BHP Billiton Limited
(ASX:BHP) has announced it has approved further financial support for Samarco in relation to last year’s fatal mine disaster in Brazil.
US$181 million has been approved to fund remediation and compensation programs, which will be offset against the Groups US$1.2 billion provision.
A short term facility of up to US$115 million has also been made available for Samarco to carry out remediation and stabilization work and to support its operations.
BHP has indicated its Brazilian arm is continuing to work through options for a restart at the mine with its partner Vale and Samarco.
BHP Billiton Limited reported a net loss of $8.4 billion at 30 June 2016.
