Brazil Settles $30 Billion Dam Disaster Claims

Brazil's federal government has finalized a landmark settlement with Samarco, a joint venture of Vale and BHP, requiring them to pay 132 billion reais (USD 23 billion) over 20 years for the devastating 2015 Mariana dam collapse, which killed 19 people and caused extensive environmental damage. President Luiz Inácio Lula da Silva criticized the mining companies for prioritizing profit over safety during a ceremonial announcement in Brasília. The settlement includes compensation for over 300,000 victims, although a class action lawsuit in the UK seeks additional reparations for a total of 620,000 affected individuals. The first installment of five billion reais is due within 30 days, with subsequent payments scheduled until 2043. The agreement follows previous reparations of 38 billion reais, and it aims to address both human and environmental restoration in affected areas. Legal battles are anticipated to continue, particularly in the UK, amid concerns that the Brazilian deal may not cover all losses.