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BHP Says No Deal Reached On Samarco Debt

(RTTNews.com) - BHP (BHP.AX, BLT.L, BBL, BHP) said that no agreement has been reached on the restructuring of Samarco's unsecured financial obligations, following a 2015 mine disaster.

BHP noted that the restart of Samarco's operations will occur only if it is safe, economically viable and has the support of the community. Resuming operations requires the granting of licences by state and federal authorities and community hearings, among other requirements.

The statement comes after a second deadly dam burst in Brazil on Friday at a mine owned solely by Vale.

BHP Billiton Brasil and Vale S.A. each hold a 50 per cent interest in Samarco.

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