Exclusive: Vale of Brazil, a state government two billion dollars away for disaster resolution, the source says

RIO DE JANEIRO (Reuters) – Brazilian miner Vale SA and state authorities narrowed the gap in a potential Brumadinho mining disaster resolution deal to 11 billion reais ($ 2 billion) before talks broke down, he said. on Friday a person close to the negotiations told Reuters.

Minas Gerais state government lowered its demands for a deal to 40 billion reais in a meeting with Vale on Thursday, down from the 54 billion reais of compensation previously requested, said the source, who spoke on condition of anonymity at the close of the negotiations. Vale has offered 29 billion reais, the person said, with talks stalled on the difference.

Reportage by Marta Nogueira; Written by Jake Spring; Editing by Leslie Adler