brazil prosecutors sue bhp vale for us43bn
Last Updated : GMT 11:25:12
Arab Today, arab today
Arab Today, arab today

Over mine tragedy

Brazil prosecutors sue BHP, Vale for US$43bn

Arab Today, arab today

Arab Today, arab today Brazil prosecutors sue BHP, Vale for US$43bn

Brazilian prosecutors have filed a US$43.4 billion lawsuit against mining giants BHP Billiton
Sao Paulo - Arab Today

Brazilian prosecutors have filed a US$43.4 billion lawsuit against BHP Billiton and Vale over the Samarco mine dam burst that killed 19 and wreaked environmental havoc.

The authorities "estimate the preliminary value for repairs to be 155 billion reals," the public prosecutor's office in the state of Minas Gerais said in a statement. 

The announcement sent BHP's share price plummeting 9.36 percent to close at Aus$18.79 in Sydney, with a fall in iron ore prices adding to the selling pressure.

Brazilian-owned Vale and Anglo-Australian BHP, which co-own the Samarco iron ore facility, had already agreed to a separate settlement of US$6.2 billion with the Brazilian government in March.

Those funds were ordered to go toward compensating for social and environmental damages and to be paid over 15 years.
But the deal was criticized by prosecutors, who said that the amount of money was not calculated realistically.

The accident on November 5 last year near Mariana in Minas Gerais began when a tailings dam at Samarco's mine failed, unleashing the flood of polluted water and mud into the River Doce, one of the most important in Brazil.

A village was destroyed, drinking water supplies for hundreds of thousands of people were interrupted and damage reached as far as the river's mouth on the Atlantic coast, with wildlife, tourism businesses and fishing communities all suffering.

In February, police announced homicide charges against seven people, including six Samarco executives -- one of them the chief executive at the time of the accident.

- Historic disaster -

Paulo Hartung, governor of Espirito Santo state, which also straddles the River Doce, has said the toxic flood marked "the biggest environmental disaster in the history of Brazil."
The civil suit filed Tuesday called on Samarco's co-owners to "completely" compensate for the disaster.

Prosecutors said they calculated the US$43 billion figure based on charges faced by BP after the Deepwater Horizon oil spill in the Gulf of Mexico in 2010.

BHP said in a statement to the market the lawsuit filed Tuesday was for "social, environmental and economic compensation."

"BHP Billiton remains committed to helping Samarco to rebuild the community and restore the environment affected by the failure of the dam," BHP said, adding that it was still awaiting formal notice of the claim.

Vale had no immediate response.

Referring to the previous settlement reached with the Brazilian authorities, BHP said that this ensured "the long-term remedial and compensation framework for responding to the impact of the Samarco tragedy and the appropriate platform for the parties to work together."

At the time, Brazilian President Dilma Rousseff had said the deal would help heal "a tragedy without precedent."

However, she'd warned of more costs for BHP and Vale. 

"There will be complete restoration of socio-economic conditions and of the affected environment. And I want to emphasize: There will be no financial limits until there is full reparation," she said. 

Prosecutor Jose Adercio Leite Sampaio was among those who immediately criticized that settlement, saying: "Where did they get this number? For us, it's a magic number... It could be 23 or 24, 30, 40 billion."

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

brazil prosecutors sue bhp vale for us43bn brazil prosecutors sue bhp vale for us43bn

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

brazil prosecutors sue bhp vale for us43bn brazil prosecutors sue bhp vale for us43bn

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Air China suspends flights to North Korea

GMT 10:39 2017 Thursday ,23 November

Air China suspends flights to North Korea
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria opposition meets in Riyadh

GMT 06:23 2017 Thursday ,23 November

Syria opposition meets in Riyadh
Arab Today, arab today 'Advanced' cyber attack targets Saudi Arabia

GMT 10:18 2017 Wednesday ,22 November

'Advanced' cyber attack targets Saudi Arabia
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Srebrenica women cry tears of joy

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today Singer Jahda Wahba has unlimited ambitions

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 10:43 2017 Wednesday ,22 November

Cigar-shaped asteroid came

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday