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Vale, BHP propose 1.2bn reais DIP financing for Samarco -court document

Bankrupt miner Samarco Mineracao SA plans to receive a 1.2-billion reais ($238-million) debtor-in-possession loan extended by its controlling shareholders, Vale SA and BHP Group Ltd, to maintain its activity, according to court documents reviewed by Reuters. But a group representing 80% of Samarco's debt excluding Vale and BHP oppose the move, saying the DIP financing goal would be to protect Vale and BHP assets.

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