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BRIEF-BHP Billiton to recognise provision in range of US$1.1 bln to US$1.3 bln

Published 28/07/2016, 08:48 am
© Reuters.  BRIEF-BHP Billiton to recognise provision in range of US$1.1 bln to US$1.3 bln
BHPB
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July 28 (Reuters) - BHP Billiton (LON:BLT) Ltd:

* Bhp billiton ltd - update samarco

* "Will recognise a provision in the range of US$1.1 billion to US$1.3 billion"

* Further short-term facility of up to US$116 million is being made available to Samarco to carry out remediation and stabilisation work

* Also approved US$134 million to support the foundation to allow the continuation of reparatory and compensatory programs

* Associated income statement charge will be recognised as an exceptional item in June 2016 half-year, together with direct costs of about US$100 million (post tax)

* Short-term facility will preserve the value of BHP billiton's investment

* Foundation provided for under agreement has been established to deliver the socioeconomic and environmental programs outlined in agreement

Source text for Eikon ID:nASX4LGhqf

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