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BHP BILLITON PLC - Samarco Update

Release Date: 21/11/2017 07:05
Code(s): BIL     PDF:  
Wrap Text
Samarco Update

BHP Billiton Plc
Registration number 3196209
Registered in England and Wales
Share code: BIL
ISIN: GB0000566504




NEWS RELEASE

Release Time       IMMEDIATE
Date               21 November 2017
Location           Melbourne
Release Number     35/17



SAMARCO UPDATE

Samarco Mineração S.A. (Samarco) and its shareholders, Vale S.A. (Vale) and BHP
Billiton Brasil Ltda (BHP Brasil), have entered into an agreement (Amendment
Agreement) with the Federal Prosecutors’ Office in Brazil (Federal Prosecutors)
and the Minas Gerais State Prosecutors Office (State Prosecutors). The
Amendment Agreement amends the preliminary agreement entered into on 18
January 2017 in relation to the Samarco dam failure (Preliminary Agreement).

The Preliminary Agreement outlines the process and timeline for negotiation of a
settlement of the BRL 155 billion (approximately US$47.6 billion) and BRL 20 billion
Public Civil Claims (approximately US$6.1 billion) relating to the dam failure (Public
Civil Claims). It also provides for the appointment of various experts to advise the
Federal Prosecutors.

The Preliminary Agreement suspends a BRL 1.2 billion (approximately US$0.4
billion) injunction order under the BRL 20 billion Public Civil Claim and requests
suspension of that claim, with a decision pending. The BRL 155 billion Public Civil
Claim is also suspended, including the BRL 7.7 billion (approximately US$2.4 billion)
injunction requested by the Federal Prosecutors. Under the Preliminary Agreement,
Samarco, Vale and BHP Brasil have provided interim security to the Court.

The Amendment Agreement provides for the State Prosecutors to become a party to
the Preliminary Agreement. It also provides for additional community consultation.
The Amendment Agreement includes a process for seeking to agree new
socioeconomic experts to advise the Federal Prosecutors, and contains some further
requirements as to how those experts would conduct their work.

The Amendment Agreement is subject to ratification by the 12th Federal Court.




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Samarco, Vale, BHP Brasil and the Federal Prosecutors have also jointly requested,
and the 12th Federal Court has approved, an additional 150 days, ending on 20 April
2018, for the parties to continue negotiations for the settlement of the Public Civil
Claims.

During the 150 day extension period, the interim security arrangements provided to
the 12th Federal Court and the current suspension of legal proceedings and
injunctions under the Preliminary Agreement will remain in place.

Further information on BHP can be found at: bhp.com




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Media Relations                                                Investor Relations

Email: media.relations@bhpbilliton.com                         Email: investor.relations@bhpbilliton.com


Australia and Asia                                             Australia and Asia

Ben Pratt                                                      Tara Dines
Tel: +61 3 9609 3672 Mobile: +61 419 968 734                   Tel: +61 3 9609 2222 Mobile: +61 499 249 005

United Kingdom and South Africa                                United Kingdom and South Africa

Neil Burrows                                                   Rob Clifford
Tel: +44 20 7802 7484 Mobile: +44 7786 661 683                 Tel: +44 20 7802 4131 Mobile: +44 7788 308 844

North America                                                  Americas

Judy Dane                                                      James Wear
Tel: +1 713 961 8283 Mobile: +1 713 299 5342                   Tel: +1 713 993 3737 Mobile: +1 347 882 3011


Sponsor: UBS South Africa (Pty) Limited




BHP Billiton Limited ABN 49 004 028 077                        BHP Billiton Plc Registration number 3196209
LEI WZE1WSENV6JSZFK0JC28                                       LEI 549300C116EOWV835768
Registered in Australia                                        Registered in England and Wales
Registered Office: Level 18, 171 Collins Street                Registered Office: Nova South, 160 Victoria Street
Melbourne Victoria 3000 Australia                              London SW1E 5LB United Kingdom
Tel +61 1300 55 4757 Fax +61 3 9609 3015                       Tel +44 20 7802 4000 Fax +44 20 7802 4111




Members of the BHP Group which is headquartered in Australia
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