COMPENSATION (LAW) – BRAZIL

BHP expects $79b in Brazil claims to fall

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Original article by Peter Ker
The Australian Financial Review – Page: 13 & 18 : 22-Sep-16

The 2015-16 annual report of BHP Billiton shows that the five biggest legal claims arising from the Samarco tailings dam disaster in Brazil total 194.5 billion real ($A79.04bn). Project operator Samarco is the subject of more than 23,000 claims for damages and compensation, and joint venture partners BHP and Vale will be liable for any payouts that cannot be financed by Samarco itself. BHP anticipates that the final cost of compensation payouts will be much lower than the value of the claims that have been received to date.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, SAMARCO MINERACAO SA, VALE SA

BHP surges on dam compo deal

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Original article by Barry FitzGerald
The Australian – Page: 19 & 20 : 4-Mar-16

Shares in BHP Billiton closed 3.1 per cent higher at $A17.25 on 3 March 2016. The stock rallied after its Samarco iron ore joint venture secured an agreement with the Brazilian Government and two state governments regarding compensation and remediation work following the November 2015 tailings dam disaster. The deal could potentially allow the Samarco joint venture with Vale to resume production in 2017.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, VALE SA, SAMARCO MINERACAO SA, SHAW AND PARTNERS LIMITED

BHP begins payout plan for Brazil mine victims

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Original article by Barry FitzGerald
The Australian – Page: 16 : 5-Jan-16

Samarco has commenced paying compensation to the families of victims of the iron ore tailings dam disaster in Brazil, and families that have had to be relocated. Samarco, which is jointly owned by BHP Billiton and Vale, has accepted legal liability for the disaster and the resulting compensation claims. However, a Brazilian court has ruled that BHP and Vale must also bear responsibility for environmental remediation.

CORPORATES
SAMARCO MINERACAO SA, BHP BILLITON LIMITED – ASX BHP, VALE SA