A Brazilian judge sentenced Vale (NYSE: VALE) and BHP (ASX:BHP) and their joint-venture Samarco to pay 47.6 billion reais ($9.67 billion) in damage repairs over a burst tailings dam in 2015, according to a legal decision on Thursday seen by Reuters.
The Samarco Fundão dam burst in November 2015 releasing 39.2 million cubic meters of tailings waste into the Rio Doce Basin, killing 19 people. It was Brazil’s worst environmental disaster. In 2015, the year of the tragedy, the company produced 25 million tonnes of iron ore.
Samarco, a joint venture between BHP and Vale (NYSE: VALE), was shuttered for five years. During that time, BHP and Vale focused on reparations, compensations, and clean-up efforts.
They also faced several lawsuits and site inspections until the miner was ready to safely reopen Mariana Complex in December 2020.
Brazilian prosecutors said that year that the Renova Foundation, created by the miners for the reparation of the damages did not deliver on any of its promises.
Samarco said in 2020 that it had developed a new security system, which includes a monitoring and inspection center.
Source: MINING.COM – Read More
