Brazilian miner to pay more than $500 million for dam disaster
Posted On: Aug. 16, 2018 5:49 AM CST
Brazilian miner Samarco Mineracao S.A. is likely to pay up to 2 billion Brazilian real ($512.5 million) to 19,000 families this year for a 2015 mining disaster, Reuters reported. A dam designed to hold back mine waste burst in the state of Minas Gerais in November 2015, killing 19 people and damaging the environment for hundreds of kilometers. The Renova Foundation, set up to help the disaster's victims, has spent more than BRL 4 billion so far to repair damages.