Vale and BHP Submit Mine Plan for Samarco Mine, Brazil
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Reuters reported that Vale CFO Luciano Siani said that a business plan for Samarco, a joint venture of Vale and BHP Ltd in Brazil, had been sent to the company’s creditors this week, a key step toward resuming operations at the troubled iron ore mine.
The Samarco mine has been paralyzed since 2015, when a tailings dam burst, killing 19 people and devastating a major watershed in Brazil’s worst man-made environmental disaster.
Last month, Chief Executive Officer Fabio Schvartsman said he thought the mine could resume production in 2020, after Samarco, Vale and BHP inked a deal with Brazilian authorities settling a 20 billion reais ($5.3 billion) lawsuit.
Source: Steel Guru
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