Brazil reaches a $23 billion settlement with mining firms over a 2015 environmental disaster
Brazil’s President Luiz Inácio Lula da Silva has signed an agreement worth tens of billions of dollars with the mining companies responsible for a 2015 dam collapse that was one of the country’s worst-ever environmental disasters
SAO PAULO (AP) — Brazil's federal government on Friday reached a multibillion-dollar settlement with the mining companies responsible for a 2015 dam collapse that the government said was the country's worst-ever environmental disaster.
Under the agreement, Samarco — a joint venture of Brazilian mining giant Vale and Anglo-Australian firm BHP — will pay 132 billion reais ($23 billion) over 20 years. The payments are meant to compensate for human, environmental and infrastructure damage caused by the release of an immense amount of toxic mining waste into a major river in southeastern Minas Gerais state, killing 19 people and ravaging entire villages.
“We are fixing a disaster that could have been avoided, but wasn’t,” President Luiz Inácio Lula da Silva said in a hall of the presidential palace, surrounded by governors of the affected states, members of his administration, reporters and victims.
Lula's speech, filled with criticism of what he called the mining companies’ irresponsibility in chasing profit over safety, was met with applause from the audience.
