BHP, Vale Reach Settlement Regarding Samarco Dam Breach

Mining Weekly reported that BHP Billiton (NYSE:BHP) and Vale (NYSE:VALE) have reached a settlement with Brazillian Authorities regarding a 2015 tailings dam breach at its Samarco project.
As quoted in the publication:

Under the terms of the agreement, Samarco, Vale and BHP would establish a foundation that would develop and execute environmental and socioeconomic programmes to remediate and provide compensation for damages caused by the Samarco dam failure.
During 2016, Samarco would contribute $500-million to the foundation, less the amount of funds already spent, with 2017 and 2018 funding set at $300-million a year.
The amount of yearly contributions between 2019 and 2021 would vary from a minimum of $200-million to a maximum of $400-million, depending on the remediation and compensation projects to be undertaken in each particular year.

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