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Samarco to pay 24 bln reais in damages for dam disaster -govt memo

Published 03/03/2016, 05:25 am
Updated 03/03/2016, 05:30 am
Samarco to pay 24 bln reais in damages for dam disaster -govt memo
BHPB
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VALE
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BRASILIA, March 2 (Reuters) - Mining company Samarco agreed with the Brazilian government to pay over 24 billion reais ($6.2 billion) in damages for a deadly dam spill in November, an environment ministry memo seen by Reuters on Wednesday said.

The memo said Samarco would pay 4.4 billion reais through 2018 into a government fund to cover the clean up caused by the spill of a tailings dam. Samarco is a joint venture between Vale SA VALE5.SA and BHP Billiton BLT.L .

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