BHP says reached settlement agreement with Brazil over Samarco

19 Jan, 2017 11:31 am

SYDNEY – BHP Ltd, its partner Vale SA and Samarco have reached an agreement with Brazil authorities to settle a $47.5 billion (38.7 billion pounds) civil claim over the Samarco iron ore mine disaster, the companies said on Thursday.

Operations at the Samarco mine were suspended in 2015 after the collapse of a dam holding mining waste, or tailings. The rupture killed 19 people and caused Brazil’s worst environmental disaster.

All three companies have agreed to pay substantial amounts to cover social and environmental impacts and remediation. -Reuters

Must Watch