BHP Billiton, Vale, JV Reach Preliminary Agreement With Brazil Prosecutors Related to Claim Tied to Dam Failure
January 19 2017 - 1:53AM
Dow Jones News
By Rhiannon Hoyle
SYDNEY--Vale SA (VALE), BHP Billiton Ltd. (BHP) and their
Brazilian iron-ore joint venture, Samarco Mineracao SA, have agreed
on a plan with federal prosecutors in Brazil for negotiating a
settlement of a $47.5 billion civil claim linked to a dam failure
that killed 19 people in November 2015, BHP said.
Under the preliminary agreement entered with Brazilian
prosecutors, Samarco and its shareholders expect to provide
security of 2.2 billion reais ($680 million) to support social and
environmental remediation programs, BHP said Thursday in a filing
to the Australian stock exchange.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
January 19, 2017 01:38 ET (06:38 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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