The Star Late Edition - - BUSINESS REPORT - | Di­neo Faku

LEAD­ING global min­ing and met­als com­pany BHP Bil­li­ton ex­pects to com­plete the re­set­tle­ment of the com­mu­nity af­fected by the 2015 Samarco Dam burst in Brazil in the next two years. Speak­ing at the com­pany’s an­nual gen­eral meet­ing in Aus­tralia yes­ter­day, BHP Bil­li­ton chief ex­ec­u­tive Andrew Macken­zie said the com­pany had made progress on the re­de­vel­op­ment of the com­mu­ni­ties af­fected by the dam fail­ure in 2015. “Based on cur­rent plan­ning, it is ex­pected that all re­set­tle­ments will be com­pleted by 2020,” he said. In Oc­to­ber Brazil­ian pros­e­cu­tors reached a fi­nal com­pen­sa­tion deal with min­ing com­pa­nies Samarco, Vale and BHP Bil­li­ton, paving the way for com­pen­sa­tion to rel­a­tives of the 19 peo­ple killed in the dis­as­ter and to peo­ple who lost their houses and other prop­er­ties. The com­pany said the Ren­ova Foun­da­tion had dis­trib­uted al­most ten thou­sand fi­nan­cial as­sis­tance cards to res­i­dents, in­clud­ing reg­is­tered and in­for­mal com­mer­cial fishermen whose liveli­hoods were im­pacted by the dam fail­ure. BHP has trimmed its port­fo­lio to 13 op­er­ated as­sets, to fo­cus on as­sets that pro­duce strong cash flows.

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