Brazil Rejects Vale, BHP's $25.7 Billion Offer for 2015 Disaster That Killed 19

May 3, 2024, 04:24 PM

Mining giants Vale and BHP, along with their joint venture Samarco and BHP's Brazilian subsidiary, proposed a settlement of approximately $25 billion to $26 billion to the Brazilian authorities for the 2015 Mariana tailings dam disaster, which killed 19 people and caused significant environmental damage. The Brazilian government and the state of Espirito Santo have rejected the settlement offer, which was about $25.7 billion in total compensation. The compensation claims for some affected parties could reach up to $25 million.