MINE ACCIDENTS – BRAZIL

$70bn class action case against BHP opens in London

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Original article by Hans van Leeuwen
The Australian Financial Review – Page: 19 : 23-Oct-24

Britain’s High Court has commenced hearing a massive class action lawsuit against BHP over the Samarco iron ore tailings dam collapse in 2015. Law firm Pogust Goodhead is representing about 62,000 Brazilians in the class action. BHP and Vale jointly owned Samarco, which operated the Germano iron ore mine; a key issue that will be addressed during the first days of the hearing is whether Samarco was an independent and autonomous company, or whether BHP was effectively in control of the iron ore project and is therefore responsible for the tragedy that resulted in 19 deaths and an environmental disaster.

CORPORATES
BHP GROUP LIMITED – ASX BHP, VALE SA, SAMARCO MINERACAO SA, POGUST GOODHEAD, HIGH COURT OF ENGLAND AND WALES

Push for BHP boss to give evidence in Brazil dam disaster

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Original article by Simon Johanson
The Age – Page: Online : 17-May-23

The class action against BHP over the Samarco tailings dam collapse in 2015 is slated to be heard by the UK’s High Court in October 2024. The class action is being led by British law firm Pogust Goodhead; global managing partner Tom Goodhead says the firm wants senior BHP executives to give evidence if the case proceeds to trial, potentially including current CEO Mike Henry. He adds that the firm wants BHP to "do the right thing" and attempt to reach a settlement in the case, more than seven years after the disaster that claimed 19 lives and caused an environmental catastrophe.

CORPORATES
BHP GROUP LIMITED – ASX BHP, POGUST GOODHEAD, HIGH COURT OF ENGLAND AND WALES, SAMARCO MINERACAO SA

London judges backtrack to revive $9.43-billion Brazil dam lawsuit against mining giant BHP

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Original article by
abc.net.au – Page: Online : 28-Jul-21

BHP faces renewed legal action over the collapse of the Samarco iron ore tailings dam in Brazil in 2015, after London’s Court of Appeal ruled that a $9.4bn lawsuit can proceed. A lower court had struck it out the lawsuit by 200,000 claimants in 2020, ruling that the UK legal action was an abuse of process. The Court of Appeal had upheld this ruling in March. BHP has contended that the case should not proceed in the UK as the tailings dam disaster is also subject to legal action in Brazil.

CORPORATES
BHP GROUP LIMITED – ASX BHP, COURT OF APPEAL (GREAT BRITAIN), SAMARCO MINERACAO SA

BHP seeks delay in Brazil class action case

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Original article by Liz Main
The Australian Financial Review – Page: 21 : 27-Nov-19

BHP has asked the Federal Court to postpone a shareholder class action until criminal charges against past and present executives are resolved. Brazilian prosecutors charged eight BHP executives with a range of offences – including intentional homicide – in the wake of the Samarco iron ore tailings dam disaster in 2015. Shareholders subsequently launched a class action against BHP to recover the loss in value of their shares following the disaster. The outcome of the criminal charges is unlikely to be known for at least two years.

CORPORATES
BHP GROUP LIMITED – ASX BHP, SAMARCO MINERACAO SA, FEDERAL COURT OF AUSTRALIA, VALE SA

Dam disaster fuels surge in iron ore price

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Original article by Perry Williams
The Australian – Page: 17 & 20 : 31-Jan-19

Goldman Sachs has upgraded its 2019 forecast for iron ore after the price of the steel input rose 4.4 per cent to $US78.50 ($109) a tonne in response to another tailings dam disaster in Brazil. Goldman Sachs now has a price forecast of $US65 per tonne, compared with $US60 previously. The federal government’s mid-year budget update had forecast that the iron ore price would average $US55 per tonne in 2019. Vale has indicated that its annual iron ore production could be cut by up to 40 million tonnes due to the dam collapse. This would equate to about 10 per cent of its annual output.

CORPORATES
VALE SA, THE GOLDMAN SACHS GROUP INCORPORATED, BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, SHAW AND PARTNERS LIMITED, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, MACQUARIE GROUP LIMITED – ASX MQG, TUV SUD

BHP class action down to one

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Original article by Ben Butler
The Australian – Page: 15 : 19-Dec-18

The Federal Court has ruled that Phi Finney McDonald’s class action against BHP over the Samarco tailings dam disaster in Brazil can proceed. Rival law firms Maurice Blackburn and Johnson Winter & Slattery had also proposed class actions against the resources group, but Justice Mark Moshinsky expressed a preference for Phi Finney McDonald’s funding model. He also noted that the firm’s case was more advanced in terms of preparation.

CORPORATES
BHP GROUP LIMITED – ASX BHP, PHI FINNEY McDONALD PTY LTD, MAURICE BLACKBURN PTY LTD, FEDERAL COURT OF AUSTRALIA, VALE SA, G&E KTMC FUNDING, HARBOUR FUND IV, ROBBINS GELLER RUDMAN AND DOWD LLP, LOS ANGELES COUNTY EMPLOYEES’ RETIREMENT ASSOCIATION

BHP faces new dam burst case

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Original article by Ben Butler, Matt Chambers
The Australian – Page: 17 & 20 : 4-Oct-18

Law firm Johnson Winter & Slattery has filed a class action against BHP Billiton on behalf of the Los Angeles County Employees Retirement Association. The US pension fund alleges that the value of its stake in BHP fell sharply after the miner’s shares were heavily sold down in the wake of the Samarco iron ore tailings dam collapse in November 2015. BHP is already subject to two Australian lawsuits over the disaster. Meanwhile, prosecutors in Brazil’s state of Minas Gerais are believed to be poised to announce the settlement of a civil claim against BHP and Vale.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, LOS ANGELES COUNTY EMPLOYEES’ RETIREMENT ASSOCIATION, JOHNSON WINTER AND SLATTERY, VALE SA, MAURICE BLACKBURN PTY LTD, PHI FINNEY McDONALD PTY LTD, FEDERAL COURT OF AUSTRALIA, SAMARCO MINERACAO SA

Lawyers sniff a settlement out of BHP

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Original article by Peter Ker
The Australian Financial Review – Page: 22 : 10-Aug-18

BHP Billiton has agreed to settle a class action launched by US shareholders over losses arising from the Samarco iron ore tailings dam collapse in Brazil. BHP has offered to pay $US50m ($67.2m) in compensation to settle the case, although it will not admit any liability for the disaster. Brett Spiegel of Australian law firm Phi Finney McDonald says its class action is based on similar underlying issues, adding that the US settlement has vindicated his firm’s contention that BHP had misled investors and failed to comply with disclosure requirements.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, SAMARCO MINERACAO SA, PHI FINNEY McDONALD PTY LTD, FEDERAL COURT OF AUSTRALIA, MAURICE BLACKBURN PTY LTD, HERBERT SMITH FREEHILLS PTY LTD

More join BHP Samarco class action

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Original article by Peter Ker
The Australian Financial Review – Page: 17 : 23-Jul-18

More than 3,000 investors have agreed to participate in Phi Finney McDonald’s class action against BHP Billiton. They will seek damages for losses they incurred as a result of the Samarco iron ore tailings dam disaster in Brazil. The class action includes investors in BHP’s shares listed in Australia, the UK and South Africa. The class action will contend that BHP was aware of technical problems at Samarco and knew that there was a risk that the dam would collapse.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, PHI FINNEY McDONALD PTY LTD, VALE SA, SAMARCO MINERACAO SA, FEDERAL COURT OF AUSTRALIA, BOART LONGYEAR LIMITED – ASX BLY, TIMBERWEST FOREST LIMITED

BHP in $7bn deal on Brazil disaster

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Original article by Matt Chambers
The Australian – Page: 22 : 27-Jun-18

BHP Billiton has agreed to an uncapped settlement with Brazilian prosecutors regarding a damages claim arising from the tailings dam collapse at the Samarco iron ore mine in 2015. The agreement has fully settled the initial damages claim of 20 billion Brazilian real against BHP and joint venture partner Vale, while a civil claim for 155 billion real has been suspended for two years. Tyler Broda of RBC Capital Markets says the settlement should eventually allow production at Samarco to resume.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, SAMARCO MINERACAO SA, VALE SA, RBC CAPITAL MARKETS, BP PLC