BHP Group Says New Doce River Agreement Improved Execution of Reparations in Brazil

MT Newswires Live11:53

BHP Group (ASX:BHP) said an integrated management and monitoring structure within the New Doce River agreement has improved the execution of reparations in the basin following the 2015 collapse of a Samarco dam, according to a Wednesday statement.

Since its official endorsement in November 2024 and until April this year, the agreement has allocated 42.11 billion Brazilian reais to reparations, with the total amount disbursed since 2015, reaching 80.39 billion reais.

Out of the post-agreement amount, resources were directly distributed via indemnities, financial aid, and emergency measures, and were also directed to socioeconomic projects, infrastructure, and resettlement, the company said.

The new model includes the transition of responsibilities from the now-dissolved Renova Foundation to Samarco, a joint venture between BHP and Vale. BHP said its Brazilian unit continues to support the reparations and the fulfillment of obligations outlined in the new agreement.

BHP shares rose past 1% in recent Wednesday trade.

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