Brazilian pellet producer Samarco, a 50/50 joint venture (JV) between Vale and BHP Billiton, was given another 30 days by a Brazilian judge to pay part of a BRL 1.2 billion ($358.2 million) deposit in reparation guarantees, following the Mariana disaster in November 2015.
In a securities filing, Brazil’s Vale reiterated on Monday its support to Samarco by saying it will “continue” adopting all needed measures to guarantee Vale’s defense rights within the proper legal timelines.
Vale added it will continue supporting Samarco, so all the reparation measures can be properly addressed.
As hopes of a 2017 restart for Samarco gain strength, the pellet producer is studying new alternatives for storing its iron ore waste. The company has mapped out structures that could guarantee its operations for a decade, according to Roberto Carvalho, the company’s CEO.