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BHP and Vale offer $1.4 billion to settle UK lawsuit over Brazil dam disaster

Published 07/08/2025, 19:58
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Investing.com -- Mining giants BHP Group (NYSE:BHP) and Vale have proposed a settlement of approximately $1.4 billion to resolve a class action lawsuit in the United Kingdom (TADAWUL:4280) related to the 2015 Mariana dam collapse in Brazil, according to a Financial Times report published Thursday.

The settlement offer includes about $800 million in compensation for victims and $600 million to cover legal costs associated with the High Court proceedings.

The proposal was reportedly made during a June meeting in New York with Pogust Goodhead, the British law firm representing the claimants, and their primary financial backer, U.S. hedge fund Gramercy.

The Mariana dam disaster, considered one of Brazil’s worst environmental catastrophes, occurred when a dam owned and operated by the Samarco joint venture between BHP and Vale collapsed. The incident led to legal action from hundreds of thousands of people.

BHP currently faces a London lawsuit that claimants’ lawyers have valued at up to £36 billion ($48.29 billion).

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