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