Quantcast
logo

Brazil mining disaster: Judge freezes assets of BHP Billiton and Vale SA

  • The Brazilian assets of BHP Billiton and Vale SA have been frozen after a judge determined that the two mining firms’ joint venture Samarco was not able to pay for the extensive damage caused by the dam burst last month.

    The judge in Minas Gerais state ruled that BHP Billiton and Vale SA could be held responsible for the iron ore mine disaster, which killed 16 people and led to widespread environmental damage.

    Brazil’s government has demanded $5 billion in compensation.

     

     

    Tagged as: Brazilian assets, BHP Billiton, Vale SA, Samarco, Minas Gerais, iron ore mine disaster, environmental damage, business news