BHP, Vale face new A$43bn claim over Samarco tailings dam failure

Diversified major BHP Billiton's share price fell by 9.4% on Wednesday after it announced that the Brazilian Federal Public Prosecution Service had launched a A$43-billion legal claim against it and joint venture (JV) partner Vale following a 2015 tailings dam failure at the Samarco iron-ore project, which claimed the lives of 19 people. BHP told shareholders on Wednesday that while the company had not received a formal notice of the claim, it was understood it related to social, environmental and economic compensation for the failure of a tailings dam at the Samarco project.