BHP Billiton funds Renova Foundation for dam failure victims

Company News

by Rachael Jones

BHP Billiton (ASX:BHP) has released a statement referring to media reports concerning an agreement with the State Prosecutor of Mariana in Brazil in relation to compensation for the impacts of the Samarco dam failure in 2015.

The dam collapsed on the 5th November 2015 at Samarco, BHP and Vale’s joint venture killing 19 people and becoming the country’s worst ever environmental disaster.

BHP committed finances to the Renova Foundation and say to date they have been providing compensation and support to many of the individuals in Mariana who have been impacted by the dam failure.

Shares in BHP Billiton (ASX:BHP) are up 1.11 per cent to $35.47.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.