BHP settles Samarco

BHP settles liabilities for the Brazil mine disaster.

The collapse of the tailings dam operated by Samarco, a joint venture between BHP Billiton and Brazilian miner Vale, is among the worst mining disasters in a decade and the worst ever seen in Brazil. We won’t dwell on the non-financial cost of the disaster here other than to say it is high.

The financial liability, however, has been agreed with the Brazilian government at a cost of between US$1.7-2.3bn paid over six years. BHP should be liable to half that sum.

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