July 17, 2018 / 11:12 PM / 3 months ago

Vale says to make new $390 mln provision for Samarco disaster

BRASILIA, July 17 (Reuters) - Brazilian iron-ore miner Vale SA will make an additional 1.5 billion reais ($390 million) provision in its second quarter results to cover obligations due to the Samarco dam failure, the company said on Tuesday in a securities filing.

Vale said the new provision amounted to 50 percent of the updated calculation of reparations and compensations that will come due over the next 12 years, and adds to an initial provision of 3.7 billion reais made in the second quarter of 2016.

$1 = 3.8377 reais Reporting by Anthony Boadle; Editing by Sandra Maler

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