From Mining Savior to Homicide Charges, the Fall of Vale’s Chief

Fabio Schvartsman was supposed to be the fresh face that would help Vale SA, the world’s biggest iron ore miner, advance after a 2015 dam collapse. Instead, the 65-year-old is facing homicide charges after the company’s latest deadly disaster.

While he knew little of mining and metals, Schvartsman had more than doubled the shares at Klabin SA, Brazil’s largest paper producer, where he secured financing to roll out low-cost projects and gained a reputation for cost efficiency. He was named to lead Vale in May 2017, just as the company brought the industry’s largest new project online, boosting both production and profit.