September 26, 2016 10:45 AM ET

Metals and Mining

Company Overview of Samarco Mineração S.A.

Company Overview

Samarco Mineração S.A., a mining company, produces and sells various types of iron ore pellets to steelmakers worldwide. It is involved in the mining, beneficiation, and concentration of iron ore, as well as the transportation of concentrated ore through ore pipelines. The company offers direct reduction pellets and blast furnace pellets. It also operates a hydroelectric plant in Muniz Freire; and provides logistics services at port, such as renting and tug boats, leasing land, and selling non-agglomerated iron ore. Samarco Mineração S.A. was founded in 1977 and is based in Belo Horizonte, Brazil. Samarco Mineração S.A. is a joint venture of BHP Billiton Brasil Ltd and Vale S.A.

Rua Paraiba, 1122 - 9 and.

Belo Horizonte, MG 

Brazil

Founded in 1977

Phone:

55 31 3269 8629

Key Executives for Samarco Mineração S.A.

Acting Chief Executive Officer, Chief Commercial Officer and Member of Executive Board
Chief Executive Officer, Member of Executive Board and Member of Business Conduct Committee(Leave of absence)
Age: 45
Chief Financial Officer, Supplies Officer and Member of Executive Board
Acting Chief Operation Officer and Member of Executive Board
Chief Operating Officer and Member of Executive Board (Leave of absence)
Compensation as of Fiscal Year 2016.

Samarco Mineração S.A. Key Developments

Vale S.A. Announces the Dismissal of Public Civil Action against Samarco Mineração S.A., BHP Billiton Brasil Ltda. and Vale

Vale S.A. (Vale) announced that the public civil action filed at 5ª Vara Federal of Rio de Janeiro by Sohumana Sociedade Humanitária Nacional (Sohumana) against Samarco Mineração S.A. and its shareholders, BHP Billiton Brasil Ltda. and Vale was dismissed without prejudice and the decision has become final, therefore not subject to appeal. The public civil action filed by Sohumana was seeking the indemnification payment for the environmental and proprietary damages supposedly caused by the accident at the Samarco Fundao taillings dam, at the city of Mariana, in Minas Gerais state. The plaintiff attributed the value of BRL 20,000,000,000.00 to the cause.

Samarco Mineração S.A, Vale and BHP Billiton Brasil Ltd Enter into an Agreement with the Federal Attorney General of Brazil, the States of Espirito Santo and Minas Gerais and Certain Other Public Authorities for the Restoration of the Environment and Communities Affected by the Samarco Dam Failure

On 2 March 2016, BHP Billiton announced that Samarco Mineração S. A (Samarco), Vale and BHP Billiton Brasil LTDA (BHP Billiton Brasil) had entered into an agreement with the Federal Attorney General of Brazil, the States of Espirito Santo and Minas Gerais and certain other public authorities (Brazilian Authorities) for the restoration of the environment and communities affected by the Samarco dam failure. On 5 May 2016, the Federal Court of Appeal in Brasilia ratified the Agreement. The Agreement provides a framework that Samarco, its shareholders and the Brazilian Authorities agree is the best way of managing the ongoing response to the Samarco tragedy. The Agreement creates a Foundation that will put in place a comprehensive range of programs to address the social, economic and environmental consequences of the dam failure. The programs will be informed by science and reflect the needs of the community.

Samarco, Vale and BHP Billiton Face $43 Billion Lawsuit for Samarco Dam Disaster in Brazil

The Federal Public Prosecution Service in Brazil has filed a BRL 155 billion ($43 billion) lawsuit against Samarco and its two shareholding companies Vale and BHP Billiton over the Samarco dam disaster occurred in 2015. The firms will pay the social, environmental and economic compensation related to the Fundão dam disaster at the Samarco iron ore operation in Minas Gerais, Brazil on 5 November 2015, which reportedly killed as many as 19 people. On 2 March 2016, Samarco, Vale and BHP Billiton have signed a settlement agreement with the Brazilian authorities over the dam disaster, which is claimed to be the country's worst environmental disaster ever.

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