Brazil mine disaster: President Rousseff announces initial fine of $66mn

Shares in BHP Billiton have plunged to a ten-year-low after the Brazil government slapped an initial fine of $66.2 million on the mining operation where two dams burst, resulting in at least seven deaths and leaving a vast area splattered with mud and mining waste.  

The mine is jointly owned by BHP and Vale, both multinational companies.

Brazil’s president Dilma Rousseff announced the fines after flying over the affected areas. About 20 people are still unaccounted for in the disaster. 

 

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