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  • Writer's pictureBy The Financial District

Mining Giants Told To Pay $9.7-B Over Brazil Dam Disaster

A federal judge in Brazil has ordered mining giants BHP, Vale, and their Samarco iron ore joint venture to pay 47.6 billion reais ($9.67 billion) in damages over a deadly dam burst in 2015, according to Peter Hoskins' report for BBC News.


The collapse of the Fundão dam caused a giant mudslide that killed 19 people and polluted the Rio Doce River, compromising the waterway to its outlet in the Atlantic Ocean.



The collapse of the Fundão dam caused a giant mudslide that killed 19 people and polluted the Rio Doce River, compromising the waterway to its outlet in the Atlantic Ocean.


The ruling holds the companies liable for "moral damages" and mandates the funds to be placed into a state fund for projects and initiatives in the impacted area.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

Vale stated that as of December last year, the Renova Foundation has paid out 34.7 billion reais in compensation. The ruling allows for companies to appeal.


The disaster, considered one of Brazil's worst environmental disasters, displaced 700 people. BHP and Vale also face a class-action lawsuit in the UK with over 700,000 claimants. Another tailings dam collapse owned by Vale occurred in January 2019 in the same state, resulting in 270 deaths.




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