BHP approves $181 million in compensation over Samarco disaster

Reuters News
Posted: Nov 24, 2016 4:59 PM

SYDNEY (Reuters) - BHP Billiton said on Friday it had approved $181 million to fund remediation and compensation programs at its Samarco iron ore joint venture in Brazil following a deadly dam burst in November 2015.

BHP said the funding will be offset against a $1.2 billion provision recognized on June 30, 2016.

(Reporting by James Regan; Editing by Toby Chopra)