Stalled BHP-Vale mine said seeking waiver on bank repayments

Brazilian miner Samarco is seeking a standstill agreement on about $1.6-billion in bank loans as its owners BHP Billiton and Vale refuse to cover debt payments, people with knowledge of the matter said. The iron-ore venture, whose operations were halted last year after a dam spill, is asking lenders to stop demanding repayment until it resumes mining, the people said, asking to remain anonymous because talks are private. Creditors negotiating with Samarco are pushing to at least receive interest payments on the debt, according to a person with direct knowledge of the talks.