Brazil court reinstates charges against former Vale CEO
- •Hey everyone, Just read this article over on Mining.com about the Brazil court reinstating charges against the former Vale CEO.
- •I remember when the Brumadinho disaster happened, I was actually looking at adding more VALE to my portfolio for its iron ore exposure.
- •Good thing I held off, because the fallout from that was massive, and ethically, it just didn't sit right with me.
Hey everyone,
Just read this article over on Mining.com about the Brazil court reinstating charges against the former Vale CEO. Link here: https://www.mining.com/brazil-court-reinstates-charges-against-former-vale-ceo/
Honestly, this whole situation with Vale has been a tough one to watch unfold, particularly for those of us who have held mining stocks for a while. I remember when the Brumadinho disaster happened, I was actually looking at adding more VALE to my portfolio for its iron ore exposure. Good thing I held off, because the fallout from that was massive, and ethically, it just didn't sit right with me. The article mentions prosecutors saying Schvartsman "ignored known risks linked to the Córrego do Feijão tailings dam" – that's just infuriating. It's one thing for an accident to happen; it's another entirely for risks to be actively downplayed or ignored. As investors, we always try to balance risk and reward, but when human lives are at stake due to corporate negligence, it definitely makes you re-evaluate your positions and the companies you choose to support. My retirement portfolio is built on long-term, responsible growth, and incidents like this show how crucial good governance and ethical leadership are.
What are your thoughts on this? Does this change your perception of Vale long-term, or do you see it as a necessary step for accountability? Curious to hear from others who might have been invested in VALE or similar mining companies during that period.