Brazil Seals Historic $29.85 Billion Deal for Mariana Dam Disaster Compensation

Brazil has finalized a $29.85 billion compensation agreement with BHP, Vale, and Samarco for the 2015 Mariana dam collapse, which killed 19 and severely affected the environment. The agreement aims to provide justice to victims through financial and environmental reparations, concluding several lawsuits against the mining companies.

In a landmark move, Brazil has signed a substantial $29.85 billion compensation agreement with mining giants BHP, Vale, and Samarco to address the 2015 Mariana dam disaster, one of the worst environmental catastrophes in the country's history.

The collapse of the dam, situated at an iron ore mine owned by Samarco, a joint venture between Vale and BHP near Mariana in southeastern Brazil, resulted in the death of 19 individuals, displacement of hundreds, and widespread environmental damage, including pollution of the Doce River.

This agreement, signed with the presence of Brazilian President Luiz Inacio Lula da Silva, outlines compensation and reparation responsibilities, aiming to provide justice and enable economic recovery for affected regions and communities.

(With inputs from agencies.)