BHP gets more time at Samarco

The Samarco site in February. Image: BHP.

BHP, with joint venture partners Vale and Samarco, has been granted an additional 66 days to negotiate a settlement over the dam collapse at the Brazilian iron ore operations in 2015.

The incident left 19 people dead and farmlands and towns destroyed. The companies are facing separate claims worth $US47.6 billion ($62 billion) and $US6.1 billion as a result of the damage caused by the incident.

Brazil’s 12th Federal Court has approved the extension for the partners, which were also granted more time for negotiations last November.

BHP, in an ASX announcement, reported that the latest extension would end on June 25 this year.

“Until that time, the interim security arrangements and the current suspension of legal proceedings will remain in place,” BHP stated.

Operations at Samarco have remained suspended since the incident occurred.

To keep up to date with Australian Mining, subscribe to our free email newsletters delivered straight to your inbox. Click here.