country's worst environmental disaster.

A dam in southeast Brazil collapsed on Friday, unleashing a torrent of mud that killed "several" people living in an area close to the city of Belo Horizonte, an official with the local fire service told AFP.

A dam in southeast Brazil collapsed on Friday, unleashing a torrent of mud that killed "several" people living in an area close to the city of Belo Horizonte, an official with the local fire service told AFP. Emergency services were still responding to the situation in and around the town of Brumadinho and did not yet have a precise toll, the official said. "According to accounts that we are receiving, there were several deaths," he said. Television images taken from the air showed a wide swath of devastation cut through vegetation and farmland in which several homes were seen, many damaged and some destroyed, with nothing but their tiled roofs left sitting on mud. A rescue helicopter was seen hovering close to two survivors trapped up to their waist in mud, with its crew trying to pull them to safety. An online video showed the moment the river of tons of mud cut across a road. The dam belonged to Brazil's biggest mining company Vale, which confirmed its collapse and said "the total priority is to protect the lives of employees and inhabitants." Brumadinho's municipality issued an alert on social media warning residents to move away from the Paraopeba river that the dam had been holding back. The emergency recalled trauma from a 2015 dam break in a different part of the same state of Minas Gerais, at Mariana, in which 19 people died. That was considered the country's worst environmental disaster.

Dam collapses in Brazil; several feared dead

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Vale's CEO, other executives, to step down after Brazil dam burst

Deadly Brazil dam burst likely had same cause as previous one: Official

Brazil's Vale hit with first fine over dam disaster

'No defect' found in Brazil dam during German inspection month ago

Dam collapses in Brazil; several feared dead