Vale, BHP propose $25 billion settlement for Mariana disaster reparations

Vale, BHP propose $25 billion settlement for Mariana disaster reparations SAO PAULO (Reuters) -Vale, BHP and their joint venture Samarco have presented Brazilian authorities with a settlement proposal related to reparations for the 2015 Mariana tailings dam burst, which killed 19 people and left hundreds homeless. The proposal, the Brazilian mining giant said in a securities filing on Monday, foresees a total payment of 127 billion reais ($24.88 billion), including 37 billion reais already disbursed. Of the remaining amount, Vale said, 72 billion reais would be paid to the federal and local government over an undisclosed period, while 18 billion reais would be used to settle future obligations. Vale had previously said that it expected to reach a final agreement regarding the collapse of the tailings dam by the end of the first half of 2024. ($1 = 5.1037 reais) (Reporting by Peter Frontini; editing by Gabriel Araujo, Editing by Louise Heavens)