Mining Giants Vale, BHP Propose $25 Bn Settlement Over Brazil Dam Collapse
Muhammad Irfan Published April 29, 2024 | 09:55 PM
Mining giants Vale and BHP have proposed paying a nearly $25 billion settlement over a 2015 dam collapse in Brazil that killed 19 people and flooded dozens of towns, Vale said Monday
Rio de Janeiro, (APP - UrduPoint / Pakistan Point News - 29th Apr, 2024) Mining giants Vale and BHP have proposed paying a nearly $25 billion settlement over a 2015 dam collapse in Brazil that killed 19 people and flooded dozens of towns, Vale said Monday.
The companies proposed a payment of 127 billion reais or nearly $25 billion Dollars to repair damage in one of the country's worst environmental disasters, the Brazilian firm said in a statement.
The amount included more than $7 billion already spent on repairs and compensation, it added.
The tragedy in the southeastern town of Mariana unleashed a torrent of nearly 40 million cubic meters of highly toxic mining waste sludge, killing 19 people, flooding 39 towns and leaving more than 600 people homeless.
The collapsed tailings dam at an iron ore mine was owned by Samarco, a joint venture between Brazil's Vale and the Anglo-Australian miner BHP.
The towns of Bento Rodrigues and Paracatu de Baixo were wiped off the map when the copper-colored iron ore waste roared down the mountainside.
The affected areas remain ghost towns, with thousands of people awaiting some kind of compensation.
Vale and BHP are also facing a class-action lawsuit in the United Kingdom over the incident involving as many as 700,000 victims.
According to a United Nations' assessment shortly after the disaster, the waste from the Fundao tailings dam travelled hundreds of kilometres through the Doce River and its tributaries all the way to the Atlantic Ocean.
The flood killed thousands of animals and devastated protected areas of tropical forest.
Related Topics
Recent Stories
PM arrives in Muzaffarabad on day-long visit
Imran Khan’s photo during SC hearing goes viral
Imran Khan appears before SC via video link in NAB amendment case
IHC registrar office responds to Vawda’s letter
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 16 May 2024
Today Gold Rate in Pakistan 16 May 2024
KP Assembly to pass caretaker govt's budget to fulfill constitutional responsibi ..
No plans for taxation on solar net metering: Power minister
Musadik urges political dialogue to resolve past conflicts
Funerals held for victims of attack on DR Congo camp
Federal govt reduces petrol price by Rs15.39 per litre
CM Bugti announces Rs 50 bln tube-wells solarization project
More Stories From World
-
Climate change could force Bangkok to move, official warns
8 minutes ago -
China to see stable growth in ICT spending amid AI boom: IDC
9 minutes ago -
Easyjet CEO flies out in 2025 after seven years
9 minutes ago -
Netflix to release second season of "3 Body Problem"
9 minutes ago -
New Dutch coalition govt wants 'strictest' asylum policy
29 minutes ago -
Riyadh Deputy Governor attends Norway Embassy National Day Ceremony
29 minutes ago
-
The Greatest, the Baddest and the Best: six undisputed heavyweight champions
39 minutes ago -
Putin says 'grateful' to China for Ukraine peace 'initiatives'
49 minutes ago -
KACST, Almarai Company unveil Almarai Prize for Scientific Creativity strategy & new identity
58 minutes ago -
Siemens to sell electrical motors business to KPS
59 minutes ago -
Slovak PM in 'very serious' condition after assassination attempt
59 minutes ago -
Ukraine says halted Russian 'advance' in some Kharkiv zones
1 hour ago