Vale, BHP Own Joint Venture That Operated Brazilian Mine Disaster Site

Two major iron ore miners are under pressure after a dam burst in Brazil causing widespread disaster and at least three deaths. The British steel industry is urging the EU to enact dumping curbs against China.

Widespread Destruction After Mining Dams Break

More than two dozen people remain missing days after a deadly mining accident in Brazil involving two of the world’s largest mining groups, authorities in the country said on Sunday.

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Rescue services said three people were confirmed to have died when two dams burst and engulfed a small town in mining waste, and the whereabouts of another 28 people — including 13 mine workers — remained unknown.

Brazilian media reported on Sunday that what is being called the “mud tsunami” had hit areas more than 60 miles away from the dams.

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BHP Billiton said its chief executive Andrew Mackenzie would travel to Brazil this week as the Anglo-Australian miner confronts the aftermath of the accident along with Vale SA, its Brazilian joint-venture partner. BHP and Vale own 50% each of Samarco, the independently operated iron ore miner that controlled the project in Minas Gerais state where the accident occurred late on Thursday.

British Steelmakers Want Dumping Duties

British steelmakers called for business minister Sajid Javid to insist on immediate action against Chinese steel dumping when he meets European Union economy and industry ministers in Brussels today. Britain requested the emergency meeting after nearly 4,000 of its steel jobs were lost or put at risk in October — equivalent to about a fifth of the sector’s workforce — with steelmakers and unions pinning much of the blame on China.

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