Vale Losing Too-Big-to-Regulate Edge as New Regulator Steps Up
- Ex-Judge with no past ties to mining giant eyes broad changes
- First orders of business: Boosting regulatory budget, staff
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Vale SA’s too-big-to-regulate advantages may be coming to an end in Brazil.
In the 10 years before Brazil suffered two of the world’s worst mining disasters, the federal regulators who oversee the industry -- and particularly Vale, one of Brazil’s biggest employers -- received only 10 percent of the money budgeted to go to them.