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Mining|Resources
Mining|Resources
mining|resources

Vale, BHP, Samarco could close $18bn deal over Brazil dam collapse

9th September 2024

By: Reuters

  

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RIO DE JANEIRO - Mining companies Vale and BHP, together with their joint venture Samarco, may soon reach an agreement with Brazilian authorities to pay around 100-billion reais ($17.87-billion) for the collapse of a dam in the city of Mariana, said four sources familiar with the discussions.

Three of the sources expect a final agreement to be reached in October.

The amount is more than the 82-billion reais in new resources offered in the companies' last proposal in June to compensate for the 2015 disaster, which caused a wave of toxic tailings that killed 19 people, left hundreds homeless, flooded forests and polluted a river.

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Edited by Reuters

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