REG - BHP Group Limited - Update – United Kingdom group action

BHPAnnouncement

15/03/2023 17:00

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RNS Number : 1212T  BHP Group Limited  15 March 2023

NEWS RELEASE

 Release Time    IMMEDIATE
 Date            15 March 2023
 Release Number  06/23

Update - United Kingdom group action

BHP notes recent media commentary regarding the addition of new claimants to
the United Kingdom group action complaint related to the Fundão Dam collapse.

 

BHP Group Limited and BHP Group (UK) Limited (formerly BHP Group Plc) are
defendants to a group action brought by claimants in the English High Court
seeking damages for alleged losses in relation to the Fundão Dam collapse in
2015 (the English Proceedings). The Fundão Dam was owned and operated by
Samarco Mineracao S.A. (Samarco), a non-operated joint venture between BHP
Billiton Brasil Ltda (BHP Brasil) (a subsidiary of BHP Group Limited) and Vale
S.A (Vale). BHP Brasil and Vale each hold a 50 per cent interest in Samarco.

 

BHP filed its defence to the English Proceedings in December 2022 and denies
the claims in their entirety. On 25 February 2023, a further claim was filed
to add approximately 500,000 new claimants to the English Proceedings. Full
details of the claims have not been received and the amount of damages sought
in the English Proceedings remains unspecified.

 

As noted in BHP's results for the half year ended 31 December 2022, the
Group's provision related to the Samarco dam failure is US$3.122 billion as at
31 December 2022. Further details of the Group's provisions and contingent
liabilities related to the Fundão Dam collapse are also set out in BHP's
financial statements for the full year ended 30 June 2022. Given the status of
the English Proceedings, it is not possible to provide a range of possible
outcomes or a reliable estimate of potential future exposures to BHP in
connection with these proceedings.

 

BHP will continue to defend the English Proceedings which it believes are
unnecessary because they duplicate matters already covered by the existing and
ongoing work of the Renova Foundation and legal proceedings in Brazil. All
claimants have avenues in Brazil to resolve any potential claims including
avenues established through the Brazilian Courts.

 

BHP Brasil remains fully committed to supporting the extensive ongoing
remediation and compensation efforts in Brazil through the Renova Foundation.
The Renova Foundation has spent R$28.1 billion (approximately US$5.9 billion)
on comprehensive remediation and compensation programs to 31 December 2022.
This includes over R$13.5 billion (over US$2.6 billion) paid in indemnities
and emergency financial assistance to approximately 410,000 people. In
addition, approximately 70% of the resettlement cases for the communities
impacted by the Fundão Dam collapse have been completed.

 

 

 

Authorised for lodgement by:

Stefanie Wilkinson

Group Company Secretary

 

 

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