BHP, Vale get more time to settle Samarco mine disaster claim
BHP, Vale get more time to settle Samarco mine disaster claim
Sydney - Egypt Today
Mining giant BHP said Tuesday it had been given more time by a Brazilian court to negotiate the settlement of a massive claim over the fatal Samarco mine collapse.
Samarco, co-owned by BHP and Brazil's Vale, is facing a 155 billion reals (US$47.6 billion) legal claim for clean-up costs and damages after the 2015 tragedy in which 19 people died in one of the South American nation's worst environmental disasters.
Brazilian federal prosecutors had commenced proceedings in court for the settlement, and later agreed to work with the two firms to hammer out an agreement.
The negotiation period was extended to mid-November, with a Brazilian court then giving BHP and Vale another 150 days to seal a deal with prosecutors.
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