On March 1, Vale received a recommendation from the Federal Public Prosecution Office, the Public Prosecution Office of the State of Minas Gerais, the Federal Police and the Civil Police of Minas Gerais to dismiss some executives and employees at various levels of the company following the tailings dam failure on January 25 at Vale’s Córrego de Feijão mine in Brumadinho, Minas Gerais, that killed at least 150 people. CEO Fábio Schvartsman has been temporarily removed from his position, as well as Executive Director of Ferrous and Coal Gerd Peter Poppinga, Head of Planning and Development of Ferrous and Coal Lucio Flavio Gallon Cavalli, and Head of Operations of the Southeast Corridor Silmar Magalhães Silva.

Eduardo de Salles Bartolomeo, currently executive director of base metals, was appointed interim CEO of Vale. Claudio de Oliveira Alves, current head of pellet and manganese, will hold the interim position of executive director of ferrous and coal and Mark Travers, head of legal, institutional relations and sustainability of base metals, will hold the interim position of executive director of base metals.

Vale said it remains ready to seek a transparent and productive relationship with Brazilian authorities “in order to clarify the facts, to properly remediate the damages and to maintain the company’s integrity.”