Brazil to File $5.3 Billion Suit Against Samarco, Owners in Dam Collapse
November 27 2015 - 3:07PM
Dow Jones News
By Paul Kiernan
RIO DE JANEIRO--Brazil's government plans to sue mining giants
Vale SA, BHP Billiton Ltd. and their joint venture Samarco
Mineração SA for 20 billion Brazilian reais ($5.3 billion) in
response to a catastrophic dam failure earlier this month,
officials said on Friday.
The civil suit was expected to be filed Monday, a spokeswoman
for the Environment Ministry said. The proceeds are intended to
create a fund to help recovery efforts in the Rio Doce, a major
river that was contaminated with mud and toxic metals in the wake
of the Nov. 5 collapse of Samarco's dam in Minas Gerais state.
Write to Paul Kiernan at paul.kiernan@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 27, 2015 15:52 ET (20:52 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
Vale (NYSE:VALE)
Historical Stock Chart
From Apr 2024 to May 2024
Vale (NYSE:VALE)
Historical Stock Chart
From May 2023 to May 2024