BHP Billiton, Vale make up to $2.5bn provision for Samarco costs

Diversified mining groups BHP Billiton and Vale, which jointly own the Samarco operation in Brazil, will make provisions of up to $2.5-billion to cover for the costs of the joint venture's fatal dam disaster. The charge reflects the “ongoing uncertainty surrounding the nature and timing of a potential restart of Samarco’s operations”, BHP Billiton said in a statement on Thursday.