BHP Billiton fined £40m for Brazil dam disaster

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BHP Billiton is under political attack in Brazil after leader Dilma Rousseff levied more than £40 million of fines and ramped up her criticism in the wake of the Samarco mining disaster. 

The death toll from the catastrophe rose to nine today and 19 people are still missing after a BHP-controlled dam burst on November 5, flooding surrounding villages with thick red toxic mud.

Rousseff will fine Samarco, the joint-venture between BHP and Vale which controlled the dam,  250 million reals  (£43.5 million) for violating environmental regulations.

Further penalties from states surrounding the disaster site are likely to follow. 

“We are determined to hold responsible those who are responsible for this,” Rousseff said. 

BHP’s shares rose 21.6p to 898.9p.

Source Article from http://www.standard.co.uk/business/bhp-billiton-fined-40m-for-brazil-dam-disaster-a3114116.html

November 13, 2015 |
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