The Latest: Vale shares tank after Brazil mine breach - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Advertise
    • Contact
    • Editorial Staff
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
January 28, 2019 Newswires
Share
Share
Post
Email

The Latest: Vale shares tank after Brazil mine breach

Associated Press

BRUMADINHO, Brazil (AP) — The Latest on the mining waste dam collapse in Brazil (all times local):

4 p.m.

Shares of big Brazilian mining company Vale SA have plummeted following a mine collapse that killed at least 60 people and left nearly 300 missing.

The company's American depository shares on the New York Stock Exchange were down 17.6 percent in Monday afternoon trading, to $11.26 each.

A treacherous sea of reddish-brown mud that surged out Friday when the iron ore mine's dam breached is up to 24 feet (8 meters) deep in some places.

Sen. Renan Calheiros is calling for Vale's board of directors to step down and Attorney General Raquel Dodge says that Vale executives could be held responsible.

The company is the world's largest producer of iron ore, the raw ingredient for making steel.

2 p.m.

Firefighters say the death toll from a Brazilian mine dam collapse has risen to 60, with 292 people still missing.

In an ominous sign, nobody was recovered alive Sunday.

The slow pace of search efforts is due to the treacherous sea of reddish-brown mud that surged out when the mine dam breached Friday afternoon. It is up 24 feet (8 meters) deep in some places.

Meanwhile, anger is growing at the company that operates the mine.

Sen. Renan Calheiros is calling for Vale's board of directors to step down and Attorney General Raquel Dodge says that Vale executives could be held responsible.

7:15 a.m.

A German company that last year inspected the dam in Brazil that collapsed Friday says it's working with authorities investigating the deadly disaster in which at least 58 people died.

TUEV Sued, based in Munich, confirmed Monday that it had conducted a periodic review of dams for Brazilian mining company Vale in July 2018 and a regular inspection of dam safety in September last year.

The company declined to provide further details about the reviews, which were commissioned by Vale. But TUEV Sued said it was "fully supporting the investigations and making all required documents available to the investigating authorities."

Brazilian authorities say up to 300 people are still missing after iron ore waste from a mine that flooded the mine complex and nearby neighborhoods in the southeastern city of Brumadinho.

2 a.m.

Firefighters in Brazil are carefully moving over treacherous mud, sometimes even crawling, in search of survivors or bodies left by a dam collapse that buried mine buildings and surrounding neighborhoods with iron ore waste.

The confirmed death toll rose to 58 late Sunday, with up to 300 people still missing, according to authorities. In an ominous sign, nobody was recovered alive Sunday, a stark difference from the first two days of the disaster, when helicopters were whisking people from the mud.

A treacherous sea of reddish-brown mud that surged out when the mine's dam breached Friday afternoon is up to 24 feet (8 meters) deep in some places.

Search efforts were suspended about 10 hours Sunday because of fears that a second mine dam in the southeastern city of Brumadinho was at risk of failing. An estimated 24,000 people were told to get to higher ground.

Older

This Elkins Park company has a plan to reduce employees’ health-care costs

Newer

Professional Liability Coverage Expert, Michael McCluskey, Joins Brooks Insurance Agency as Senior Vice President

Advisor News

  • NAIFA: Financial professionals are essential to the success of Trump Accounts
  • Changes, personalization impacting retirement plans for 2026
  • Study asks: How do different generations approach retirement?
  • LTC: A critical component of retirement planning
  • Middle-class households face worsening cost pressures
More Advisor News

Annuity News

  • Trademark Application for “INSPIRING YOUR FINANCIAL FUTURE” Filed by Great-West Life & Annuity Insurance Company: Great-West Life & Annuity Insurance Company
  • Jackson Financial ramps up reinsurance strategy to grow annuity sales
  • Insurer to cut dozens of jobs after making splashy CT relocation
  • AM Best Comments on Credit Ratings of Teachers Insurance and Annuity Association of America Following Agreement to Acquire Schroders, plc.
  • Crypto meets annuities: what to know about bitcoin-linked FIAs
More Annuity News

Health/Employee Benefits News

  • Validation of the French Versions of the PHQ-4 Anxiety and Depression Scale and the PC-PTSD-5 Post-Traumatic Stress Disorder Screening Scale: Mental Health Diseases and Conditions – Anxiety Disorders
  • EmblemHealth will pay $2.5M after investigation reveals 'ghost network' of providers
  • Researchers from California Polytechnic State University Report on Findings in COVID-19 (Exploring the Role of Race/Ethnicity, Metropolitan Status, and Health Insurance in Long COVID Among U.S. Adults): Coronavirus – COVID-19
  • Former NFL player convicted in nearly $200M Medicare fraud scheme
  • Senior Health Insurance in Florida Adapts to 2026 Care Costs
More Health/Employee Benefits News

Life Insurance News

  • IUL tax strategy at center of new lawsuit filed in South Carolina
  • National Life Group Announces 2025-2026 LifeChanger of the Year Grand Prize Winner
  • International life insurer Talcott to lay off more than 100 in Hartford office
  • International life insurer to lay off over 100 in Hartford office
  • Puritan Life SVP Dierdre Woodruff named Life Insurers Council board chair
Sponsor
More Life Insurance News

- Presented By -

Top Read Stories

More Top Read Stories >

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Elevate Your Practice with Pacific Life
Taking your business to the next level is easier when you have experienced support.

LIMRA’s Distribution and Marketing Conference
Attend the premier event for industry sales and marketing professionals

Get up to 1,000 turning 65 leads
Access your leads, plus engagement results most agents don’t see.

What if Your FIA Cap Didn’t Reset?
CapLock™ removes annual cap resets for clearer planning and fewer surprises.

Press Releases

  • RFP #T22521
  • Hexure Launches First Fully Digital NIGO Resubmission Workflow to Accelerate Time to Issue
  • RFP #T25221
  • LIDP Named Top Digital-First Insurance Solution 2026 by Insurance CIO Outlook
  • Finseca & IAQFP Announce Unification to Strengthen Financial Planning
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Advertise
  • Contact
  • Editorial Staff
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet