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Weekly Report - 03 December 2015 (WR-15-48)
BRAZIL: Government sues Samarco, Vale and BHP Billiton
The Brazilian government has filed a lawsuit against Samarco Mineração, the company responsible for a fatal and environmentally devastating dam collapse at its iron-ore mine, as well as its parent companies, Vale and BHP Billiton. Lawyers for the government are seeking R$20.2bn (US$5.2bn) in damages over a period of 10 years, including an immediate deposit of R$2bn (US$520m). Samarco has already agreed to set up a R$1bn emergency fund for cleaning and compensation costs. On top of this, the company has also been hit with a R$250m (US$66m) fine by the federal environmental agency, Ibama. Prosecutors are now openly assessing the possibility of Samarco’s bankruptcy in the wake of what the Brazilian government is calling the country’s “worst environmental disaster”.
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- BRAZIL: Government sues Samarco, Vale and BHP Billiton
- ARGENTINA: Macri rails against Fernández profligacy
- TRACKING TRENDS
- VENEZUELA: Opposition aspires to magic number
- COLOMBIA: Peace when white smoke shows
- TRACKING TRENDS
- MEXICO: Poor Pemex results as energy reform advances
- REGION: General elections throw up surprises
- PANAMA: Varela under fresh pressure over public corruption
- REGION: Femicides – finally getting more attention
- Costa Rican finances hostage to politicking
- Quotes of the week