BHP offers $25.7bn settlement for Brazil dam disaster
BHP Group Limited NPV (DI)
1,960.50p
17:15 20/12/24
-0.10%
-2.00p
Mining giant BHP and its Brazilian joint venture partner have submitted a $25.7bn (£20.5bn) settlement for the collapse of a tailings dam in 2015 that killed 19 people and devastated the local community.
Mining
10,313.46
17:14 20/12/24
1.14%
116.22
Samarco, the joint company set up by Australian BHP and Brazilian operator Vale, has so far paid out $3.5bn. The new offer is a “non-binding, indicative settlement proposal” within BHP Brasil's provision for the dam failure.
“The negotiations between the parties are ongoing and no final agreement has been reached on the settlement amount or terms,” BHP said in a statement.
Reporting by Frank Prenesti for Sharecast.com