Brazil on Friday signed a 170 billion reais ($29.85 billion) compensation agreement with miners BHP, opens a new tab, Vale, new tab and Samarco for the Mariana dam collapse in 2015, one of the country's worst environmental disasters.

The collapse of the dam at the iron ore mine owned by Samarco, a joint venture between Vale and BHP, near the city of Mariana in southeastern Brazil, unleashed a wave of tailings in a disaster that killed 19 people, left hundreds homeless, flooded forests and polluted the length of the Doce River.

Brazil's President Luiz Inacio Lula da Silva attended a ceremony in Brasilia to mark the signing of the agreement, with the government saying the first instalment of five billion reais must be paid within 30 days.

The agreement provides for the payment of 132 billion reais, of which 100 billion reais represent "new resources" that must be paid to the public authorities within 20 years by the companies involved in the tragedy.

<a href="https://www.wionews.com/world/russia-backs-india-brazil-for-permanent-un-security-council-seats-calls-for-reform-769287">Also read:&nbsp;Russia backs India, Brazil for permanent UN Security Council seats, calls for reform</a>

They will allocate the other 32 billion reais to pay for compensation for affected people and reparation actions that will remain under their responsibility, in addition to the 38 billion reais that the miners say they have disbursed.

The government's solicitor general, Jorge Messias, said the resources provided in the agreement will allow local authorities to repair the financial losses of families hit by the tragedy and pay for environmental recovery actions in affected areas in the states of Minas Gerais, where the dam is located, and Espirito Santo through which the Doce River flows to the sea.

The annual payments will be scheduled until 2043, with values varying between 7 billion reais in 2026 and 4.41 billion reais in the last instalment.

"These resources will allow us to provide justice in reparation to the families directly affected and their impact will be felt over several areas, not only in the recovery of the environment, but in the resumption of economic activities, health and infrastructure," Messias said.

BHP in a statement said it expected outflows under the agreement to align with its full-year 2024 Samarco provision of $6.5 billion and no update was required to the existing provision at this time.

Friday's agreement could end more than a hundred lawsuits against the mining companies in the South American country and possibly limit legal action abroad, three sources close to the matter said this week.

BHP is contesting liability in a lawsuit worth up to 36 billion pounds ($47 billion) in London's High Court over its responsibility for the Mariana disaster. The world's biggest miner by market value says the London lawsuit duplicates legal proceedings and reparation and repair programmes in Brazil and should be thrown out.

Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION&nbsp;audience.

Brazil on Friday signed a 170 billion reais ($29.85 billion) compensation agreement with miners BHP, opens a new tab, Vale, new tab and Samarco for the Mariana dam collapse in 2015, one of the country's worst environmental disasters.

Brazil on Friday signed a 170 billion reais ($29.85 billion) compensation agreement with miners BHP, opens a new tab, Vale, new tab and Samarco for the Mariana dam collapse in 2015, one of the country's worst environmental disasters. The collapse of the dam at the iron ore mine owned by Samarco, a joint venture between Vale and BHP, near the city of Mariana in southeastern Brazil, unleashed a wave of tailings in a disaster that killed 19 people, left hundreds homeless, flooded forests and polluted the length of the Doce River. Brazil's President Luiz Inacio Lula da Silva attended a ceremony in Brasilia to mark the signing of the agreement, with the government saying the first instalment of five billion reais must be paid within 30 days. The agreement provides for the payment of 132 billion reais, of which 100 billion reais represent "new resources" that must be paid to the public authorities within 20 years by the companies involved in the tragedy. Also read: Russia backs India, Brazil for permanent UN Security Council seats, calls for reform They will allocate the other 32 billion reais to pay for compensation for affected people and reparation actions that will remain under their responsibility, in addition to the 38 billion reais that the miners say they have disbursed. The government's solicitor general, Jorge Messias, said the resources provided in the agreement will allow local authorities to repair the financial losses of families hit by the tragedy and pay for environmental recovery actions in affected areas in the states of Minas Gerais, where the dam is located, and Espirito Santo through which the Doce River flows to the sea. The annual payments will be scheduled until 2043, with values varying between 7 billion reais in 2026 and 4.41 billion reais in the last instalment. "These resources will allow us to provide justice in reparation to the families directly affected and their impact will be felt over several areas, not only in the recovery of the environment, but in the resumption of economic activities, health and infrastructure," Messias said. BHP in a statement said it expected outflows under the agreement to align with its full-year 2024 Samarco provision of $6.5 billion and no update was required to the existing provision at this time. Friday's agreement could end more than a hundred lawsuits against the mining companies in the South American country and possibly limit legal action abroad, three sources close to the matter said this week. BHP is contesting liability in a lawsuit worth up to 36 billion pounds ($47 billion) in London's High Court over its responsibility for the Mariana disaster. The world's biggest miner by market value says the London lawsuit duplicates legal proceedings and reparation and repair programmes in Brazil and should be thrown out. Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

Brazil locks $30bn compensation deal with BHP, Vale over 2015 Mariana dam collapse

BHP faces lawsuit in London over the 2015 Mariana dam collapse in brazil, which killed 19 people. Over 600,000 claimants are seeking $47 billion in damages. Bhp argues it is not liable, citing ongoing reparations efforts. Take a look at our next report.

BHP Faces $47 Bn Legal Claim In London

Leading miner BHP group has proposed a takeover of Anglo American. The deal, which has valued the smaller miner at 39 billion dollars, would create the world’s top copper producer. Moreover, this could spark the industry’s biggest shakeup in over a decade.

Merger deal to create world’s top copper producer

Global mining giant&nbsp;BHP&nbsp;said Thursday it had been underpaying thousands of Australian staff for more than a decade, an error that will cost at least US$280 million to fix.

The company said 28,500 current and former employees were stripped of paid leave they were entitled to.&nbsp;

BHP&nbsp;Australia president Geraldine Slattery said the error would be rectified "as quickly as possible" and "with interest".

The company did not explain how the error occurred.

"We are sorry to all current and former employees impacted by these errors. This is not good enough and falls short of the standards we expect at&nbsp;BHP," Slattery said.

BHP&nbsp;expects to have a fuller estimate of the cost of the error when it reports earnings in August, but it put the initial price tag at "US$280 million pre-tax."

The company's share price fell almost one percent on the news.

BHP&nbsp;is one of the world's largest companies, and a leading producer of metallurgical coal, iron ore, nickel, copper and potash.

Australia has some of the world's strongest labour protections and it is not uncommon for companies to discover problems with past payrolls and be forced to rectify the situation.

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Global mining giant BHP said Thursday it had been underpaying thousands of Australian staff for more than a decade, an error that will cost at least US$280 million to fix.

Global mining giant BHP said Thursday it had been underpaying thousands of Australian staff for more than a decade, an error that will cost at least US$280 million to fix. The company said 28,500 current and former employees were stripped of paid leave they were entitled to. BHP Australia president Geraldine Slattery said the error would be rectified "as quickly as possible" and "with interest". The company did not explain how the error occurred. "We are sorry to all current and former employees impacted by these errors. This is not good enough and falls short of the standards we expect at BHP," Slattery said. BHP expects to have a fuller estimate of the cost of the error when it reports earnings in August, but it put the initial price tag at "US$280 million pre-tax." The company's share price fell almost one percent on the news. BHP is one of the world's largest companies, and a leading producer of metallurgical coal, iron ore, nickel, copper and potash. Australia has some of the world's strongest labour protections and it is not uncommon for companies to discover problems with past payrolls and be forced to rectify the situation. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Mining giant BHP faces $280 million cost for underpaying staff

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Brazil locks $30bn compensation deal with BHP, Vale over 2015 Mariana dam collapse

BHP Faces $47 Bn Legal Claim In London

Merger deal to create world’s top copper producer

Mining giant BHP faces $280 million cost for underpaying staff