BHP Billiton said this week it will inject $515 million to support pellet producer Samarco and the Renova Foundation.
Samarco is a 50/50 joint venture (JV) between Vale and BHP Billiton. Production was halted in November 2015 following a deadly iron ore waste dam burst, which killed 19 people.
BHP Billiton said out of the $515 million in funding, $438 million will support the Renova Foundation until December 31, 2019. Additionally, it will provide Samarco a short-term facility of up to $77 million, which will be made available “until June 30, 2019.”