BHP has been hit with the largest damages claim in British legal history through a group action lawsuit seeking $US5 billion ($7.2 billion) over the 2015 Fundão dam collapse in Brazil.
Brazilian iron ore miner Vale has been granted governmental permission to reopen the Brucutu iron ore mine in the state of Minas Gerais, Brazil.
Vale chief executive officer Fabio Schvartsman has temporarily resigned from his role due to controversy related to the Brumadinho tailings dam disaster in Brazil in January.
OZ Minerals is well placed to execute a major company expansion in South Australia this year with the completion of construction at Carrapateena and the ramp-up of operations at Prominent Hill.
Rio Tinto plans to strengthen how its global portfolio of tailings dams is managed in the wake of Vale’s latest disaster in Brazil.
South32 has highlighted tailings safety in its latest 2019 half-year report, emphasising the company’s dam management standard.
Australian iron ore majors such as Fortescue, BHP and Rio Tinto have all seen a significant boost to their share prices while Brazilian company Vale’s has dropped significantly.
The global iron ore price is expected to temporarily rise above $US100 ($138) per tonne due to fallout from Vale’s recent tailings dam disaster in Brazil, according to Capital Economics.
Iron ore prices have been bolstered by the threat of supply disruptions caused by last week’s tailings dam disaster in Brazil.
A dam disaster in Brazil that left 60 people dead and over 300 missing last Friday has cast a new light on the safety record of iron ore major Vale.
OZ Minerals will focus on a series of major project developments in 2019 after generating $1.1 billion in net revenues and exceeding its production guidance last year.
Brazilian prosecutors in the state of Minas Gerais have released a statement detailing final compensation payments with Vale and BHP over the 2015 Samarco dam disaster.
BHP is to settle a US class action complaint concerning the purchasers of American depositary receipts of BHP in the wake of the Samarco dam disaster in Brazil.
OZ Minerals now owns 100 per cent of Avanco Resources’ shares through its subsidiary OZ Minerals Brazil, as the $418 million acquisition of all Avanco’s outstanding shares has moved into completion.
BHP has been served a Federal Court of Victoria class action by investors over the 2015 Samarco dam disaster in Brazil.
Beadell Resources chief executive and managing director Simon Jackson, along with two directors, has stepped down from his position as the Brazil-focused company tries to improve its operating performance.
OZ Minerals will commence a compulsory takeover of Brazil-focused miner Avanco Resources after acceptances for the deal moved beyond 90 per cent.
BHP, Vale and their joint-owned subsidiary Samarco have reached a compensatory agreement with the Brazilian Government over the 2015 Bento Rodrigues dam disaster.
OZ Minerals this week reached acceptances in its bid for Brazilian copper-gold miner Avanco totalling 73.9 per cent of company shares.
OZ Minerals $418 million takeover bid for Brazil-focused Avanco Resources is a step closer to completion after OZ declared it unconditional.