Vale, BHP cleared by Brazil court in 2015 dam disaster – report

A Brazilian court on Thursday cleared Vale (NYSE:VALE), BHP (BHP) and their Samarco joint venture in Brazil of responsibility over a 2015 dam collapse that caused the country’s worst ever environmental disaster, according to published reports.

The court reportedly said it found no conclusive evidence that “individual behavior contributed directly and decisively to the collapse of the dam.”

The Federal Prosecutors Office in Brazil in October 2016 filed criminal charges against the two companies and their JV as well as certain affiliated individuals in the federal court.

Last month, Vale (VALE) and BHP (BHP) reached an agreement with Brazil authorities that would see the two mining firms pay 170B reais (~$31.7B) related to the dam disaster in 2015.