BHP (BHP, Financial) is up against a $47 billion lawsuit in the UK over the 2015 Mariana Dam disaster in Brazil. The case involves more than 600,000 claimants, including 46 local businesses and 2,000 governments, with the trial set to begin Monday in London's High Court. Additionally, up to 12 weeks are expected of hearing.
Arguing that it duplicates continuous legal procedures and compensation efforts in Brazil, BHP has challenged the lawsuit. The corporation believes that together with further settlement talks with the Brazilian government, around $8 billion in reparations paid through the Renova Foundation should be enough for the settlement.
According to a Financial Times analysis, BHP and Brazilian mining company Vale (VALE, Financial), its project partner, have jointly proposed a $23.8 billion settlement in Brazil. Operating under BHP and Samarco, a joint venture between Vale and BHP, the Mariana Dam collapsed in 2015 causing 19 deaths, thousands of displacements, and major pollution of the Doce River.
According to BHP, its goal is to complete a fair and thorough pay system that would retain money within Brazil in assisting in the restoration of projects in impacted areas.
