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BHP Billiton PLC (BLT)

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Friday 29 June, 2018

BHP Billiton PLC

Samarco Update

RNS Number : 9823S
BHP Billiton PLC
28 June 2018
 

 

 

NEWS RELEASE

 

Release Time

IMMEDIATE

Date

28 June 2018

 

Release Number

09/18



 

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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