BHP Group to review court decision on $31.53 bln Fundao dam claim
Source: Reuters
BHP Group to review court decision on $31.53 bln Fundao dam claim
Reuters
January 26, 2024 2:28 AM EST Updated 5 hours ago
Jan 26 (Reuters) - BHP Group (BHP.AX), opens new tab said on Friday it would review a Brazilian Federal Court decision regarding a 155 billion reais ($31.53 billion) government claim over the 2015 collapse of Fundao dam owned by Samarco, its joint venture with Vale (VALE3.SA), opens new tab.
The company said its unit BHP Brasil had not received a decision from the court, adding that the group would review its implication, potential for an appeal and any potential impact on its provision related to the dam's collapse.
The court has issued an interlocutory decision ordering Vale (VALE3.SA), opens new tab, BHP and Samarco to pay 47.6 billion reais ($9.67 billion) in collective moral damages for the 2015 tailings dam burst that killed 19 people and led to severe pollution of the Rio Doce river.
This is one of the categories of damages sought in the $31.53 billion claim by the Federal Public Prosecution Office.
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Read more: https://www.reuters.com/markets/commodities/bhp-group-review-court-decision-3153-bln-fundao-dam-claim-2024-01-26/
Alternate no-paywall link: https://finance.yahoo.com/news/bhp-group-review-court-decision-075513067.html