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Fri, 22 Dec 2017	Official Announcement [RD]
BHPBill - Samarco update BHP has agreed to fund a total of up to USD181 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 USD133 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 USD48 million will be made available to Samarco. This amount includes a short-term facility of up to USD42 million (BHP Brasil’s share) to carry out ongoing repair works, maintain Samarco’s facilities and support restart planning, and an amount of USD6 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.
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