BHP is backing a restart of operations at the troubled Samarco Mineração iron ore joint venture (JV) with Vale in Brazil through a significant investment.
Samarco joint venture partners BHP and Vale have received a licence to continue iron ore operations in the state of Minas Gerais in Brazil.
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.
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.
In the wake of ICMM’s announcement of new global tailings facilities standard for its members, BHP, its member company said it had increased the rigour of its management of tailings facilities since the failure of the Samarco dam in 2015.
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.
BHP chief executive officer Andrew Mackenzie says the company will continue to invest in its rail structure in light of Monday’s derailment of a BHP iron ore train in the Pilbara, Western Australia.
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.
BHP has been served a Federal Court of Victoria class action by investors over the 2015 Samarco dam disaster in Brazil.
BHP will commit $US211 million in financial support to the non-profit body set up for the purposes of restoration and remediation of the 2015 Samarco mine dam collapse.
BHP, Vale and their joint-owned subsidiary Samarco have reached a compensatory agreement with the Brazilian Government over the 2015 Bento Rodrigues dam disaster.
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.
BHP and Vale have had a request approved by the Federal Prosecutors’ Office in Brazil to receive an additional 150 days — ending April 20 2018 — to continue negotiations surrounding the public settlement of the Bento Rodrigues dam disaster under the Samarco joint venture.
BHP has conceded it is unlikely that the Samarco iron ore operations in Brazil will restart in 2017.
Tailings dam failures have put environmental risk high on the list for mining companies. Gavin Wilby says there is help for the issues keeping executives up at night.
An Independent Scientific and Technical Advisory Panel will be created this year to support recovery efforts following BHP and Vale’s Samarco mine disaster in Brazil.
A Brazilian bank has filed a class action suit against BHP Billiton and joint venture partner Vale, over $2.2 billion notes used to fund the failed Samarco project.
Vale, BHP Billiton Brazil and Samarco have entered a preliminary agreement with Brazil’s Federal Prosecutors’ Office over remediation fees following the Samarco tailings dam failure.
Brazil’s mines and energy minister Fernando Coelho Filho has suggested a restart of production at Samarco is likely in March.