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BHP settles Australian Samarco shareholders class action for $72 million
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Release time：2025-09-12
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This lawsuit was initiated by investors who purchased BHP shares before the collapse of the Fundão dam.
BHP has reached a settlement agreement to resolve the class action lawsuit by Australian Samarco shareholders, which is pending approval by the Australian Federal Court. The lawsuit was initiated on behalf of investors who purchased BHP shares before the 2015 Fundão tailings dam collapse. The class action was filed in 2018 in the Australian Federal Court, representing individuals who acquired shares in BHP Group Limited or BHP Group (UK) between August 8, 2012, and November 9, 2015. Samarco Mineração is the joint venture responsible for the Fundão dam, equally owned by BHP Brasil (a subsidiary of BHP Group Limited) and Vale. Under the settlement terms, BHP agreed to pay claimants AUD 110 million (USD 72.3 million), including interest and fees, without admitting any wrongdoing. The company expects to recover most of the amount from insurers.
Previously, the Brazilian Federal Court in November last year absolved Vale, BHP Group, and Samarco from criminal liability for the Fundão tailings dam collapse. The incident caused 19 deaths, left hundreds homeless, resulted in severe environmental damage, and heavily polluted the Doce River. Federal Court Judge Patricia de Carvalho ruled that there was insufficient evidence to hold these companies or the 21 individuals, including former executives, directly criminally responsible, and these 21 individuals were also acquitted.
Additionally, it has been reported that BHP Group and Vale have proposed a settlement of USD 1.4 billion (GBP 1.03 billion) to resolve the UK class action related to the dam collapse. In the case filed against BHP in London, the plaintiffs' lawyers estimate that potential losses could reach up to GBP 36 billion.
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