Last checked at 21 Nov 2017 07:00
NEWS RELEASE
Release Time | IMMEDIATE |
Date | 21 November 2017 |
Location | Melbourne |
Release Number | 35/17 |
SAMARCO UPDATE
Samarco Mineração S.A. (Samarco) and its shareholders, Vale S.A. (Vale) and BHP Billiton Brasil Ltda (BHP Brasil), have entered into an agreement (Amendment Agreement) with the Federal Prosecutors' Office in Brazil (Federal Prosecutors) and the Minas Gerais State Prosecutors Office (State Prosecutors). The Amendment Agreement amends the preliminary agreement entered into on 18 January 2017 in relation to the Samarco dam failure (Preliminary Agreement).
The Preliminary Agreement outlines the process and timeline for negotiation of a settlement of the BRL 155 billion (approximately US$47.6 billion) and BRL 20 billion Public Civil Claims (approximately US$6.1 billion) relating to the dam failure (Public Civil Claims). It also provides for the appointment of various experts to advise the Federal Prosecutors.
The Preliminary Agreement suspends a BRL 1.2 billion (approximately US$0.4 billion) injunction order under the BRL 20 billion Public Civil Claim and requests suspension of that claim, with a decision pending. The BRL 155 billion Public Civil Claim is also suspended, including the BRL 7.7 billion (approximately US$2.4 billion) injunction requested by the Federal Prosecutors. Under the Preliminary Agreement, Samarco, Vale and BHP Brasil have provided interim security to the Court.
The Amendment Agreement provides for the State Prosecutors to become a party to the Preliminary Agreement. It also provides for additional community consultation. The Amendment Agreement includes a process for seeking to agree new socioeconomic experts to advise the Federal Prosecutors, and contains some further requirements as to how those experts would conduct their work.
The Amendment Agreement is subject to ratification by the 12th Federal Court.
Samarco, Vale, BHP Brasil and the Federal Prosecutors have also jointly requested, and the 12th Federal Court has approved, an additional 150 days, ending on 20 April 2018, for the parties to continue negotiations for the settlement of the Public Civil Claims.
During the 150 day extension period, the interim security arrangements provided to the 12th Federal Court and the current suspension of legal proceedings and injunctions under the Preliminary Agreement will remain in place.
Further information on BHP can be found at: bhp.com
Media Relations
Email: media.relations@bhpbilliton.com | Investor Relations
Email: investor.relations@bhpbilliton.com | |
Australia and Asia
Ben Pratt Tel: +61 3 9609 3672 Mobile: +61 419 968 734
United Kingdom and South Africa
Neil Burrows Tel: +44 20 7802 7484 Mobile: +44 7786 661 683
North America
Judy Dane Tel: +1 713 961 8283 Mobile: +1 713 299 5342 | Australia and Asia
Tara Dines Tel: +61 3 9609 2222 Mobile: +61 499 249 005
United Kingdom and South Africa
Rob Clifford Tel: +44 20 7802 4131 Mobile: +44 7788 308 844
Americas
James Wear Tel: +1 713 993 3737 Mobile: +1 347 882 3011 | |
| ||
BHP Billiton Limited ABN 49 004 028 077 LEI WZE1WSENV6JSZFK0JC28 Registered in Australia Registered Office: Level 18, 171 Collins Street Melbourne Victoria 3000 Australia Tel +61 1300 55 4757 Fax +61 3 9609 3015 | BHP Billiton Plc Registration number 3196209 LEI 549300C116EOWV835768 Registered in England and Wales Registered Office: Nova South, 160 Victoria Street London SW1E 5LB United Kingdom Tel +44 20 7802 4000 Fax +44 20 7802 4111 | |
Members of the BHP Group which is headquartered in Australia Follow us on social media | ||