BHP, Vale to Pay $30B for 2015 Brazil Dam Collapse
The Facts
On Friday, the Brazilian government signed a 170B reais ($29.85B) compensation deal with mining giants BHP, Vale, and Samarco to cover damages from the 2015 Mariana dam disaster.
38B reais have already been paid, with 5B reais due to be paid within 30 days. The rest of the funds must be paid through varying installments by 2043.
The Spin
Narrative A
Even though neither company was liable for the damage, they have been working to address the disaster's consequences, providing compensation and mitigating environmental impacts. The UK lawsuit is unnecessary and duplicates ongoing reparation work and legal proceedings in Brazil. The defendants have done right by the Brazilian people, organizations, and the environment.
Narrative B
The mining companies knew about the risks associated with increased production at the dam but didn't act. Moreover, they failed to take proper responsibility for the disaster in its aftermath. While this compensation is a step in the right direction, it falls short of truly holding the powerful mining giants to account, sidelines the victims' concerns, and offers an absurdly lenient payment plan — which is exactly why the UK suit is needed.
