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BHP Settles for 170 Billion-Real ($29.93 Billion) Over 2015 Brazil Dam Disaster with Vale
Oct 25, 2024, 02:37 PM
BHP Group has reached a 170 billion-real ($29.93 billion) final settlement with Brazilian public authorities for the reparation of the 2015 Samarco Fundão dam failure. The disaster, which occurred at Vale and BHP’s iron-ore joint venture, is considered Brazil's worst environmental disaster. Despite the settlement, BHP argued at a £36 billion London trial that it was not legally liable to more than 600,000 Brazilians for the disaster, claiming it could not be held vicariously liable for the alleged wrongdoing of its joint venture.
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