Vale proposes final deal in compensation for Mariana disaster
Mining giant Vale is proposing a final deal worth BRL 170 billion to settle claims related to the collapse of the Fundão dam in the city of Mariana, Minas Gerais state, on November 5, 2015. The incident caused 19 deaths, pollution in the Doce river basin, and impacts on dozens of municipalities in Minas Gerais and neighboring Espírito Santo.
The proposal reinforces Vale’s commitment to full reparation for the collapse of the Fundão dam, owned by Samarco, a company in which it is a shareholder, along with Anglo-Australian BHP Billiton.
In a statement published Friday (Oct. 18), the company said the agreement under discussion aims for fair and effective terms for a mutually beneficial resolution for all parties, especially the families, communities, and the environment impacted, while providing definition and legal certainty for the companies.
Amounts
The document establishes BRL 38 billion in amounts already invested in remedial and compensation measures. Another BRL 100 billion will be paid in installments over 20 years to the federal government, the states of Minas Gerais and Espírito Santo, and the municipalities, to finance compensatory efforts linked to public policies.
The text also includes the payment of BRL 32 billion in obligations to Samarco, including individual compensation, resettlement, and environmental recovery initiatives.
Agreement
The general terms under discussion could pave the way for a definitive solution to all the disputes contained in the public civil actions and other lawsuits filed by the Brazilian public authorities relating to the collapse of Samarco’s Fundão dam, while defining measures to fully repair all the socio-environmental and socio-economic damage resulting from the collapse.
