Brazilian miner Samarco Mineracao filed on Wednesday a new debt restructuring proposal to creditors, in which it proposes to limit how much the miner will have to pay in the future in reparations for the dam burst in Mariana, in Minas Gerais, sources with knowledge of the matter said.
The company proposed a cap of $2.4 billion on any potential new cash injections into the Renova foundation to pay for reparation efforts of the 2015 disaster. Any further expenditure for reparation efforts would be funded by shareholders Vale SA VALE3.SA and BHP Group BHPB.L (BHP) , according to the proposal. That would remove some uncertainty related to the reparation costs.
News: BHP Brazilian miner Samarco presents new debt restructuring proposal -sources
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