BHP approves $44m funding for Samarco restart

BHP Group said on Friday that it has approved $44m funding for work to restart a concentrator at Samarco Mineracao's operations at the German iron ore complex in Brazil.

Operations were suspended in November 2015 following a deadly dam collapse.

BHP said the funding will enable the construction of a filtration plant over the next year and the commencement of operation readiness activities for restart.

The company said it has now obtained all environmental licenses required to progress towards operational restart.

"Restart can occur when the filtration system is complete and Samarco has met all necessary safety requirements, and will be subject to final approval by Samarco's shareholders," it said.

BHP Billiton Brasil and Vale S.A. each hold a 50% stake in Samarco.