BHP Billiton says no settlement reached over Samarco disaster

BHP Billiton denied it has reached a settlement with Brazilian authorities over the Samarco mine disaster.

In early November, a tailings dam burst at the mine in Brazil's Minais Gerais region, killing 19 people in the resulting mudslides.

The FTSE 100 company, which holds a 50% stake in the mine , said on Friday that significant progress has been made in negotiations with the Brazilian authorities.

But the company denied press speculation that it has reached a settlement, saying they are still hopeful one will be reached.

The Federal Attorney General, the States of Espirito Santo, Minas Gerais and other public authorities have commenced a public civil claim, seeking the establishment of a fund for clean-up costs and damages relating to the Samarco dam failure.

BHP Billiton Brasil, Samarco and Vale are in negotiations with the Brazilian Government in relation to that claim.