BHP has signed a deal which settles a $AU7 billion civil claim for the Samarco fatal mine disaster in Brazil. A final payout isn’t known but this settlement has a framework for the payment of compensation and remediation work. A claim of $AU55.3 billion by federal prosecutors has been suspended […]
BHP says mining at the Samarco iron ore mine in Brazil, the site of a fatal accident last year, could restart next year. The 50/50 joint venture mine with Vale has submitted licencing applications to relevant authorities for a restart of operations at reduced capacity. BHP, in an update, says […]
BHP Billiton today approved a further US$181 million (AU$244 million) for remedial work following the fatal disaster at its joint venture mine in Brazil a year ago. The amount is part of $US1.2 billion already foreshadowed by the big miner. The Samarco iron ore mine’s tailings dam collapsed in November […]
The lessons learned from the fatal mine disaster at Samarco in Brazil will be used by BHP to create a new global tailings dam standard. The iron ore mine’s tailings dam collapsed on November 5, 2015, sending a wave of mud downstream, killing 19 people, including five from a village […]
Brazilan prosecutors said overnight they have charged 21 people over their roles in the collapse of the Samarco tailings dam that killed 19 people in 2015. Reuters reports prosecutors told a press conference in Belo Horizonte that executives of the company, owned by Vale and BHP Billiton, knew that the […]
BHP Billiton announced a provision of between $US1.1 billion and $US1.3 billion to fund work at the Samarco iron ore mine in Brazil, the site of a fatal disaster in November. This is a half share of agreed cleanup costs and reflects uncertainty on the timing of a restart of […]
BHP expects more write-downs, mainly in its coal business, to cut between $US75 million to $US150 million from underlying profit in the 2016 half year. Redundancy costs will shave another $US25 million to $US75 million as the big miner relentlessly seeks efficiencies to bring down overheads in a lowprice commodity […]
Fitch Ratings today issued a warning about the debt held by BHP’s joint venture Samarco mine in Brazil, now in shutdown because of November’s fatal disaster. The agency says Samarco, 50/50 owned by BHP and Vale, will likely run out of cash this year. Fitch downgraded the debt ratings of […]
BHP Billiton, fighting an $8 billion civil suit in Brazil, is making progress cleaning up the damage left by a massive wall of mud during the fatal Samarco mine disaster. The iron ore mine’s tailings dam collapsed on November 5, sending a wave of mud downstream, killing 17 people, including […]
The deal between Brazilian authorities and BHP Billiton and partner Vale to clean up the environmental mess from the fatal mine disaster last year has fallen apart. The Federal Court of Appeal in Brasilia ratified the deal in May. However, the Federal Prosecutors’ Office has just won an appeal against […]
BHP Billiton shares are down 4% today after police accused three companies and eight mine employees of crimes connected to the fatal disaster in Brazil. A short time ago, the shares were at $18.78, down 4.2%. BHP’s Samarco mine, a 50/50 joint venture with Vale, is accused of wilful misconduct […]
BHP Billiton’s joint venture mine in Brazil, where a tailings dam collapsed in November leaving 19 dead, could be producing iron ore again within 12 months. Roberto Carvalho, the CEO of the Samarco mine, owned by Brazil’s Vale and BHP, expects production to restart by the fourth quarter. “All our […]
Moody’s has downgraded BHP Billion’s credit rating, dropping the global mining giant two notches to A3 from A1. The ratings agency also placed the miner on watch negative, indicating that there is a further risk of an additional downgrade. A3 is the seventh highest level of creditworthiness on Moody’s ratings […]
A joint venture between mining giants BHP...
The costs to BHP of the fatal mine disaster in Brazil are becoming clearer. A waste dam burst its banks in November, sending a wave of mud downstream, killing 17 people, including five from a village of 12 working at the mine. Two people who were working on the dams […]
A Brazilian court has ordered BHP Billiton and...