Market Chatter: BHP Samarco Disaster Settlement Removes Caveat From Expansion in Brazil, Exec Says

MT Newswires Live12-14

BHP Group (BHP) is looking to expand its operations in Brazil as it moves past the 2015 Samarco dam disaster, Bloomberg reported Friday, citing BHP's new president in Brazil, Emir Calluf.

The settlement over the deadly tailings dam collapse removed the main obstacle from the company's expansion plans in the country, Calluf told Bloomberg in a interview. BHP wants to rebrand in Brazil, not remembered for disaster.

BHP remains committed to its 50% stake in Samarco, which produces high-grade iron ore pellets for steel mills, and has no plans to sell it, the executive said.

BHP is focusing on expanding in copper, iron ore, coal, and potash, evaluating copper mines in the Carajas region, considering partnerships for asset development, and continuing mineral research in Minas Gerais, Bloomberg said.

BHP didn't immediately respond to a request for additional information from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 51.61, Change: -0.84, Percent Change: -1.60

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