financetom
Business
financetom
/
Business
/
BHP faces $47 billion UK lawsuit over Brazilian dam collapse
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
BHP faces $47 billion UK lawsuit over Brazilian dam collapse
Oct 20, 2024 7:01 PM

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.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Sector Update: Consumer Stocks Mixed Premarket Thursday
Sector Update: Consumer Stocks Mixed Premarket Thursday
May 26, 2025
09:17 AM EDT, 05/15/2025 (MT Newswires) -- Consumer stocks were mixed premarket Thursday with the Consumer Staples Select Sector SPDR Fund ( XLP ) 0.4% higher and the Consumer Discretionary Select Sector SPDR Fund ( XLY ) down 0.6% recently. Dick's Sporting Goods (DKS) has agreed to acquire Foot Locker ( FL ) in a deal that implies an equity...
MKS Instruments Says James Schreiner to Reassume COO Role
MKS Instruments Says James Schreiner to Reassume COO Role
May 26, 2025
09:17 AM EDT, 05/15/2025 (MT Newswires) -- MKS Instruments ( MKSI ) said Thursday that James Schreiner will end his tenure as leader of the company's Materials Solutions division on Aug. 1 and transition back to the role of chief operating officer. Schreiner will now lead operations, supply chain, and workplace operations for the company's Vacuum Solutions and Photonics Solutions...
Sellas Life Sciences Doses 1st Pediatric Patient in Acute Myeloid Leukemia Study
Sellas Life Sciences Doses 1st Pediatric Patient in Acute Myeloid Leukemia Study
May 26, 2025
09:16 AM EDT, 05/15/2025 (MT Newswires) -- Sellas Life Sciences Group ( SLS ) said Thursday it has dosed the first pediatric patient in the ongoing phase 2 trial of SLS009 in relapsed/refractory acute myeloid leukemia. The study will assess the safety, tolerability and efficacy of SLS009 in combination with venetoclax and azacitidine at doses of 45 and 60 mg,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved