BHP and Vale Agree on Dam Failure Claims

BHP Group Ltd (AU:BHP) has released an update.

BHP Group Limited has announced an agreement with Vale S.A to each cover 50% of potential payments related to ongoing legal actions over the 2015 Fundão Dam failure in Brazil, without admitting liability. The company is defending against over 600,000 claimants in the UK and is not a defendant in a similar case in the Netherlands. BHP will withdraw its contribution claim against Vale due to this new agreement, while continuing support for local remediation through the Renova Foundation, which has provided significant compensation and aid.

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