The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBHP Group Share News (BHP)

Share Price Information for BHP Group (BHP)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 2,329.00
Bid: 2,331.00
Ask: 2,332.00
Change: 0.00 (0.00%)
Spread: 1.00 (0.043%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 2,329.00
BHP Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Huge Claim Against BHP Over Brazil Dam Collapse Rejected By High Court

Tue, 10th Nov 2020 06:19

(Alliance News) - A GBP5 billion claim, thought to be one of the largest in English legal history, brought by more than 200,000 claimants against mining giant BHP Group PLC over a deadly dam collapse in Brazil, has been thrown out by the High Court.

The failure of the Fundao dam, which held waste from an iron ore mine in Minas Gerais state in south-eastern Brazil, killed 19 people and sent more than 40 million cubic metres of toxic waste into the Doce River.

Its collapse in November 2015 led to one of Brazil's worst environmental disasters, contaminating drinking water for hundreds of thousands of people and obliterating entire villages, with pollution eventually found in the Atlantic Ocean more than 400 miles away.

Lawyers representing almost 202,000 Brazilians, as well as hundreds of businesses, two dozen municipal governments and 15 churches, sought to take legal action against BHP over the fatal disaster.

They claimed that BHP was liable for the collapse of the dam, which is owned and operated by Samarco, a joint venture between Brazilian iron ore miner Vale and BHP's Brazilian subsidiary.

But, following a two-week preliminary hearing in July, a High Court judge ruled that the claim was a "clear abuse of process" which should be thrown out of court.

In a judgment published on Monday, Justice Turner said that, because there were ongoing civil proceedings in Brazil over the collapse of the dam, an English judge would be left with a task "akin to trying to build a house of cards in a wind tunnel".

Justice Turner added: "The claimants' tactical decision to progress closely related damages claims in the Brazilian and English jurisdictions simultaneously is an initiative the consequences of which, if unchecked, would foist upon the English courts the largest white elephant in the history of group actions."

In a statement after the ruling, the claimants' lawyers said they were "overwhelmingly confident" Justice Turner's decision would be overturned on appeal.

Tom Goodhead, managing partner at law firm PGMBM, said: "BHP have succeeded, once again, in delaying the provision of full redress for the victims of the worst environmental disaster in Brazilian history.

"BHP's legal chicanery, both in England and in Brazil, has resulted in a fundamentally flawed judgment that we intend to appeal immediately."

He added: "We will continue to fight ceaselessly, for however long it takes, in any court in the world, to ensure that BHP are held accountable for their actions.

"BHP have arrogantly and disgracefully labelled this litigation as 'pointless and wasteful'.

"They have argued in court that full redress is available to the victims in Brazil when that is fundamentally not the case.

"The victims see that. The United Nations sees that. And we have every confidence that the Court of Appeal will see that."

Duarte Junior, the mayor of Mariana, near to where the Fundao dam is located, said: "For five long years we have been frustrated, trying to rebuild our lives and communities in the face of the companies who are responsible for the disaster.

"Compensation so far has been completely inadequate and every day we still live with the effects of what happened.

"This case represents the hopes and the rights of every individual in Mariana and beyond.

"BHP did not respect our rights in Brazil. This case in England should force them to acknowledge our rights now."

A BHP spokesman said the decision was "a strong endorsement of our position that these proceedings were unnecessary because they duplicated matters already covered by the existing and ongoing work of the Renova Foundation", which BHP set up with Vale in 2016 to repair and compensate for the damage caused by the collapse of the dam.

source: PA

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
7 Jun 2022 12:14

Jefferies upgrades Anglo American, BHP, Rio Tinto

(Sharecast News) - Jefferies upgraded its stance on shares of Anglo American, BHP and Rio Tinto on Tuesday and lifted its iron and coal price forecasts as it took a look at the mining sector, arguing that it was undervalued and poised to recover.

Read more
1 Jun 2022 07:46

TOP NEWS: BHP wraps up Woodside merger, pays in specie dividend

(Alliance News) - BHP Group Ltd on Wednesday confirmed it had formally completed the all-share merger of its petroleum business with Woodside Petroleum Ltd, the Perth, Australia-based oil and gas company.

Read more
31 May 2022 10:11

Deutsche Bank lowers target price on BHP

(Sharecast News) - Analysts at Deutsche Bank lowered their target price on mining giant BHP from 2,400.0p to 2,250.0p on Tuesday following the group's recent petroleum exit.

Read more
23 May 2022 17:42

Europe close: Stocks jump led by Basic Resources and Banks

(Sharecast News) - European stocks started the week on the front foot following the very volatile trading conditions seen over the preceding five-day stretch.

Read more
20 May 2022 09:52

TOP NEWS: BHP plans to distribute in specie dividend as part of merger

(Alliance News) - BHP Group Ltd on Friday said its shareholders will receive an in specie dividend in the form of new Woodside Petroleum Ltd shares, following the merger of its oil and gas portfolio with Woodside.

Read more
19 May 2022 11:37

IN BRIEF: Woodside shareholders okay merger with BHP petroleum unit

Woodside Petroleum Ltd - Perth, Australia-based oil and gas explorer - Shareholders approve merger with BHP Ltd's oil and gas business, which is still on track for completion on June 1. Upon completion of the merger, which will create one of the 10 largest independent energy producers in the world, 52% of the new company will be held by Woodside shareholders and 48% by BHP shareholders. The Woodside shareholder approval follows the regulatory green light from Australia's National Offshore Petroleum Titles Administrator earlier this week.

Read more
19 May 2022 09:40

Woodside shareholders approve BHP petroleum merger

(Sharecast News) - Woodside Petroleum shareholders have approved a $41bn all-share merger with BHP's petroleum business.

Read more
16 May 2022 09:59

IN BRIEF: Woodside receives Australian approval for BHP asset merger

Woodside Petroleum Ltd - Perth, Australia-based oil and gas explorer - Receives regulatory approval from Australia's National Offshore Petroleum Titles Administrator for the acquisition of BHP Group Ltd's oil and gas assets. The only remaining condition for the merger is now approval from Woodside shareholders at the company's annual general meeting on Thursday. Completion is still targeted for June 1.

Read more
28 Apr 2022 08:50

TOP NEWS: Glencore quarterly production in line with expectations

(Alliance News) - Glencore PLC said on Thursday its first-quarter production was in line with its expectations, but noted that this performance mirrored a number of "temporary impacts", including geotechnical challenges and Covid-19 absenteeism.

Read more
25 Apr 2022 12:07

LONDON MARKET MIDDAY: Stocks tank as Covid worries spread in China

(Alliance News) - European stock were sharply lower at the start of the week, with Monday's virus-inspired price decline providing an unwelcome reminder of the market sell-off of two years ago, shortly after Covid-19 first emerged.

Read more
21 Apr 2022 08:39

LONDON MARKET OPEN: FTSE 100 left out of Europe rally as miners drag

(Alliance News) - The FTSE 100 in London failed to get off to the positive start seen elsewhere in Europe on Thursday as the index was bogged down by some disappointing production updates from its heavyweight mining sector.

Read more
21 Apr 2022 06:53

TOP NEWS: BHP lowers copper and nickel guidance on Covid-19 setbacks

(Alliance News) - BHP Group Ltd on Thursday cut annual guidance for copper production as well as nickel output, as the miner grapples with Covid-19-related labour market woes.

Read more
8 Apr 2022 09:00

TOP NEWS: BHP says Woodside merger on track for completion in June

(Alliance News) - BHP Group PLC reported on Friday the merger of its oil and gas business with that of Perth-based Woodside Petroleum Ltd was on track for completion on June 1.

Read more
8 Apr 2022 07:44

Independent expert gives Woodside-BHP deal seal of approval

(Sharecast News) - Woodside Petroleum's merger with the petroleum business of BHP Group has been given the seal of approval by an independent expert.

Read more
22 Feb 2022 10:21

Berenberg raises target price on BHP

(Sharecast News) - Analysts at Berenberg raised their target price on mining giant BHP from 2,200.0p to 2,300.0p on Tuesday after the firm's interim results came in better than expectations.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.