The Lloyd’s List Podcast: Disaster and political turmoil in South America
On this week's podcast our senior reporters consider what the deadly collapse of a dam around one of Vale's iron ore mines and sanctions against Venenzuela's oil business mean for the maritime industry
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A TUMULTUOUS week in South America saw a fatal dam collapse in Brazil and a struggle for power with international involvement in Venezuela.
Iron ore behemoth Vale found itself at the centre of yet another physical disaster in Brazil, after the dam that held mud and water from its Feijao mine burst. According to international news reports, more than 100 people have died from the collapse and hundreds are missing.
Vale subsequently decided to stop iron ore production in other mines to dismantle 10 dams, translating into a reduction in output of 40m tonnes of iron ore annually.
Meanwhile, in Venezuela, Juan Guaido’s decision to name himself interim president of the country in the face of the contested legitimacy of current president Nicolas Maduro set off a chain of events.
After throwing their support behind Mr Guaido, the US imposed sanctions on Venezuela’s state-run oil producer Petróleos De Venezuela.
This week the Lloyd’s List Podcast looks at the impact of these events on the maritime sector and what we can expect they could bring for it in the near future.