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BHPBill - update on Samarco
This release provides a further update following the breach of the Fundão tailings dam and Santarém water dam at the Samarco Mineração S.A (Samarco) iron ore operation in Minas Gerais, Brazil which occurred on 5 November 2015. BHPBill and Vale each hold a 50 per cent interest in Samarco. Samarco has advised that, at this stage, there are 13 fatalities and six people who remain unaccounted for. Emergency services continue to search for the six missing people.
Samarco continues to work with the Government authorities in Brazil to relocate displaced people from temporary accommodation to rented housing. Relocation is expected to be completed in February 2016. Clean-up work has commenced in the Barra Longa area, focusing on access roads, housing and bridge repairs. Monitoring of the remaining dam structures at Samarco continues. Interim work to repair the damage to the dams and to reinforce parts of the structure has commenced.
Operations at Samarco remain suspended.
Samarco and local authorities continue to assess and monitor water quality in the Rio Doce river system. Where water supplies have been affected, alternative water supplies are being provided by Samarco, working with local authorities. Samarco has reported that tests on the sediments carried out by the Brazilian Geological Service (CPRM) from samples taken at four points in the Rio Doce river system over the period 14 November to 18 November 2015 indicate that concentrations of metals obtained at these sites do not significantly differ from the results produced by CPRM in 2010. Samarco reports that analysis by SGS Geosol, a company specialising in environmental geochemistry, has confirmed that the tailings are composed of materials that are not hazardous to human health, based on the hazard classification of the material under Brazilian standards.
Samarco has advised that the tailings material released as a result of the breach of the Fundão and Santarém dams is considered to be non-reactive and would be geochemically stable when introduced to the river system or ocean. As a result of the high volume of sand and clay tailings material that moved through the river system, a large number of fish died due to reduced oxygen uptake. Assessment of these impacts is ongoing. The tailings plume has reached the Atlantic Ocean and is dispersing. Samarco has developed a program for monitoring the plume in the ocean and authorities have provided direction on the scope of the required testing under the program. The Brazilian Federal Government and certain State governments have announced that, on 30 November 2015, they intend to commence legal proceedings against Samarco, Vale and BHPBill for clean-up costs and damages.
The announcement indicates that the legal action will demand that the companies establish a fund of BRL 20 billion in aggregate (approximately USD5.2 billion at current exchange rates) for environmental recovery and compensation. BHPBill has not received formal notice of the action at this stage. BHPBill confirms its commitment to supporting Samarco to rebuild the community and restore the environment affected by the breach of the dams. This includes plans, announced by Vale and BHPBill on 27 November 2015, to work together with Samarco to establish a voluntary, non-profit fund to support the recovery of the Rio Doce river system. A copy of the joint media statement issued by Vale and BHPBill on 27 November 2015 is attached. As announced at the Annual General Meeting of BHPBill Ltd. on 19 November 2015, the Board of BHPBill has established a separate sub-committee to assist the Board in overseeing the governance of BHPBill’s management and response to the events at Samarco. The members of the sub-committee are John Schubert (as Chairman), Jac Nasser, Lindsay Maxsted and Malcolm Brinded.
In addition, the Chief Executive Officer, Andrew Mackenzie, has asked BHPBill’s Forum on Corporate Responsibility to play a role in providing a high-level, strategic overview of the recovery processes and lessons learned for BHPBill. For over 15 years, the Forum on Corporate Responsibility has been a key component of BHPBill’s stakeholder engagement program, providing insight into current and emerging issues on a range of sustainability topics. The Forum comprises eight highly respected international civil society leaders as well as members of BHPBill’s Group Management Committee. Further information on BHPBill can be found at: www.bhpbilliton.com.
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BHPBill - results of AGM
The results of the business conducted at the meetings of shareholders of BHP Billiton Limited held in Perth, Australia on 19 November 2015 and BHP Billiton Plc held in London, United Kingdom on 22 October 2015 are available. As required by the Dual Listed Companies Structure, a poll was conducted on each of the proposed resolutions. With the exception of resolutions 10, 11 and 12 which are Class Rights Actions each resolution is a Joint Electorate Action. The poll results for BHP Billiton Limited and BHP Billiton Plc are attached.
The final proxy position for each company (excluding the proxy votes carried from one meeting to the other meeting by the Special Voting Shares) is detailed in Appendix 1. The additional information required in respect of BHP Billiton Plc by the United Kingdom’s Companies Act 2006 is provided in Appendix 2.
A copy of the resolutions passed including those constituting special business (being resolutions 10 to 14) at the closure of the poll today has been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.morningstar.co.uk/uk/NSM.
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BHP Billiton - retirement of director
Carlos Cordeiro will retire as an independent non-executive Director of BHP Billiton Ltd. and BHP Billiton with effect as of today, 19 November 2015.
As part of a dual listed company structure, the Group voluntarily notifies all stock exchanges on which either BHP Billiton or BHP Billiton Ltd. have primary or secondary listings, all those interests of directors of both entities in the securities of both entities (and changes to those interests) which are required to be disclosed under the Australian Securities Exchange (ASX) Listing Rules, the Listing Rules and Disclosure and Transparency Rules of the United Kingdom Listing Authority, the Australian Corporations Act, the United Kingdom Companies Acts and the Group’s Securities Dealing document.
The information required to be made available under Section 430(2B) of the UK Companies Act 2006 in relation to Carlos Cordeiro’s retirement is on the final page of this document. This information will also be made available on the BHP Billiton website.
BHP Billiton Ltd. and BHP Billiton confirm that Mr Cordeiro retired as a non-executive Director of the company with effect from 19 November 2015. The following information is provided in accordance with section 430 (2B) of the UK Companies Act 2006:
The company's Remuneration Report for the financial year ending 30 June 2016 will include the remuneration earned by Mr Cordeiro during his appointment as a non-executive Director for the financial year ending 30 June 2016.
Mr Cordeiro has not and will not receive any remuneration payments upon ceasing to be a Director of the company other than the company’s normal fees for an independent non-executive Director payable for the period from 1 July 2015 to 19 November 2015.
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BHP Billiton - 2015 AGM speeches
The following document has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do :
• BHP Billiton Limited 2015 AGM Presentation
The document will also shortly be available via BHP Billiton’s website: http://www.bhpbilliton.com/~/media/bhp/documents/investors/shareholderinfo/2015/1511 19_BHPBillitonLtd2015AGMPresentation.pdf
The meeting will be webcast at http://edge.media-server.com/m/p/bhdrzc2i
Further information can be found at www.bhpbilliton.com.
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BHPBill - CEO statement
BHPBill released a copy of the briefing statement by BHPBill CEO, Andrew Mackenzie to investors and analysts on the incident at the Samarco Mineração S.A (Samarco) iron ore operation in Minas Gerais, Brazil.
The audio recording of the briefing and the transcript will be available on the BHPBill website. Further updates will be provided when information becomes available.
Further information on BHPBill can be found at: www.bhpbilliton.com.
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BHPBill - Update on incident at Samarco
This update provides further information on the incident at the Samarco Mineração S.A (Samarco) iron ore operation in Minas Gerais, Brazil on Thursday, 5 November 2015. Each of BHPBill and Vale holds a 50 percent interest in Samarco. Samarco has advised that, at this stage, there are nine fatalities. Samarco has also advised that four people previously unaccounted for have been found and 19 people remain unaccounted for.
BHPBill’s immediate priority is the welfare of the Samarco workforce and the community. The local authorities have advised that through the emergency response, 637 people have been evacuated and temporary accommodation has been provided. Samarco and authorities are providing water and food aid to affected communities.
BHPBill and Vale have pledged to support Samarco in establishing an emergency fund for community support and rebuilding works. It is our intention to work with the authorities to ensure that this fund is functioning as soon as practicable. Minimising the environmental impact of this incident is also a priority and an Environmental Recovery Plan is to be developed by Samarco with the support of an external expert.
At this stage, the tailings extend 440 kilometres downstream and 11 communities have been affected. Samarco has put in place a water monitoring program for the ongoing analysis of the water quality of the Gualaxo do Norte, Carmo and Doce Rivers. Samarco is working with relevant authorities to manage river water quality and ensure availability of potable water.
Samarco employees have been put on paid leave and options are being considered by Samarco for managing the workforce longer term. Samarco is continuing to monitor the impacted tailings facilities, including the Germano dam. In conjunction with independent experts, Samarco is developing a plan to reinforce the dam structures and stabilise the area. Samarco operations were immediately stopped following the incident and Samarco’s operating licence has been suspended. The Samarco operations will remain suspended as authorities commence investigations and rectification work plans are developed.
Samarco and representatives of BHPBill and Vale are meeting with lead insurers in Brazil this week.
Further updates will be provided when information becomes available. Further information on BHPBill can be found at: www.bhpbilliton.com.
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BHPBill - Samarco joint venture statement
BHPBill CEO, Andrew Mackenzie, and Vale CEO, Murilo Ferreira, gave a joint statement regarding the incident at the Samarco joint venture iron ore operation in Minas Gerais, Brazil.
Further information on BHPBill can be found at www.bhpbilliton.com.
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BHPBill - Incident at Samarco
This update provides further information on the incident at the Samarco Mineração S.A (Samarco) iron ore operation in Minas Gerais, Brazil on Thursday, 5 November 2015. Each of BHPBill and Vale holds a 50 percent interest in Samarco.
The Samarco operations include a three tiered tailings dam complex. Within this complex, the Fundão dam failed and the downstream Santarém dam has been affected. This resulted in a significant release of mine tailings, flooding the community of Bento Rodrigues and impacting other communities downstream. The third dam in the complex, the Germano dam, is being monitored by Samarco. At this time, there is no confirmation of the causes of the tailings release.
BHPBill’s Chief Executive Officer, Andrew Mackenzie, will go to Brazil this week to understand first-hand the human, environmental and operational impacts of the incident. Meanwhile, BHPBill has offered its full support to help the immediate rescue efforts and to assist with the investigation.
BHPBill’s immediate priority is the welfare of the Samarco workforce and the local communities.
Details are still emerging in relation to the Samarco employees and contractors impacted by the incident. At this stage, Samarco has advised that there is at least one confirmed fatality with a further 13 members of the workforce missing. The number of people in the communities impacted by the incident is yet to be confirmed, but the local authorities have reported that, at this stage, there are at least 15 people from the communities unaccounted for.
BHPBill will continue to work with Samarco (operator), Vale, the local communities, local authorities, regulators and insurers to assess the full impact of this tragic incident. Further updates will be provided as soon as more information becomes available.
The Samarco operations have the capacity to produce 30.5 Mtpa of iron ore pellets and to process 32 Mtpa of concentrate. In the 2015 financial year, BHPBill’s share of production was 14.5 Mt and the contribution from Samarco was approximately 3 per cent of the BHPBill Group’s Underlying EBIT.
Following this incident, BHPBill’s iron ore production guidance for the 2016 financial year is under review. Further information on BHPBill can be found at: www.bhpbilliton.com.
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BHPBill - Incident at Samarco
BHPBill understands that a serious incident has occurred at Samarco Mineração S.A’s iron ore operation in Minas Gerais, Brazil. BHPBill holds a 50% interest in that entity. Samarco Mineração S.A is the operator. BHPBill is concerned for the safety of employees and the local community. BHPBill are in the process of obtaining more details from Samarco Mineração S.A. and will provide updated information on the situation as soon as we are in a position to do so.
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