BHP to Settle Australian Shareholder Suit on Brazil Dam Failure For $73 Million
By Rhiannon Hoyle
BHP Group on Tuesday said it has agreed to settle an Australian shareholder class action related to a deadly dam failure in Brazil in 2015 for 110 million Australian dollars (US$73 million).
Australia-based BHP, the world's biggest miner by market value, said the agreement is inclusive of interest and costs, with no admission of liability. The company expects to recover the majority of the sum from its insurers, it said.
The failure of the Fundao Dam at an operation owned jointly by BHP and Brazil's Vale destroyed villages and killed 19 people as mine waste rushed down one of southeast Brazil's main river systems, polluting more than 400 miles of waterways.
The class action was brought on behalf of shareholders who acquired BHP shares between August 2012 and November 2015, when the disaster happened.
The settlement is subject to approval by the Federal Court of Australia.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
September 08, 2025 19:42 ET (23:42 GMT)
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