MELBOURNE (dpa-AFX) - Vale S.A. (VALE), a Brazilian metals and mining company, announced on Friday that it has entered into a confidential deal with BHP Billiton Brasil Ltda., BHP Group (UK) Ltd., and BHP Group Ltd. (BHP.AX, BLT.L, BBL, BHP) in connection with the action proceedings in the UK and the Netherlands related to the Fundao Dam rupture in Brazil in 2015.
The two companies have agreed without any admission of liability pursuant to which the contribution claim brought by BHP against Vale in connection with the UK claims will be withdrawn.
'The effect of the agreement is that should BHP ultimately be found to have any liability to the claimants in the UK Claims, or should Vale ultimately be found to have any liability to the claimants in the Netherlands, such liability would be shared equally between BHP and Vale,' the company said.
In addition, Vale has confirmed its commitment to repair the damages caused by the dam rupture as per the agreements inked with Brazilian public authorities, Samarco Mineraçao S.A. and its joint-venture owners, Vale and BHP Brasil.
The Fundao Dam was owned and operated by Samarco Mineraçao S.A., a company owned by Vale and BHP.
As disclosed in 2022, Vale is a defendant in a contribution claim brought by BHP before the English Court, in connection with a group action claim brought against BHP by over 600,000 claimants seeking damages for alleged losses arising from the dam rupture.
BHP denied liability in the UK Claims.
This year, Vale became a defendant in proceedings brought in the Netherlands on behalf of over 78,000 claimants who claim to have been affected by the dam rupture.
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