Vale, BHP could close deal to pay nearly $18B over Brazil dam collapse – Reuters

Vale (NYSE:VALE) and BHP (BHP), together with their Samarco joint venture, may soon reach an agreement with Brazilian authorities to pay ~100B reais ($17.87B) in compensation for the 2015 Mariana tailings dam collapse that killed 19 people and left hundreds homeless, Reuters reported Friday.

The amount would exceed the 82B reais in new resources offered in the companies’ last proposal in June to compensate for the disaster.

In July, the companies reached a deal to equally split the cost of any damages related to proceedings in the U.K. over the Samarco dam failure.

The companies said they would pay 50% of any potential amounts due to the claimants in Britain, the Netherlands and other proceedings in Brazil, without admitting liability.