A dam failure near a major Brazilian iron mine may have a knock-on effect for the capesize market according to one equity analyst.
The dam in the Brazilian state of Minas Gerais broke Thursday afternoon, inundating a nearby town and causing at least two known fatalities.
Samarco, a joint venture (JV) of Australia’s BHP Billiton and Brazil’s Vale, owned the dam, which stored wastewater from its nearby operations.
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