BHP, Vale, and Samarco's agreement in Brazil could impact the outcome of the English lawsuit

Shareholders of the mining companies are watching closely as the case progresses

The agreement could potentially lead to a reduction in the amount of damages that the companies are ordered to pay

In a recent development in the ongoing legal battle between BHP, Vale, and Samarco over the 2015 Mariana dam disaster in Brazil, the companies have reached an agreement with Brazilian authorities. The agreement, which was announced on 4 March 2023, includes a number of provisions, including the creation of a foundation to manage the compensation and reparation of damages caused by the disaster. The agreement is still subject to approval by the Brazilian courts, but it is expected to have a significant impact on the outcome of the English lawsuit, which is being brought by a group of shareholders in the mining companies. The shareholders are alleging that the companies were negligent in their operation of the dam, and that they failed to take adequate steps to prevent the disaster. The companies have denied the allegations, and the case is set to go to trial in London in October 2023. The agreement between the companies and Brazilian authorities could potentially lead to a reduction in the amount of damages that the companies are ordered to pay. This is because the agreement includes a provision that limits the liability of the companies to a maximum of R$20 billion (around £3 billion). The shareholders have argued that the agreement is unfair, and that it will allow the companies to avoid paying compensation for the full extent of the damage caused by the disaster. The outcome of the English lawsuit will be closely watched by shareholders in the mining companies, as well as by environmental groups and victims of the disaster.