UPDATE 1-Vale, BHP propose $25 billion settlement for Mariana disaster reparations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 29 2024
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Source: Yahoo Finance
- Settlement Proposal for Mariana Dam Burst: Vale, BHP, and Samarco presented a settlement proposal to Brazilian authorities for the 2015 Mariana tailings dam burst.
- Financial Details: The proposal includes a total payment of 127 billion reais ($24.88 billion), with 37 billion reais already disbursed.
- Payment Allocation: Vale specified that 72 billion reais would go to federal and local governments over an undisclosed period, and 18 billion reais would be used for future obligations.
- Timeline Expectation: Vale aims to finalize an agreement on the dam collapse by the first half of 2024.
- Currency Conversion: The exchange rate mentioned is $1 = 5.1037 reais.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
