Brazil Dam Burst: After Agreement, Samarco Will Initially Pay R$ 1 Billion to Cover Emergency Expenses
The mining company Samarco, responsible for the dam that burst in Mariana (Minas Gerais) on November 5, signed on Monday (16) a preliminary commitment with State and Federal prosecutors that sets a US$ 262 million (R$ 1 billion) deposit to cover costs of emergency measures and restoration of the damage caused by the mudslide.
Samarco’s iron ore tailing dam that belongs to Brazil’s Vale and Australian BHP caused destruction in neighbouring communities and polluted the Doce River, affecting at least nine municipalities. Read more.
Note: The Brazilian government owns 50% of Vale do Rio Doce! This is the world´s largest accident of its kind.