Mining giant BHP has agreed to a massive $23.7bn settlement with the Brazilian government over the 2015 Samarco dam disaster.
The pay out, which would be one of the largest environmental settlements in history if finalised, is part of a total $47bn settlement with the government over the catastrophe.
In a statement to the New York Stock Exchange overnight on Friday, BHP said it and joint-venture partner Vale had reached a tentative agreement with Brazil’s Public Prosecution Office over the civil claims brought against them.
“The parties are negotiating a settlement proposal that would provide a total financial value of
approximately US$31.7bn ($47.25bn) on a 100 per cent basis to be delivered to the people, communities and environment impacted by the dam failure,” the company said.
“The final settlement is expected to provide reparation for the impacts of the dam failure and resolve the Federal Public Prosecution Office claim and all existing claims by the Public Authorities in relation to the dam failure.”
https://www.news.com.au/finance/business/mining/bhp-nears-237bn-settlement-with-brazil-over-samarco-dam-failure/news-story/4e34209a49fff7ea0b83f05948b05aeb
Mining giant BHP has agreed to a massive $23.7bn settlement with...
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