BHP Billiton secures delay to Brazilian fine payments

FTSE 100 resources outfit BHP Billiton (LON:BLT) has reached an agreement to settle a BRL20 billion (£4 billion) civil claim and delays payments related to a separate BRL 155 billion (£31 billion) case related to the dam failure that killed 19 people at the company’s Samarco mine in Brazil. Under the terms of the agreement, the company will coordinate with the local authorities and communities over the next two years about the agreed remediation and compensation programmes.

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The mine remains closed and the company did not give an update about if or when operations would restart. Shares in BHP Billiton climbed 1.91% to 1,633.40p (as at 11:00 BST).