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Vale, BHP propose $25bn settlement for Mariana disaster reparations

29th April 2024

By: Reuters

  

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SAO PAULO - Vale, BHP and their joint venture Samarco have presented Brazilian authorities with a settlement proposal related to reparations for the 2015 Mariana tailings dam burst, which killed 19 people and left hundreds homeless.

The proposal, the Brazilian mining giant said in a securities filing on Monday, foresees a total payment of 127-billion reais ($24.88-billion), including 37-billion reais already disbursed.

Of the remaining amount, Vale said, 72-billion reais would be paid to the federal and local government over an undisclosed period, while 18-billion reais would be used to settle future obligations.

Vale had previously said that it expected to reach a final agreement regarding the collapse of the tailings dam by the end of the first half of 2024.

Edited by Reuters

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