Why Vale Stock Remains Risky
Giant Brazilian miner Vale (NYSE: VALE) has been in the news for all the wrong reasons lately, and there's actually very little reason to expect material improvement. Here's an update on what's going on, and why the stock remains a very risky investment.
Vale's current troubles date back to 2015, when a mine waste dam broke at the Samarco mine, a 50/50 joint venture between Vale and peer BHP. The waste, or tailings in industry jargon, from that rupture destroyed a nearby village and killed 19 people. While Vale was working through the physical, legal, and regulatory mess left behind from that event, it was hit by another, larger, incident in early 2019. This time a mine waste dam broke at its wholly owned Bramadinho mine, destroying property and killing 248 people.
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Source Fool.com
