most of it will be paid for the Samarco entity which is producing again. BHPs provision liability is an estimation of the amounts it thinks Samarco can’t pay. BHP and VALE agreed on 50/50 shareholder basis to pay whatever Samarco can’t.
what happened was horrific, it shouldn’t have happened. It’s probably a lesson for BHP to always be the operator and ensure its high standards are applied to operations. As a good corporate citizen whom rely on their brand to get approval for projects BHP have stumped up. Vale was the operator… not BHP.
Youll probably find the actual quality of life of a lot of those poor villages has improved beyond what was ever possible. Except for those 19 people who lost their lives. Have a look at the housing etc that’s been replaced by Samarco (vale and BHP).
BHP Price at posting:
$43.16 Sentiment: Buy Disclosure: Held
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