Brazil court approves March deal with Samarco

Anna Edgerton and R.T. Watson

Updated May 6, 2016 – 7.15am, first published at 6.25am

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Vale and BHP Billiton's Brazilian iron-ore venture received judicial ratification for its settlement with federal and state governments over compensation for a tailings dam spill in November.

A federal judge signed off on the March accord, in which Samarco Mineracao agreed to pay about 12 billion reais ($US3.4 billion) over 15 years to clean up environmental damage caused by the November disaster and assist victims. Samarco is attempting to resume operations to help pay for the damage.

Bloomberg