UPDATE 2-Brazil charges ex-Vale CEO with homicide for dam disaster

Brazilian state prosecutors have charged Fabio Schvartsman, the former chief executive of miner Vale, and 15 other people with homicide for a dam disaster last year that killed more than 250 people, according to the charging document seen by Reuters. In addition to homicide charges, Vale SA and TUV SUD, the company responsible for inspecting the dam, were charged with environmental crimes.

The 16 individuals charged had worked for Vale or TUV SUD, prosecutors said. Reuters reported earlier this month that prosecutors were set to file criminal charges in the coming days.

The collapse of the Vale tailings dam on Jan. 25, 2019 in the town of Brumadinho was one of the world's deadliest mining accidents and knocked $19 billion off Vale's market value in a single day. Vale shares were down almost 2% in afternoon trade in Sao Paulo.

In a statement, TUV SUD said it was cooperating with authorities and could not comment further on the case as investigations were continuing. Vale did not immediately respond to a request for comment.

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