Mining giants BHP and Vale have lobbed a $38 billion compensation offer for the 2015 tailings dam disaster at their Samarco iron ore complex, hoping to settle a long-running spat with the Brazilian government. The proposal comes after talks between the Brazilian authorities and Samarco’s 50-50 joint owners seemed at an impasse last year, amid reports of a Brazilian push for more than $60 billion in clean-up and compensation costs.
The talks are back on, but BHP said in a statement to the London Stock Exchange on Monday that “negotiations between the parties are ongoing, and no final agreement has been reached on the settlement amount or terms”. Samarco’s fresh settlement proposal in Brazil totals 127 billion Brazilian rials , which includes R$37 billion already disbursed via the Renova Foundation, a special reparations unit that BHP and Vale set up to deal with the disaster’s aftermath.
Source: Education Headlines (educationheadlines.net)
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