BHP, Vale Face About $43 Bln Civil Claim In Brazil Over Dam Disaster

(RTTNews) - Brazilian prosecutors have filed a BRL 155 billion or about US$43 billion civil lawsuit against iron miner Samarco Mineração S.A, and its owners BHP Billiton Ltd. (BHP.AX, BLT.L, BBL, BHP) and Vale for social, environmental and economic compensation in relation to the failure of the Fundão tailings dam at the Samarco iron ore operation in Minas Gerais, Brazil on 5 November 2015.

The lawsuit follows the collapse of a dam they owned that caused a huge mudslide, polluted a river, and killed 19 people.

BHP Billiton said it has not received formal notice of the claim.

BHP Billiton said it remains committed to helping Samarco to rebuild the community and restore the environment affected by the failure of the dam.

Oon 2 March 2016 BHP Billiton announced that Samarco, Vale and BHP Billiton Brasil entered into an agreement with the Federal Attorney General of Brazil, the States of Espirito Santo and Minas Gerais and certain other public authorities for the restoration

The Agreement provides a long-term remedial and compensation framework for responding to the impact of the Samarco tragedy. It incorporates a requirement for community consultation on the remediation projects and compensation of the environment and communities affected by the Samarco dam failure.