Brazilian state requests blockage of Samarco shareholders assets

Tuesday, 27 September 2022 20:55:21 (GMT+3)   |   Sao Paulo

The government of the Brazilian state of Espirito Santo has filed in a federal court a lawsuit requesting the blockage of BRL 10.34 billion ($1.93 billion) in assets belonging to Vale and BHP, the shareholders of the iron ore pellet producer Samarco.

The lawsuit refers to the collapse of the Samarco Mariana dam in 2015, resulting in 19 deaths and a massive environmental disaster that hit the states of Minas Gerais and Espirito Santo.

According to the lawsuit, the state says it makes no sense to ask for an indemnification to Samarco, as the company is currently under judicial recovery, without access to its own resources, while its shareholders have legal obligation to pay for the expenses derived from the disaster.

In the lawsuit, the government of the Espirito Santo state is accompanied by the public attorneys of the states of Minas Gerais and Espirito Santo and by the federal public attorney

Earlier this month, the request by Samarco to pay the indemnifications during the next 20 years was considered as abusive by the governments of Minas Gerais and Espirito Santo.


Similar articles

Brazilian high-grade iron ore price posts small decline week-on-week

31 Mar | Scrap & Raw Materials

Brazilian high-grade iron ore price posts small decline week-on-week

24 Mar | Scrap & Raw Materials

ArcelorMittal to triple production from its iron ore mine in Brazil

19 Mar | Steel News

Net losses soar 79.4 percent for 2025 at Samarco despite operational improvements

12 Mar | Steel News

Brazilian high-grade iron ore prices up $5/metric ton amid reports of scarcity

11 Mar | Scrap & Raw Materials

Brazilian iron ore exports slip while pellet exports rose nearly 11 percent in February 2026

10 Mar | Steel News

Brazilian high-grade iron ore price unchanged after Chinese holidays

25 Feb | Scrap & Raw Materials

Vale achieves production record in 2025, suspends two mines in Minas Gerais

28 Jan | Steel News

Brazilian high-grade iron ore price shows weekly decline

13 Dec | Scrap & Raw Materials

Brazilian high-grade iron ore price shows small weekly increase

06 Dec | Scrap & Raw Materials