...this as this thread had been cautioning for some time. ...but...

...this as this thread had been cautioning for some time.

...but the bigger UK class action lawsuit still awaits, and this settlement probably suggests that the class action would win their case as well.

BHP confirms $38b Samarco disaster settlement

Cecile Lefort\

Mining giant BHP confirmed it has reached a $US25.7 billion settlement with the Brazilian government following the Samarco dam disaster in 2015.
The deal is based on Samarco as the primary obligor. There is a 50 per cent contribution from each of Vale and BHP Brasil as secondary obligors.

....not sure if it has been reached, but this is BHP proposal and it has only provided for half of BHP's USD12.35B settlement liability.


BHP Brasil’s provision for the Samarco dam failure is US$6.5 billion as at 31 December 2023 which includes the assessment of the estimated costs to resolve all aspects of the Federal Public Prospection Office Claim and the Framework Agreement obligations.

As part of the settlement negotiations, BHP Brasil, Samarco and Vale have submitted a non-binding, indicative settlement proposal which is within BHP Brasil’s provision for the Samarco dam failure. The proposal is for a total financial value of approximately R$127 billion (approximately US$25.7 billion1 ) on a 100% basis with Samarco as the primary obligor and a 50% contribution from each of Vale and BHP Brasil as secondary obligors if Samarco cannot fund.