Vale & BHP close to reaching multibillion-dollar compensation deal with Brazil over deadly 2015 dam collapse
Antonio Cruz/Agência Brasil
"Miners Vale, BHP finalising deal with Brazilian authorities for giant $45b settlement over dam disaster", 19 October 2024
Vale and BHP are a step closer to finalising a deal with Brazilian authorities to pay about $45 billion in damages over the deadly 2015 Samarco dam disaster.
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...Vale said the deal would include $26 billion in compensation to be paid over 20 years to Brazil’s Federal Government, the States of Minas Gerais and Espirito Santo as well as affected municipalities.
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BHP issued a similar statement on ... after Brazilian media reported that a final deal could be signed as soon as October 25.
“The negotiations between the parties are ongoing and no final agreement has been reached on the settlement amount or terms,” the statement released via the New York Stock Exchange said.
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The $45 billion deal, which has yet to be finalised, is a big step up from Vale SA and BHP’s last offer in April — which was of around $33.3 billion.
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