The public attorneys of Brazilian federal government, along with the states of Minas Gerais and Espirito Santo, have filed a petition for compensation in a civil court in Minas Gerais, equivalent to $20 billion for damages resulting from the collapse of Samarco’s Fundão dam in 2015, which resulted in the largest environmental disaster in the Brazilian history.
The petition was made against the pellet producer Samarco and its shareholders, Vale and BHP. The attorneys said they based the amount of the compensation as a percentage of the combined net profits of Vale and BHP over the last three years, suggesting a ratio of 20 percent.
In a statement to the market, Vale informed that it was not notified of the request, adding that it “will present its position and defense in the legal proceedings related to the claim in due course.”
The company further reinforced its commitment to repairing the damage caused by the collapse of the Fundão dam.