Brazil's Mining Disaster Has Samarco Creditors Bracing for Worst
- Burst dams killed at least three, 25 missing after flooding
- Samarco bonds are worst-performing in emerging markets
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Brazil’s deadly mining disaster has investors questioning whether Samarco Mineracao SA can withstand the fallout.
Two dams at the iron-ore producer’s biggest operation burst five days ago, unleashing a torrent of muddy floodwater that killed at least three people and left 25 others missing. The site is now indefinitely closed. Deutsche Bank AG estimates that the cleanup costs may exceed $1 billion.