Articles for tag: BHP, deal, disaster, Mariana, Samarco, seek, Vale

April 24, 2024

Ron Finklestien

mining

Vale, BHP, and Samarco seek new deal on Mariana disaster

The collapse of the dam in Mariana left 19 dead when approximately 40 million cubic meters of mining waste destroyed communities and contaminated the Doce River.  It was the biggest environmental disaster ever in Brazil. Negotiations for reparation for the environmental disaster resumed this week after the Brazilian government and the states rejected the value of R$40 billion ($7.75 billion) offered by the companies in December. The government and the states are demanding approximately R$120 billion ($23.3 billion). To this day, none of the 12 lawsuits regarding the disaster have been judged. According to the Federal Public Prosecutor’s Office (MPF), the

January 25, 2024

Ron Finklestien

mining

Legal Ruling Requires Vale, BHP, and Samarco to Pay $9.7 Billion in Damages Legal Ruling Requires Vale, BHP, and Samarco to Pay $9.7 Billion in Damages

Reparation and Cleanup Efforts Vale and BHP’s Samarco, which had been closed for five years, were focused on reparations, compensations, and clean-up efforts during that timeframe. Following several lawsuits and site inspections, the miner reopened Mariana Complex in December 2020 after ensuring its safety. Challenges and Shortcomings Brazilian prosecutors revealed that the Renova Foundation, established by the mining companies for damage reparation, failed to fulfill its commitments, creating additional challenges. Samarco announced the development of an enhanced security system in 2020, incorporating a monitoring and inspection center.