SAO PAULO, Oct 26 — Mining giants BHP and Vale yesterday signed a deal with Brazil’s government to pay nearly US$30 billion (RM130.2 billion) in damages for a 2015 dam collapse...
General view from above of a dam owned by Vale SA and BHP Billiton Ltd that burst in Mariana, Brazil , November 10, 2015. — AFP picSAO PAULO, Oct 26 — Mining giants BHP and Vale yesterday signed a deal with Brazil ’s government to pay nearly US$30 billion in damages for a 2015 dam collapse that triggered the country’s worst environmental disaster.
More than 620,000 complainants, including 46 Brazilian municipalities and several Indigenous communities, are seeking an estimated £36 billion in damages in the civil trial.The company said yesterday that the agreement reached in Brasilia did not end the lawsuits pending against the companies, nor prevent others being taken.
BHP and Vale had already agreed in 2016 to pay 20 billion reais in damages, but the negotiations were reopened in 2021 due to what the government called their “non-compliance” and the slow progress of Brazil’s justice system in resolving the dispute. The companies agreed to pay 100 billion reais to local authorities over twenty years and 32 billion reais towards compensating and resettling the victims, as well as repairing the harm caused to the environment.
Vale Dam Brazil Environment Disaster
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