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ONE OF THE WORLD'S LARGEST MINING COMPANIES FILES FOR BANKRUPTCY

... bankruptcy. The appeal to the court of the state of Minas Gerais to restructure the company’s debt, according to Reuters, is similar to the application usually filed by bankrupt companies in the United States, citing Chapter 11 of the bankruptcy code. Samarco is the second largest mining and iron ore pellet company in the world. Until 2015, the company's capacity reached 30.5 million tons annually. But in November 2015, a dam burst led to the death of 19 people at one of the mines belonging to a Latin American company. The environmental ...

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