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BHP and Vale Agree to $23 Billion Settlement for 2015 Samarco Dam Disaster

Oct 25, 2024, 04:18 PM

Mining giants BHP Group and Vale have reached a landmark $23 billion settlement with Brazilian authorities over the 2015 Samarco dam collapse, one of the country's worst environmental disasters. The final settlement amounts to R$170 billion ($29.93 billion), which will be paid over 20 years. The disaster, which occurred at the Fundão dam, resulted in the deaths of 19 people and extensive pollution across more than 400 miles of rivers. The settlement includes R$32 billion ($5.8 billion) in additional performance obligations.