Mining heavyweight BHP said on Aug. 9 the federal court of Minas Gerais approved an agreement with Brazilian authorities that settled a 20 billion reais ($5.30 billion) lawsuit over the 2015 Samarco dam failure.
The company said it had separately agreed to pay $50 million as part of a settlement for a class action complaint filed by American depositary receipt holders over the disaster.
Samarco and parent companies Vale SA and BHP had signed a deal with Brazilian authorities in June regarding the 2015 dam failure.
Brazil’s worst environmental catastrophe killed 19 people. It happened when a dam designed to hold back mine waste burst, leaving a trail of destruction for hundreds of kilometers.
BHP still faces a class action in Australia over the dam failure.
Samarco said on Aug. 8 it expects to obtain all licenses needed to resume operations by next year.
By Ambar Warrick