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Shares in BHP tumble after Brazil suit

BHP shares were down 9.4 per cent on news that Brazil has launched a $A57.4 billion suit over the dam break that killed 19.

Debris awash in mud following a dam break in Brazil
BHP shares were down 9.5 per cent on news that Brazil has launched a suit over the dam break. (AAP)

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Source: AAP


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Shares in miner BHP Billiton Ltd have tumbled after Brazil's Federal Public Prosecution said it had launched a $US43 billion ($A57.4 billion) civil suit for a dam break that killed 19 people and caused the worst environmental disaster in the country's history.

BHP said on Wednesday the suit seeks social, environmental and economic compensation in relation to the failure of the dam at the Samarco iron ore operation.

Samarco is a joint venture of the giant mining companies Vale of Brazil and BHP Billiton of Australia.

The dam failed in November and unleashed a flood of toxic mud that destroyed several towns, killing people and damaging the environment.

BHP said it remains committed to helping Samarco to rebuild the community and restore the environment.

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Shares were down 9.4 per cent to $A18.79.


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