03:13 PM EDT, 05/15/2024 (MT Newswires) -- Brazil states Minas Gerais and Espirito Santo asked a court to more than double the penalty that BHP Group ( BHP ) , Vale (VALE) and their joint venture Samarco must pay for a 2015 dam collapse that left hundreds homeless, Reuters reported.

The companies were ordered to pay 47.6 billion reais ($9.26 billion) in damages in January for the 2015 dam burst at the Samarco iron ore mine which caused 19 deaths and polluted the Doce River. The states have asked a court to approve a penalty of 100 billion reais and interest, plus a late payment penalty.

BHP, Vale and Samarco did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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