BHP Billiton and Vale, the mining giants and joint venture partners of Samarco Minerao S.A. have been ordered by a Brazilian court to reserve £330m ($491.5m) of funds currently frozen in assets within Brazil, with potentially 17 more to follow, it was reported today. This is the penalty for their part in Brazil’s worst ever environmental disaster, when one of the company’s dams recently collapsed, causing billions fatalities so far. The partners have also been instructed by the courts to undertake extensive remediation plans to aid the environmental and socio-economic recovery of the area. Recommendations include consultancy evaluations of fish contamination, prevention of waste leakage, implementation of pest control measures, river bank mud removal and lagoon sludge prevention plans. Samarco Minerao S.A. also hired New York law firm Cleary Gottlieb Steen & Hamilton LLP to investigate exactly what led to the disaster. BHP Billiton has committed itself to helping relocate displaced communities before 25 December 2015.
BHP Billiton and Vale, the mining giants and joint venture partners of Samarco Minerao S.A. have been ordered by a Brazilian court to reserve £330m ($491.5m) of funds currently frozen in assets within Brazil, with potentially billions more to follow, it was reported today. This is the penalty for their part in Brazil’s worst ever environmental disaster, when one of the company’s dams recently collapsed, causing 17 fatalities so far. The partners have also been instructed by the courts to undertake extensive remediation plans to aid the environmental and socio-economic recovery of the area. Recommendations include consultancy evaluations of fish contamination, prevention of waste leakage, implementation of pest control measures, river bank mud removal and lagoon sludge prevention plans. Samarco Minerao S.A. also hired New York law firm Cleary Gottlieb Steen & Hamilton LLP to investigate exactly what led to the disaster. BHP Billiton has committed itself to helping relocate displaced communities before 25 December 2015.