BHP has triumphed in its battle to minimise the costs of the Samarco dam failure that killed 19 people in 2015 and knocked $25 billion off its market value. But it is yet to convince the local community of its commitment to fairness and justice.
After nine years of torturous negotiations, BHP Group has scored a resounding strategic and financial victory in its bid to minimise the cost of the Fundão tailings dam collapse in Brazil that killed 19 people and destroyed vast areas of the local environment.
BHP will be able to cover its obligations under a definitive settlement agreement signed on Friday through the existing $US6.55 billion ($9.9 billion) provision on its balance sheet.
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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com
