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Vale, BHP, Samarco could close $18 billion deal over Brazil dam collapse, sources say

RIO DE JANEIRO (Reuters) -Mining companies Vale and BHP, together with their joint venture Samarco, may soon reach an agreement with Brazilian authorities to pay around 100 billion reais ($17.87 billion) for the collapse of a dam in the city of Mariana, said four sources familiar with the discussions.

Three of the sources expect a final agreement to be reached in October.

© Reuters. FILE PHOTO: The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. REUTERS/Washington Alves/File Photo

The amount is more than the 82 billion reais in new resources offered in the companies’ last proposal in June to compensate for the 2015 disaster, which caused a wave of toxic tailings that killed 19 people, left hundreds homeless, flooded forests and polluted a river.

($1 = 5.5955 reais)

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