BHP Billiton Limited (ASX:BHP) has announced it will fund up to US$181 million in financial support as part of its response efforts related to the dam failure at Samarco in November 2015.
US$133 million will be used to fund the Renova Foundation to undertake remediation and compensation programs.
This amount will be offset against the Group’s provision for the Samarco dam failure.
A short term facility of US$42 million will be made available to Samarco as required, to carry out ongoing repair works, maintain facilities and support restart planning.
BHP Billiton Limited (ASX:BHP) is trading 1.63 per cent up at $29.31