BHP Group Limited Update – United Kingdom group action
12 Julio 2024 - 6:04AM
RNS Regulatory News
RNS Number : 2616W
BHP Group Limited
12 July 2024
BHP Group Limited
Exchange release
12 July 2024
Update - United Kingdom group action
BHP announces that it has entered
into an agreement with Vale S.A (Vale) in relation to group action
proceedings in the United Kingdom in
respect of the Fundão Dam failure in Brazil.
The Fundão
Dam was owned and operated by Samarco, a
non-operated joint venture between BHP Billiton Brasil Ltda
(BHP Brasil) (a subsidiary
of BHP Group Limited) and Vale. Each of BHP Brasil and Vale holds
50 per cent of Samarco.
BHP Group Limited and BHP Group (UK)
Limited (BHP) are
defendants to a group action claim in the English High Court,
brought by over 600,000 claimants seeking damages in relation to
the Fundão Dam failure in 2015 (the English
Proceedings). BHP does not consider that it is liable to the
claimants in the English Proceedings and will continue to defend
the English Proceedings. BHP believes the English Proceedings are
unnecessary because they duplicate matters already covered by the
existing and ongoing work of the Renova Foundation and legal
proceedings in Brazil.
In March 2024 a new claim was filed
against Vale and the Dutch subsidiary of Samarco in the Netherlands
on behalf of approximately 78,000 Brazilian claimants for
compensation relating to the Fundão Dam
failure (the Netherlands
Proceedings). BHP is not a
defendant in the Netherlands proceedings.
BHP, BHP Brasil and Vale have
entered into an agreement for
BHP and Vale to each pay 50% of any
amounts potentially
payable to the claimants in the English
Proceedings, the Netherlands Proceedings and other proceedings in
Brazil covered by the agreement without any admission of liability
for these proceedings. The agreement reinforces the terms of the
Framework Agreement entered into in 2016 which require BHP Brasil
and Vale to each contribute 50% to the funding of the Renova
Foundation for compensation of persons impacted by the
Fundão Dam failure where
Samarco is unable to contribute that funding.
BHP brought a contribution claim
against Vale in December 2022 because the English Proceedings were
not brought against Vale. The contribution claim contends that if
BHP's defences are not successful and it is ordered to pay damages
to the claimants in the English Proceedings, Vale should contribute
to any amount payable. BHP will withdraw the contribution claim
against Vale as it is no longer necessary given the agreement with
Vale.
BHP Brasil remains committed to
continue supporting the local remediation efforts in Brazil through
the Renova Foundation. Those efforts have already provided
approximately US$3.5 billion in compensation and direct financial
aid in relation to the dam failure to approximately 430,000 people
to 31 May 2024.
Authorised for release by Stefanie Wilkinson,
Group General Counsel and Group Company Secretary
Contacts
|
Media
media.relations@bhp.com
|
Investor Relations
investor.relations@bhp.com
|
Australia and
Asia
Gabrielle Notley
+61 411 071 715
|
Australia and
Asia
John-Paul Santamaria
+61 499 006 018
|
Europe, Middle East and Africa
Neil Burrows
+44 7786 661 683
|
Europe, Middle East and Africa
James Bell
+44 7961 636 432
|
Americas
Renata Fernandaz
+56 9 8229 5357
|
Americas
Monica Nettleton
+1 (416) 518-6293
|
BHP
Group Limited
ABN 49 004 028 077
LEI WZE1WSENV6JSZFK0JC28
Registered in Australia
Level 18, 171 Collins Street
Melbourne
Victoria 3000 Australia
Tel: +61 1300 55 4757 Fax: +61 3 9609
3015
BHP Group is headquartered in
Australia
bhp.com
|
|
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