BHP Says No Samarco Debt-Agreement Reached, No Plans to Reopen Yet

Date : 29/01/2019 @ 18:58
Source : Dow Jones News
Stock : Bhp Group Fpo (BHP)
Quote : 40.93  0.77 (1.92%) @ 18:50
Bhp Billiton share price Chart

BHP Says No Samarco Debt-Agreement Reached, No Plans to Reopen Yet

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   By Adria Calatayud 
 

BHP Group PLC (BHP.LN) said Tuesday that its Brazilian iron-ore mining venture Samarco Mineraçao SA hasn't reached an agreement on the restructuring of its financial obligations, and has no plans immediately to reopen.

Samarco's operations will restart only if it is safe and economically viable and has the support of the community, BHP said. For operations to resume will require the granting of licenses by state and federal authorities and community hearings, it said.

The Samarco mine has been shut since a 2015 tailings-dam collapse that killed 19 people,

BHP and Brazil's Vale S/A (VALE3.BR) each hold a 50% interest in Samarco.

 

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

 

(END) Dow Jones Newswires

January 29, 2019 02:43 ET (07:43 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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