Vale S.A. Strikes Liability Sharing Deal with BHP

Vale SA (VALE) has released an update.

Vale S.A. has announced a confidential agreement with BHP Billiton Brasil and other BHP entities to equally share potential liabilities relating to the 2015 Fundão Dam rupture. The agreement stipulates that should any liability be determined in ongoing group action claims in the UK and the Netherlands, the costs would be divided between the two companies. Vale also reaffirms its commitment to amends for the damages caused by the dam failure as per previous agreements with Brazilian authorities.

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