BHP Billiton has agreed to pay $50 million to settle an US class action over the Samarco disaster in November 2015, which killed 19 people and halted operations at the pellet producer, the company said on Thursday.
Samarco is a 50/50 joint venture (JV) between Vale and BHP Billiton. BHP Billiton said no admission of liability was issued, and the deal is still subject to approval by the District Court.
The class action suit was filed in the US District Court of the Southern District of New York on behalf of purchasers of American Depositary Receipts of BHP Billiton Limited and BHP Billiton Plc between September 25, 2014 and November 30, 2015.