BHP slides on Samarco

BHP and Vale received a surprising new claim from the Samarco disaster. Unsurprisingly, the share price tanked.

The collapse of the tailings dam at the Samarco iron ore project in Brazil was supposedly settled earlier this year when the joint venture – comprising BHP and Vale – along with state and federal governments agreed to a staggered US$2.3bn compensation claim.

Implicit in the deal was that Samarco would regain licences to eventually recommence production following cleanup and repairs.  This was supposed to be settled.

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