Vale to Pay $55.9 Million to Settle SEC Suit Tied to Dam Safety

Vale SA, one of the world’s largest iron ore miners, agreed to pay $55.9 million to settle a US financial regulator’s claims the company misled investors about safety before the collapse of its Brumadinho dam that killed 270 people.

The settlement, announced by the Securities and Exchange Commission on Tuesday, resolves an 11-month lawsuit that the company had vowed to fight.

In a court filing, the regulator said Vale agreed to resolve some claims without admitting or denying wrongdoing, and that the agency wouldn’t fight the company’s motion to dismiss allegations it intentionally engaged in fraud. The deal requires ...