BHP Group Settles $29.93 Billion Reparation for Brazil's Dam Collapse

BHP Group has finalized a R$170 billion settlement with Brazilian Public Authorities for the 2015 Samarco dam collapse. This catastrophic event in Mariana led to 19 fatalities and severe pollution of the Rio Doce river. The agreement aligns with BHP's 2024 financial provisions.

On Friday, miner BHP Group announced a significant breakthrough: a R$170 billion ($29.93 billion) final settlement with Brazilian authorities for reparations related to the 2015 Samarco dam disaster.

This incident, which occurred in Mariana, unleashed a devastating mudslide that resulted in 19 fatalities and a serious pollution crisis in the Rio Doce river. The settlement aligns with BHP's fiscal provisions for 2024.

A February ruling by a Brazilian federal judge had set damages at up to 47.6 billion reais for BHP and its joint venture partners, including Vale and Samarco. Although the decision is still open to appeal, the current agreement finalizes BHP's financial obligations.

(With inputs from agencies.)