BHP has confirmed a settlement agreement with Vale regarding group action proceedings in the UK in respect of the Fundão Dam failure in Brazil. The miner said it and its UK arm were defendants to a group action claim in the English High Court, which was brought by over 600,000 claimants seeking damages in relation to the 2015 Fundão Dam…
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Miners Vale and BHP, and their joint venture Samarco, have presented Brazilian authorities with a new offer to settle reparations for a tailings dam collapse in 2015, reported Reuters. The new proposal totals 140 billion reais (US$26.09 billion), including 37 billion reais already disbursed in reparation measures, Vale said in a securities filing. It is 13 billion reais higher than…
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Vale SA and BHP, along with the pair’s Samarco iron ore joint venture, must pay 47.6 billion reais, or US$9.67 billion, for damages sustained in the Samarco Fundao tailings dam burst in Mariana, Brazil more than eight years ago. According to reports from Bloomberg and Reuters, the legal decision regarding the November 2015 incident that killed 19 was made 25…
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