BHP Billiton might finally have struck a compensation deal with the Brazilian government, but the fallout from the Samarco tailings dam disaster is far from over. It will loom as a 15-year distraction for BHP.

BHP and Vale, the owners of the Samarco joint venture, must have breathed a huge sigh of relief when they pushed a deal with Brazilian state and federal governments over the line in the early hours of Thursday morning.