BHP, Vale get extension to settle claim

BRASILIA: BHP Billiton Ltd and Vale SA have secured a 150-day extension from a Brazilian court to negotiate a settlement of a $48 billion claim stemming from the Samarco mine disaster in 2015, BHP said on Tuesday. The settlement date, which had been set for November 16, has been extended to April 20, 2018. Nineteen people died and nearby towns were inundated with flood waters after a dam designed to hold back mine waste burst on November 5, 2015, causing Brazil’s worst ever environmental disaster. BHP and Vale also entered into an amendment agreement that brings the Brazilian prosecutors into the preliminary agreement regarding the settlement of the mine disaster claims, BHP said. — Reuters