BHP -5.3% premarket after dam bursts at Brazil mine


Nov 6 2015, 08:29 ET | About: BHP Billiton Limited (BHP) | By: Carl Surran, SA News Editor

BHP Billiton (NYSE:BHP) -5.3% premarket and -5.7% in London as investors worried about the damage to a Brazilian iron ore operation it jointly owns caused by a major dam burst.

At least 17 people reportedly have died, with more than 30 injured and dozens missing, after a tailings dam at an iron ore mine in the Minas Gerais region of Brazil burst and devastated a nearby rural village with mudslides.

Samarco Mineração, the JV between BHP and Vale (NYSE:VALE), says it has not established what had caused the dam to burst; Vale -3.2% premarket.

The incident is shaping up as the most deadly incident in BHP’s long history in mining and a “devastating stain” on the company’s international reputation.

Publicado el noviembre 6, 2015 en News y etiquetado en , , . Guarda el enlace permanente. Deja un comentario.

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