More bad news is good news:
The Brazilian government agreed in May to cap the liability of the Samarco partners, BHP and fellow miner Vale, at 9.2 billion Brazilian Real ($3.84 billion), but Friday morning’s decision in Brazil’s “Superior Court of Justice” has suspended that agreement and left the two miners open to other claims.
The decision followed an appeal by several independent federal prosecutors.
BHP said on Friday the suspension effectively reignited an earlier claim by Brazilian authorities for the miners to pay 20 billion Brazilian Real ($8.36 billion) in penalties and reparations.
“The effect of the interim order of the Superior Court of Justice is to reinstate the 20 billion Real public civil claim,” the company said.
A separate independent prosecutor announced in May that he was pursuing the Samarco partners for 155 Brazilian Real ($64.72 billion).
Stock up 3% because being buried in tailings slime makes for good profits!
