MELBOURNE (dpa-AFX) - Vale SA (VALE) and BHP Billiton Ltd. (BHP.AX, BLT.L, BBL, BHP), the owners of Brazilian mining company Samarco Mineracao SA, said that they agreed with Brazilian authorities to suspend for two years a 155 billion real or $41 billion civil claim over the catastrophic 2015 collapse of a tailings dam while talks continue. Vale CEO Fabio Schvartsman said: “The Agreement is important because it demonstrates a convergence of interests between the parties, Vale, BHP Brasil, Samarco, the Federal Prosecution offices, the Federal and State Attorneys’ offices and the Federal and State Public Defenders’ offices, representing a further improvement for the affected people, as it consolidates and broadens the scope of the actions that were already being implemented by the Renova Foundation.”

The agreement reached by the parties is subject to the Brazilian government signing the agreement.
International mining firm BHP Billiton signs an agreement with Brazilian authorities over criminal culpability and civil compensation liability over a mine site collapse that killed nineteen. The deal halts litigation for up to two years but does not confirm a final amount for a settlement.