Brazil environmental disaster victims take case against mining giant BHP to UK court [Yahoo! Finance Canada]
VALE S.A. American Depositary Shares Each Representing one common share (VALE)
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Source: Yahoo! Finance Canada
The class action lawsuit at the High Court in London seeks an estimated 36 billion pounds ($47 billion) in damages from the global mining giant BHP. That would make it the largest environmental payout ever, according to Pogust Goodhead, the law firm representing the plaintiffs. BHP owns 50% of Samarco, the Brazilian company that operates the iron ore mine where a tailings dam ruptured on Nov. 5, 2015, releasing enough mine waste to fill 13,000 Olympic-size swimming pools into the Doce River in southeastern Brazil. The case was filed in Britain because one of BHP's two main legal entities was based in London at the time. The trial comes days after BHP announced that the company and its partner in Samarco, Vale SA, were negotiating a settlement with public authorities in Brazil that could provide $31.7 billion for people, communities and the environment damaged. The potential settlement won't have any impact on the London case, Pogust Goodhead said in a statement. “Such timing
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VALE
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- 7/26/24 - Beat
VALE
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- 12/20/24 - Form 6-K
- 12/17/24 - Form 6-K
- 12/11/24 - Form 6-K
- VALE's page on the SEC website