"RIO DE JANEIRO - Miners Vale, BHP, and Samarco are discussing a near $30 billion compensation deal with Brazilian authorities related to the 2015 Mariana dam collapse, they said on Friday, with an agreement set to be signed on Oct. 25, sources said.
The collapse of the dam at an iron ore mine owned by Samarco, a joint venture between Vale and BHP, near the city of Mariana nine years ago unleashed a wave of toxic tailings in a disaster that killed 19 people, left hundreds homeless, flooded forests and polluted the length of the Doce River.
The three mining firms have for years been negotiating a compensation agreement with the country's public attorney and with state and federal authorities, hoping a deal would end several court actions on the matter.
In separate statements and securities filings, Vale, BHP and Samarco said the version of the agreement currently being discussed would include a total compensation of 170 billion reais ($29.9 billion), with 100 billion reais of that to be paid through 20 years directly to public authorities."
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