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International

Dam burst likely to cost miners BHP Billiton and Vale over $1 billion: Analyst

November 10, 2015 Reprints

A Deutsche Bank A.G. analyst has said that the recent dam burst at a mine in Brazil is likely to cost its owners BHP Billiton Ltd. and Vale S.A. more than $1 billion, reported Business Spectator.

The analyst described the dam burst at the mine in the Brazilian state of Minas Gerais as "catastrophic" and said that mine could be closed until about 2019.

The incident would damage the reputations of both miners BHP and Vale, said an analyst at investment bank Jefferies L.L.C.

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Dam burst likely to cost miners BHP Billiton and Vale over $1 billion: Analyst

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