BHP, Samarco and Vale Submit $26 Billion Samarco Dam Indicative Settlement Proposal

By Pierre Bertrand

BHP Brasil said that together with Samarco and Vale it has submitted a nonbinding indicative settlement proposal worth around $25.7 billion relating to the failure of the Samarco dam in 2015.

The proposed settlement comes amid negotiations on obligations, claims, and how to resolve the incident which caused flooding in Brazil's Minas Gerais state.

BHP Brasil, part of BHP Group, said negotiations between the parties are ongoing and no final agreement has been reached on the settlement amount or terms.

Write to Pierre Bertrand at pierre.bertrand@wsj.com