Brazil to sign compensation deal with miners over 2015 dam disaster on Friday

Brazilian authorities will sign on Friday a long-awaited reparation deal with miners Vale, BHP and Samarco over the 2015 Mariana dam collapse, the country’s presidential office said on Wednesday.

The agreement will be signed in a ceremony attended by President Luiz Inacio Lula da Silva at 9 a.m. local time (1200 GMT) on Oct. 25, Lula’s office said.

Vale, BHP and Samarco said last week that the deal was expected to include a total compensation of 170 billion reais ($29.9 billion), with 100 billion reais of that to be paid through 20 years directly to public authorities.

The collapse of the dam at an iron ore mine owned by Samarco, a joint venture between Vale and BHP, unleashed a wave of tailings in a disaster that killed 19 people, left hundreds homeless, flooded forests and polluted a major river.

The three mining firms have for years been negotiating a compensation agreement with Brazilian authorities, hoping a deal would end several court actions on the matter.

(By Lisandra Paraguassu; Editing by Chris Reese and Marguerita Choy)

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