Almost three years on from the Samarco disaster, BHP Billiton (BLT) and joint-venture partner Vale have taken a step towards settling civil claims totalling BRL175bn (£34.9bn). This week, the miners, alongside local and Brazilian federal government, agreed to dismiss a BRL20bn claim from the states of Espirito Santo and Minas Gerais, and spend the next two years settling a separate BRL155bn claim.
The governance agreement, which still requires government sign-off, builds upon the establishment of a fund for clean-up costs, remediation and compensation for the tailings dam failure. Community participation in “decisions related to the remediation and compensation” will also be enhanced. In turn, other actions covering the same claims as the larger claim have been dismissed, and all parties have agreed to reach a final settlement for the tailings dam rupture, which killed 19 people, devastated a village of 600 and caused widespread environmental damage.
