BHP announces $1.3 billion provision for Samarco

BHP Billiton has announced that it will recognise a provision in the range of US$1.1 billion to US$1.3 billion to cover costs related to the Samarco dam failure in Minas Gerais, Brazil, in November 2015

BHP announces $1.3 billion provision for Samarco BHP announces $1.3 billion provision for Samarco BHP announces $1.3 billion provision for Samarco BHP announces $1.3 billion provision for Samarco BHP announces $1.3 billion provision for Samarco

The Fundão tailings dam burst on November 5, 2015. Photo: Senado Federal

According to BHP Billiton, the amount is approximately equivalent to its 50% share of the current estimate of Samarco’s funding obligations under the terms of the framework agreement entered into on