https://www.engineeringnews.co.za
Projects|Repairs|Environmental
Projects|Repairs|Environmental
projects|repairs|environmental

Brazil orders Vale, BHP and Samarco to pay $9.7bn in damages for dam disaster

26th January 2024

By: Reuters

  

Font size: - +

SAO PAULO - A Brazilian federal judge ruled that miners Vale and BHP and their joint venture Samarco must pay 47.6-billion reais ($9.67-billion) in damages for a 2015 tailings dam burst, according to a legal decision on Thursday seen by Reuters.

Vale and BHP said in separate statements they were not informed by the judiciary about the decision. Samarco declined to comment.

The dam collapse in the southeastern city of Mariana caused a giant mudslide that killed 19 people and severely polluted the Rio Doce river, compromising the waterway to its outlet in the Atlantic Ocean.

In the decision, judge Vinicius Cobucci wrote that the amount was fixed taking as a parameter the value of expenses already acknowledged by the companies in repair and compensation actions. He added the 47.6-billion reais need to be adjusted by monetary correction and late payment interest.

It was not immediately clear how much of the total stipulated in the sentence each company owes.

The judge wrote in the legal document that the money would be put in a state fund and used for projects and initiatives area affected by the dam collapse.

The companies can appeal the decision.

In the securities filing, Vale said the Renova foundation, which the companies have been using to pay for some of the repairs, had paid until last December 34.7-billion reais in socioeconomic and environmental compensation.

Edited by Reuters

Comments

Showroom

SMS group
SMS group

At SMS group, we have made it our mission to create a carbon-neutral and sustainable metals industry.

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.074 0.127s - 160pq - 2rq
Subscribe Now