Brazil states ask court to double Vale, BHP payments for dam burst - Reuters

seekingalpha05-15

Two Brazilian states have asked a court to more than double the amount that Vale (NYSE:VALE), BHP (BHP) and their Samarco joint venture must pay in damages for a 2015 deadly tailings dam failure, ...

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A Brazil federal judge ruled in January that Vale (VALE), BHP (BHP) and the JV must pay 47.6B reais in damages for the disaster in late 2015 at the Samarco iron ore mine that caused a vast flow of mud and toxic mining waste that buried a village and killed 19 people. According to Reuters, the legal document showed Minas Gerais and Espirito Santo states have asked a court to order Vale (VALE) and BHP (BHP) to pay a combined 100B reais (~$19.5B), along with interest plus a late payment penalty. The states argue that a larger payment is needed to repair the affected areas, claiming the companies are able to pay more based on their most recent three years of earnings, the document reportedly said. Earlier this month, the Brazilian government and Espirito Santo state rejected a proposal by Vale (VALE), BHP (BHP) and Samarco that offered to pay a combined 127B reais; Minas Gerais said it wanted to keep negotiating.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.5","shortVersion":"4.22.5","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2435657166"}