BHP Billiton reaches $1.55bn settlement with Brazil over dam collapse
Source: Australian Associated Press
BHP Billiton reaches $1.55bn settlement with Brazil over dam collapse
Australian Associated Press
Wednesday 2 March 2016 21.46 GMT
BHP Billiton has agreed to a $1.55bn settlement with Brazilian authorities over the Samarco dam disaster.
The Anglo-Australian mining giant and its joint venture partner Vale say they have set up a fund worth 4.4bn Brazilian reals to be distributed through 2018.
“This agreement demonstrates our commitment to repairing the damage caused and to contributing to a lasting improvement in the Rio Doce,” said BHP’s chief executive, Andrew Mackenzie.
A massive spill of waste material in a November dam collapse at the Samarco mine killed at least 17 people and has been called Brazil’s worst environmental disaster.
http://www.theguardian.com/world/2016/mar/03/bhp-billiton-reaches-155bn-settlement-with-brazil-over-dam-collapse