Brazil Signs Landmark Reparation Deal Over 2015 Dam Collapse

Brazil finalizes a significant reparation deal with mining companies Vale, BHP, and Samarco over the 2015 Mariana dam collapse, totaling 170 billion reais. The agreement, signed in a ceremony attended by President Lula, aims to conclude ongoing court actions related to the disaster.

Brazilian authorities are set to finalize a historic reparation deal with mining companies Vale, BHP, and Samarco following the 2015 Mariana dam collapse. The presidential office announced on Wednesday that the agreement is scheduled to be signed on Friday in the presence of President Luiz Inacio Lula da Silva.

The agreement, expected to include a total compensation of 170 billion reais ($29.9 billion), stipulates that 100 billion reais will be allocated over 20 years directly to public authorities. The collapse, which occurred at a Samarco-owned iron ore mine, resulted in grave environmental and human impacts, including the loss of 19 lives.

This accord marks the end of years-long negotiations aimed at resolving various court cases related to the tragedy. The involved companies hope the deal will bring closure to the legal proceedings while addressing the catastrophic aftermath of the disaster.

(With inputs from agencies.)