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BHP loses appeal against $6B Brazil dam lawsuit; claim can proceed in U.K.

Jul. 08, 2022 7:04 AM ETBHP Group Limited (BHP)By: Carl Surran, SA News Editor6 Comments

Reclaimer working on an iron ore site under blue sky

CUHRIG/E+ via Getty Images

BHP (NYSE:BHP) lost an appeal in a London court Friday seeking to block a 5B-plus ($6B-plus) group action claim in the U.K. over the 2015 Samarco dam failure that triggered Brazil's worst environmental disaster.


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Comments (6)

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If this was anything other than a shakedown they'd be going after the 50% partner Vale as well.
I should’ve sold. Samarco is a jointly owned business, with Vale. The responsibility is not just BHP’s. British legal system still trying to show their relevance. ‘Brazil can’t do this on their own’. Not sure they’ll be a different outcome from Britain’s Supreme Court. Can they just be ignored? It’s not their jurisdiction.
bobcowman profile picture
Haven't they reserved this cost already?
."..Doce river, obliterating villages in its path, before reaching the Atlantic.."

nonsense...apart from a dozen houses in the immediate hamlet (19 deaths, tragic enough), no obliterated villages in its 400 mile path, etc
Guraaf profile picture
Oh no. I recently bought some and now not sure if I should hold or add more if it falls below $50.
Another gut punch.
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