BHP Billiton says it has made progress in negotiations with Brazilian authorities for clean-up costs and damages relating to the Samarco dam disaster, but has not yet reached a settlement.
The mining giant on Friday said it was responding to recent media speculation that a settlement had already been reached.
"Significant progress has been made with the negotiations, and we are hopeful that an agreement will be reached," BHP said in a statement.
In November, a massive spill of waste material in a dam collapse at the Samarco mine in Brazil, which is co-owned by BHP and Vale, killed at least 17 people in what has been called the country's worst environmental disaster.
Brazil's federal attorney-general and public authorities in two states that were affected by the disaster, have asked the mining giants to set up a $US5 billion fund for clean-up costs and damages.
Earlier in February, BHP outlined a $US1.12 billion provision in its half year accounts against the Samarco business, but said it was too early to estimate the full financial impact.
BHP's chief executive Andrew Mackenzie and chairman Jac Nasser have been named in a lawsuit filed in the US by investors seeking damages over the fatal dam disaster.
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