São Paulo – Vale has settled with BHP Brazil and the BHP Group over class action lawsuits in the United Kingdom and the Netherlands over the 2015 collapse of the Fundão dam in Brazil.
Fundão Dam is owned and operated by Samarco Minaraso. As disclosed on December 2, 2022, Vale is a defendant in a contributory action brought by BHP in an English court in relation to a class action brought against BHP by more than 600,000 claims seeking compensation for losses allegedly caused by the dam failure. (says England). BHP UK disclaims liability for claims.
As published on March 19, 2024, Vale has become a defendant in lawsuits filed in the Netherlands on behalf of more than 78,000 claimants who claim to have been affected by the dam collapse. As mentioned earlier, Vale will assess the merits of these claims in due course and present its defenses accordingly.
Vale and BHP have entered into a non-disclosure agreement under which contribution actions brought by BHP against Vale in respect of UK claims will be withdrawn. The effect of the settlement is that if it is decided that there is any liability to BHP claimants in the UK claims, or if any liability to claimants in the Netherlands is ultimately attributed to Vale, such liability will be split equally between BHP and Vale. . All other terms of the agreement shall be strictly confidential.
In accordance with the 2016 Transactions and Conduct Adjustment Regulation (TTAC) and the 2018 Conduct Adjustment Regulations related to joint governance with Brazilian public authorities (TAC Governance), Vale reaffirms its commitment to repair the damage caused by the collapse of the Fundão Dam. , Samarco Mineração SA and its joint venture owners, Vale and BHP Brazil.
Henry Blackwell is a contributor at Mediarunsearch.co.uk, covering a wide range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. He focuses on delivering clear, balanced reporting and useful information that helps readers stay informed about current events and emerging developments. His work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism.