By Rhiannon Hoyle 
 

SYDNEY--BHP Billiton Ltd. (BHP.AU) said it will record a provision totaling US$1.1 billion to US$1.3 billion in relation to last year's dam failure at Brazilian iron-ore mining operations it jointly owns with Vale SA (VALE).

That amount "is approximately equivalent to a 50% share of the current estimate of Samarco's funding obligations under the terms of the framework agreement entered into on March 2," BHP said in a regulatory filing.

It said it will also record direct costs of roughly US$100 million after tax. BHP will report its annual financial results next month.

 

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

 

(END) Dow Jones Newswires

July 27, 2016 19:02 ET (23:02 GMT)

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