BHP and Vale pay out $260m over burst Samarco dam in Brazil

Posted on November 17, 2015 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

Protests at Vale HQ

A protestor washes muddy water over the Vale logo at the entrance to Vale headquarters on November 16, 2015 in Rio de Janeiro, Brazil Photo: 2015 Getty Images

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#BHP Billiton’s #Samarco joint venture has agreed to pay $260m to fund clean-up costs arising from the dam that burst in the #Brazilian state of #MinasGerais on November 5.

#Samarco, which is jointly owned by London-listed, Australia-based BHP, and Brazil’s #Vale, will contribute to an emergency fund that will pay for reconstruction and compensation for the environmental and social effects of the incident.