Based on the theoretical framework of sustainability tensions, this study aims to analyse how the different stakeholders understand the tragedy that occurred with the Brumadinho Dam in Brazil and its emerging tensions. This tragedy is considered the largest work tragedy to occur in Brazil and one of the largest in the global context. The study was developed from interviews and media documents, that is, secondary data. The results show that the tensions that emerged can be codified into environmental, social, economic, cultural, and institutional groupings. The tragedy may be examined from multiple perspectives, one of which is from the position of the actor involved in the enterprise of the collapsed tailings dam structure. Each actor defends his principles, values, and rights. It is a fact that the lives of the people affected and those who died are not recoverable. Environmental damage can be minimized through long-term mitigation measures, but social, demographic, historical, and cultural damage is irrecoverable. Thus, the study offers the following contributions: (i) the tragedy has different interpretations by the different stakeholders; (ii) paradoxical tensions impact differently on the lives of those affected; (iii) trade-offs from tragedy need to be managed; (iv) Brazil urgently needs to learn relevant lessons arising from the tragedies experienced and described in our article. Therefore, an immense and complex challenge that is on the agenda at that moment in Brazil is ripe for analysis.