Seven people were killed and one was injured when a private plane reportedly belonging to Roger Agnelli, former chief executive of Brazil's leading iron ore mining firm Vale, crashed into a residence in Sao Paolo.

The single-engined aircraft crashed in the northern suburb of Casa Verde on Saturday shortly after flying just 300 metres from Sao Paulo's Campo de Marte airport, Globonews reported.

All on board the plane - Agnelli, his family and the pilot - died in the accident, according to local media.

Residents of the three-storey building with which it collided were able to flee the resulting blaze via the back courtyard, the Globonews report said. One woman was injured.

The cause of the crash remains unclear.

Agnelli reportedly died alongside his wife, his son and daughter, and their two partners, as well as the pilot. Globonews said that the bodies have been retrieved from the wreckage.

Under Agnelli's leadership from 2001-11, Vale became one of the world's top three mining corporations.

The Brazilian businessman went on to found his own investment company and had been tipped recently by media as the next possible head of crude oil firm Petrobas.

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