BHP and Vale Agree to $30 Billion Settlement for Brazil's 2015 Dam Collapse
The agreement marks a significant step in addressing the aftermath of Brazil's worst environmental disaster, which claimed 19 lives and caused extensive damage.
- The settlement involves a payment of 132 billion reais, equivalent to $30 billion, over 20 years to cover compensation and environmental recovery.
- Brazilian President Luiz Inacio Lula da Silva emphasized the disaster's preventability and criticized the mining companies for prioritizing profits over safety.
- The agreement includes new resources for public authorities and compensation for affected individuals, with a focus on rebuilding communities and ecosystems.
- More than 620,000 complainants are pursuing additional legal action against BHP in the UK, seeking $47 billion in damages, despite the settlement in Brazil.
- The dam collapse released toxic sludge that polluted the Doce River, affecting thousands of people and causing long-term environmental damage.
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