By Rhiannon Hoyle

SYDNEY--BHP Billiton Ltd. (BHP.AU) said it will offer up to US$211 million in financial support for its Brazilian iron-ore joint venture, Samarco Mineracao SA, and the Renova Foundation, an institute established after the deadly 2015 tailings dam failure at Samarco's operations.

BHP said US$158 million will go toward Renova Foundation's remediation and compensation programs, and will be offset against the BHP's earlier provision for the Samarco dam failure.

A short-term facility of up to US$53 million will also be made available to Samarco for repair work, maintenance and planning tied to a restart of the operations.

"Funds will be released to Samarco only as required, and subject to achievement of key milestones," said BHP in a statement.

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

(END) Dow Jones Newswires

June 28, 2018 18:54 ET (22:54 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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