BHP Billiton Says Significant Progress In Talks On Samarco Dam Disaster

(RTTNews) - Mining giant BHP Billiton (BHP.AX, BLT.L, BBL, BHP) Friday announced that significant progress has been made with the negotiations with the Brazilian Government in relation to the Samarco dam failure in Brazil. The company was responding to speculation in the press that a settlement has been reached with the Brazilian authorities concerning the claim.

As announced on November 30 last year, 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 S.A. are in negotiations with the Brazilian Government in relation to that claim. BHP said it is hopeful that an agreement will be reached. If and when that happens, an announcement will be made at that time.