The proposal includes 37 billion reais already disbursed as part of the reparations for the disaster that killed 19 people, destroyed entire villages, and polluted a major river.
Under the terms of the new proposal, 72 billion reais are designated for payment to federal and local governments over the coming years, with an additional 18 billion reais allocated for future obligations. Despite the substantial figures, Jarbas Soares Junior, the top prosecutor in Minas Gerais, feels the amount falls short. He has expressed his dissatisfaction with the proposed sum and is pushing for an increase to 137 billion reais, stating that an additional 500 million reais per year over 20 years would not be overly burdensome for the mining giants.
Vale has signaled optimism about reaching a final agreement by the first half of 2024, asserting that the proposed settlement is structured to be beneficial for all parties involved. Since an initial deal was struck in 2016, establishing a foundation for reparations, Vale reported that 17 billion reais have been paid out to more than 430,000 affected individuals and about 85% of resettlement cases have been completed.
As negotiations proceed, authorities remain committed to securing a definitive and just resolution to one of the worst environmental disasters in Brazilian history.
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