Australia-based mining behemoth BHP and its Brazilian counterpart Vale have proposed a $26 billion settlement to resolve claims by Brazil emanating from the 2015 mining catastrophe that resulted in 19 fatalities and extensive environmental damage. This overture arrives on the heels of previously unsuccessful discussions in December 2023, as reported on Law[dot]com.
The earlier negotiations showcased the participation of several notable Brazilian law firms. Mattos Filho advised BHP while Sergio Bermudes Advogados provided its legal expertise to Vale. Samarco had the representation of Machado Meyer Sendacz e Opice Advogados.
Even if the mining groups come to a resolution with the Brazilian authorities, the path to total settlement may not be fully clear. Litigant firm Pogust Goodhead indicates that victims’ claims lodged in London would continue, irrespective of any agreement hammered out in Brazil.