Brazil court freezes $130m of Samarco assets

February 22, 2016

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A Brazilian judge blocked 500-million reais ($127-million) of assets of Samarco, a joint venture between Vale and BHP Billiton, to guarantee the clean up and repair of a town hit by a deadly flood caused by a burst tailings dam in November, local prosecutors said on Monday.
In a statement, the Minas Gerais state prosecutors who requested the judicial action said the mudslide had destroyed schools, water and sewage networks, football pitches and public buildings in the town of Barra Longa and surrounding area.

Category: General