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BHP BILLITON PLC - Samarco Update

Release Date: 22/12/2017 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               22 December 2017
Location           Melbourne
Release Number     37/17



SAMARCO UPDATE

BHP has agreed to fund a total of up to US$181 million (BHP Billiton Brasil Ltda
(BHP Brasil) share) in financial support for the Renova Foundation and Samarco
Mineração S.A. (Samarco) until 30 June 2018.

An amount of US$133 million will be used to fund the Renova Foundation to
undertake remediation and compensation programs identified under the agreement
dated 2 March 2016 between Samarco, Vale S.A., BHP Brasil and the Brazilian
Authorities. This amount will be offset against the Group’s provision for the Samarco
dam failure.

An amount of US$48 million will be made available to Samarco. This amount
includes a short-term facility of up to US$42 million (BHP Brasil’s share) to carry out
ongoing repair works, maintain Samarco’s facilities and support restart planning, and
an amount of US$6 million to cover fees payable to experts appointed in connection
with the remediation and compensation programs. Funds will be released to
Samarco only as required, and subject to achievement of key milestones.

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

Note:

Samarco Mineração S.A. is jointly owned by BHP Billiton Brasil Ltda and Vale S.A. Our 50
per cent interest is accounted for as an equity accounted investment.

Sponsor: UBS South Africa (Pty) Limited




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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




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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