BHP, Vale Release More Funding to Samarco JV

With Brazilian regulators moving forward on plans to issue new permits to the disaster-plagued Samarco mining operation, both owners of the joint venture are committing short-term financing to the mining company. BHP Billiton (NYSE: BHP) and Vale (NYSE: VALE) issued separate statements late last week announcing they were each extending $115 million to Samarco Mineracao for remediation and stabilization work at the site of an iron ore tailings dam collapse last November that released 60 million cubic meters of toxic mining sludge, left 19 people dead and polluted hundreds of miles of waterways. …read more

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Category: BHP, VALE

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