abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthC4067174-3DD9-4B9E-AD64-284FDAAE6338@1xinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapeline, chart, up, arrow, graphLinkedInlocationmap-pinminusnewsorganisationotheroverviewpluspreviewArtboard 185profilerefreshIconnewssearchsecurityPathStock downStock steadyStock uptagticktooltiptwitteruniversalityweb

2 Mar 2016

Shasta Darlington, CNN Money (USA)

Brazil: $6 billion settlement reached in Brazil mining disaster

See all tags

...On Wednesday, Samarco agreed to pay 4.4 billion reais over the next three years for clean-up. Then, between 2019 to 2031, it will make annual payments of approximately 1.2 billion reais, and could reach 20 billion reais in the period, according to a statement issued by President Dilma Rousseff's office...In a statement, BHP Billiton Chief Executive Officer, Andrew Mackenzie said the agreement showed their commitment.  "This agreement is an important step forward in supporting the long-term recovery of the communities and environment affected by the Samarco dam failure," he said. But there could also be criminal charges. At the end of last month, police accused the chief executive of Samarco and six others of homicide over the collapsed dam. A court is weighing whether to file criminal charges.

Part of the following timelines

Brazil: Samarco agrees to pay $6 billion settlement over dam burst; prosecutors criticise settlement saying it favours the company

BHP & Vale lawsuit (re dam collapse in Brazil, filed in Brazil)