Brazil in Talks for $18 Billion Payout From Mining Firms Over 2015 Dam Collapse

Published on September 17, 2024

The Brazilian government confirmed it was in talks on a potential $18 billion payout from three mining firms involved in a deadly 2015 dam collapse, on Monday. The government added that the deal could also involve further repair work by the companies themselves. Earlier this month, Reuters reported that Brazilian mining giant Vale and Australia’s BHP, together with their joint venture Samarco, could soon reach a deal to pay around 100 billion reais ($18.2 billion) in additional funds for repairs, with final terms of the agreement expected in October. Energy and Mining Minister Alexandre Silveira confirmed discussions were underway in a Monday interview with the Brazilian radio broadcaster Itatiaia, which is based in Minas Gerais state, where the toxic spill occurred....

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