Brazilian mining firm Vale SA agreed to pay $55.9 million to settle charges related to allegedly false and misleading disclosures about the safety of its dams prior to a 2019 dam collapse in Brazil that killed 270 people, the U.S. Securities and Exchange Commission said on Tuesday. The U.S. regulator sued Vale in April, alleging the company manipulated dam safety audits, obtained fraudulent stability certificates and misled local governments, communities and investors with its environmental, social and governance (ESG) disclosures. A Vale dam in the Brazilian town of Brumadinho burst in January 2019, unleashing a river of toxic mining waste that crushed a dining hall and destroyed parts of the nearby countryside.
Wheaton (WPM) benefits from a solid portfolio and a recent pick-up in gold prices.
Apparently, even the price of stones has skyrocketed.