Samarco's owners, Vale and BHP Billiton, have agreed the deal with Brazil’s federal attorney general, the states of Espírito Santos and Minas Gerais and other Brazilian authorities, for the restoration of the environment and communities affected by tailing dam failure.
“The agreement provides a long-term remedial and compensation framework for responding to the impact of the Samarco tragedy,” Vale said on Wednesday March 2.
The deal is renewable for periods of one year successively until all obligations under it have been performed, it added.
Samarco, Vale and BHP Billiton will establish a foundation to develop and execute environmental and socio-economic programmes to remediate and provide compensation for damage caused by the Samarco dam collapse.
Samarco – a 50:50 joint venture between Vale...