• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

BHP faces $47 billion UK lawsuit over Brazilian dam collapse

by October 21, 2024
written by October 21, 2024

By Sam Tobin

LONDON (Reuters) – A hearing in a lawsuit against BHP over Brazil’s worst environmental disaster, the 2015 collapse of the Mariana dam, will begin at London’s High Court on Monday, with claimants seeking up to 36 billion pounds ($47 billion) in damages.

More than 600,000 Brazilians, 46 local governments, and around 2,000 businesses are suing BHP over the collapse of the dam in southeastern Brazil, which was owned and operated by BHP and Vale’s Samarco joint venture.

The collapse of the dam, which held mining waste known as tailings, unleashed a toxic wave that killed 19 people, left thousands homeless, flooded forests, and polluted the length of the Doce River – which is considered to be sacred by the Krenak indigenous tribe.

BHP, the world’s biggest miner by market value, is contesting liability and says the London lawsuit, one of the largest in English legal history, duplicates legal proceedings and reparation and repair programmes in Brazil.

It says nearly $8 billion has already been paid to those affected by the disaster through the Renova Foundation, which was established in 2016.

The Brazilian government is discussing a nearly $30 billion compensation deal with BHP, Vale and Samarco, the miners said on Friday.

Pogust Goodhead, the law firm representing the claimants, said in a statement the English lawsuit is “the only way to truly hold BHP accountable”.

“The English claim has pushed BHP into finally accepting they needed to do more in Brazil but this proposed deal only goes half way at best,” Pogust Goodhead CEO Tom Goodhead said.

BHP said in a statement that it is “working collectively with the Brazilian authorities and others to seek solutions to finalise a fair and comprehensive compensation and rehabilitation process”.

The London High Court hearing will last up to 12 weeks and will consider whether BHP is liable to the claimants under Brazilian environmental law.

It will also consider whether the Brazilian municipalities involved in the case are permitted to bring legal action and the impact of any agreements reached with BHP by claimants involved in the English lawsuit.

The suit has had a convoluted path towards trial: it was thrown out in 2020 before the Court of Appeal ruled it could proceed.

BHP and Vale also briefly fought in the English courts over their potential liability, before reaching an agreement in July to split the bill for any damages that may be awarded.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
WiseTech Global’s board to examine payments to CEO’s former partner, shares plunge
next post
Bitcoin at 3-month high as Trump odds drive currencies

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!








    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • China outlines more controls on exports of rare earths and technology

      October 10, 2025
    • Paramount acquires Bari Weiss’ The Free Press, naming her the top editor of CBS News

      October 7, 2025
    • YouTube to pay $24 million to settle Trump lawsuit

      October 1, 2025
    • Charlie Javice sentenced to 7 years in prison for fraudulent $175M sale of aid startup

      October 1, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (651)
    • Stock (6,426)

    Latest News

    • China outlines more controls on exports of rare earths and technology
    • Paramount acquires Bari Weiss’ The Free Press, naming her the top editor of CBS News

    Popular News

    • Amazon vs. Walmart: Who’s leading the e-grocery race in the US?
    • Burberry investors watch for signs of sales turnaround

    About The Significant deals

    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy