RNS Number : 9823S
BHP Billiton PLC
28 June 2018
NEWS RELEASE
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Release Time
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IMMEDIATE
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Date
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28 June 2018
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Release Number
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09/18
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Samarco Update
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.
Further information on BHP can be found at: bhp.com
Note:
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.
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Media Relations
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Investor Relations
Email: [email protected]
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Australia and Asia
Ben Pratt
Tel: +61 3 9609 3672 Mobile: +61 419 968 734
United Kingdom and South Africa
Neil Burrows
Tel: +44 20 7802 7484 Mobile: +44 7786 661 683
North America
Judy Dane
Tel: +1 713 961 8283 Mobile: +1 713 299 5342
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Australia and Asia
Andrew Gunn
Tel: +61 3 9609 3575 Mobile: + 61 402 087 354
United Kingdom and South Africa
Elisa Morniroli
Tel: +44 20 7802 7611 Mobile: +44 7825 926 646
Americas
James Wear
Tel: +1 713 993 3737 Mobile: +1 347 882 3011
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BHP Billiton Limited ABN 49 004 028 077
LEI WZE1WSENV6JSZFK0JC28
Registered in Australia
Registered Office: Level 18, 171 Collins Street
Melbourne Victoria 3000 Australia
Tel +61 1300 55 4757 Fax +61 3 9609 3015
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BHP Billiton Plc Registration number 3196209
LEI 549300C116EOWV835768
Registered in England and Wales
Registered Office: Nova South, 160 Victoria Street
London SW1E 5LB United Kingdom
Tel +44 20 7802 4000 Fax +44 20 7802 4111
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