REG - BHP Group Limited - Samarco Update - Ratification of Agreement

BHPAnnouncement

07/11/2024 07:00

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RNS Number : 2715L  BHP Group Limited  07 November 2024

BHP Group Limited
Exchange release

7 November 2024

 

Samarco update - Ratification of agreement with Brazilian Public Authorities

Further to BHP's announcement on 25 October 2024, BHP confirms that the
agreement entered into between the Federal Government of Brazil, State of
Minas Gerais, State of Espirito Santo, public prosecutors and public defenders
(Public Authorities) and Samarco Mineração S.A. (Samarco), BHP Billiton
Brasil Ltda. (BHP Brasil) and Vale S.A. (Vale) (the Companies) was ratified by
the Supreme Court of Brazil in Brasilia on 6 November 2024.

The Agreement delivers a full and final settlement of the Framework Agreement
obligations, the Federal Public Prosecution Office civil claim and other
claims by the Public Authorities relating to Samarco's Fundão dam failure on
5 November 2015 (Agreement).

The financial value of the Agreement is R$170 billion 1  (US$31.7 billion 2 )
on a 100% basis and provides reparation for the impacts of the dam failure
that will be delivered to the people, communities and environment impacted by
the dam failure.

As shareholders in Samarco, BHP Brasil and Vale have always been fully
committed to supporting the extensive ongoing remediation and compensation
efforts in Brazil. BHP Brasil will continue to focus on supporting the
long-term recovery of the communities and environment affected by the dam
failure.

 

Authorised for release by Stefanie Wilkinson, Group General Counsel and Group
Company Secretary.

 Contacts
 Media                                        Investor Relations

 media.relations@bhp.com                      investor.relations@bhp.com
 Australia and Asia                           Australia and Asia

 Josie Brophy                                 John-Paul Santamaria

 +61 417 622 839                               +61 499 006 018
 Europe, Middle East and Africa               Europe, Middle East and Africa

 Gabrielle Notley                             James Bell

 +61 411 071 715                              +44 7961 636 432
 Americas                                     Americas

 Renata Fernandez                             Monica Nettleton

 +56 9 8229 5357                              +1 (416) 518-6293
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 1  All financial obligations are presented on a real, undiscounted basis and
will accrue inflation at IPCA inflation rate. Payments will be made in
Brazilian Reais.

 2  All USD amounts throughout are calculated based on actual transactional
(historical) exchange rates related to funding provided to Fundação Renova
(Renova Foundation) for investment to date and future spend is calculated
using 28 June 2024 BRL/USD exchange rate of 5.56.

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