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Abstract:Global miner BHP Group said on Tuesday that no agreement has been reached on restructuring the financial obligations of Samarco, its joint venture with Brazil's Vale SA, following a 2015 mine disaster. BHP said in a statement th
(Reuters) - Global miner BHP Group said on Tuesday that no agreement has been reached on restructuring the financial obligations of Samarco, its joint venture with Brazil's Vale SA, following a 2015 mine disaster.
BHP said in a statement that Samarco's operations will only restart if it is safe, economically viable and has the support of the community and regulators.
The statement comes after a second deadly dam burst in Brazil on Friday at a mine owned solely by Vale.
The Brazilian prosecutor running talks to settle a lawsuit over the Samarco accident told Reuters that the new dam burst could scramble negotiations and change how his task force handles the 155 billion reais ($41 billion) case against Samarco.
The case is currently suspended amid negotiations for a potential settlement
Vale lost about 71.34 billion reais ($18.96 billion) in market value on Monday.
BHP shares rose about 2 percent on Tuesday after a long weekend following a surge in iron ore prices on Monday, while the broader Australian market fell about 0.4 percent.
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