Brazil's petrochemical giant Braskem said Friday it had reached a $356 million settlement with a coastal city where four decades of the company's rock salt mining destroyed five urban neighborhoods and displaced tens of thousands of people.
Around 200,000 people in the Alagoas state’s capital of Maceio were affected by the excessive extraction of rock salt, according to the Brazil Senate’s website. In recent years, several Maceio communities became ghost towns as residents accepted Braskem's payouts to relocate.
