Brazil court rules Vale, BHP, Samarco to deposit $354m after dam burst

Brazilian iron-ore mining joint venture Samarco Mineração and its controllers Vale and BHP Billiton have 30 days to make a deposit of 1.2-billion reais ($354-million) to fund preparatory measures after last year's dam disaster, Vale said on Friday. According to a securities filing, a Brazilian federal court ruled that the companies have 90 days to prove that the Mariana dam burst has been fully contained. Over the next six months, they will have to present plans to clean up the remaining waste that spewed from the Samarco mine.