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Brazil's IBAMA fines Samarco 500,000 reais per day

Published 05/11/2016, 06:08 am
Updated 05/11/2016, 06:10 am
© Reuters.  Brazil's IBAMA fines Samarco 500,000 reais per day
BHPB
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VALE
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BRASILIA, Nov 4 (Reuters) - Brazil's federal environmental agency IBAMA said on Friday it is fining Samarco Mineracao, an iron ore joint venture between Vale SA VALE5.SA and BHP Billiton BLT.L , 500,000 reais ($154,693) per day for not complying with directives related to a 2015 tailings dam spill at their mine.

IBAMA said Samarco will be fined daily until it increases the height of the "S3 dike" that was built to contain the continuing run off from the dam spill and effectively treats the mining waste, known as tailings, that lies upstream of the dike.

($1 = 3.2322 Brazilian reais)

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