Skip to content

BHP has agreed to fund a total of US$211 million (BHP Billiton Brasil Ltda (BHP Brasil) share) in financial support for the Renova Foundation and Samarco Mineração S.A. (Samarco) until 31 December 2018.

An amount of US$158 million will be used to fund the Renova Foundation to undertake the remediation and compensation programs identified under the Framework Agreement dated 2 March 2016 between Samarco, Vale S.A., BHP Brasil, and the Federal Government of Brazil, the States of Minas Gerais and Espirito Santo and other public authorities. This amount of US$158 million will be offset against the Group’s provision for the Samarco dam failure. 

A short-term facility of up to US$53 million (BHP Brasil’s share) will be made available to Samarco to carry out ongoing repair works, maintain Samarco’s facilities and support restart planning. Funds will be released to Samarco only as required, and subject to achievement of key milestones.

Samarco Mineração S.A. is jointly owned by BHP Billiton Brasil Ltda and Vale S.A.  Our 50 per cent interest is accounted for as an equity accounted investment.

Subscribe to news alerts

No keyword(s) entered

Please ensure you enter a keyword and try searching again

Invalid email

Sorry, we are unable to subscribe you. Please ensure you have entered a valid email address and try again.

Subscription received

Thank you for subscribing to BHP news alerts. Please check your email for confirmation of your subscription.

Subscription confirmed

You have already signed up to our news.

Loading the player...