In a significant development‚ mining behemoths Vale BHP and their joint venture Samarco are on the brink of finalizing a compensation agreement for the Mariana dam disaster. Sources indicate that the deal‚ which will determine the total payout for damages is scheduled to be inked on Oct 25 (this year)
The catastrophic event‚ which occurred roughly nine years ago unleashed a torrent of toxic waste – resulting in 19 fatalities displacing hundreds and wreaking havoc on the environment. The collapse (near the city of Mariana) caused widespread destruction: flooding forests and contaminating the Doce River along its entire length
While Vale had previously hinted at an October resolution‚ the specific date remained undisclosed until now. Local publication O Globo was the first to report on the exact timing of the agreement
The forthcoming settlement aims to address the far-reaching consequences of the incident which has left a lasting impact on the region. Its important to note that the compensation amount will be expressed in Brazilian currency; at present one US dollar is equivalent to approximately 5‚69 reais
This agreement marks a crucial step towards accountability and reparation for one of Brazils most devastating environmental disasters in recent memory