BHP Billiton’s shares were smashed again today following a mine disaster in Brazil which has left as many as 29 dead.
Shares in the world’s biggest miner have lost more than 8% in value since a waste water dam failure last week.
They closed today at $21.42, down 5.6% on Friday’s close.
Andrew Mackenzie, BHP’s CEO, will go to Brazil later this week to better understand the human, environmental and operational impact. BHP and Vale hold 50% each in the Samarco iron ore operation in Minas Gerais.
The number of those killed has yet to be confirmed.
Witnesses said a wall of mud hit the village of Bento Rodrigues after a breach in dams holding waste water.
“Details are still emerging in relation to the Samarco employees and contractors impacted by the incident,” BHP told the ASX today.
“At this stage, Samarco has advised that there is at least one confirmed fatality with a further 13 members of the work force missing.
“The number of people in the communities impacted by the incident is yet to be confirmed, but the local authorities have reported that, at this stage there are at least 15 people from the communities unaccounted for.”
BHP is reviewing its iron ore production guidance for the 2016 financial year following the accident.
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