Brazil to seal $30 billion compensation deal with miners over 2015 dam collapse, sources say
Agreement set to be officially signed on Oct. 25 - four sources
Deal includes 170 bln reais in total compensation, with 100 bln over 20 years
Samarco to be primary obligor, Vale and BHP to cover 50% each of unmet obligations
Rewrites throughout with filings from Vale and BHP over the amount of the deal
RIO DE JANEIRO, Oct 18 (Reuters) -Miners Vale VALE3.SAand BHP BHP.AX are discussing a near $30 billion compensation agreement with Brazilian authorities related to the 2015 Marianadam collapse, they said on Friday, with a deal set to be signed on Oct.25, according to sources.
The collapse of the dam at a iron ore mine owned by Samarco, a joint venture between Vale and BHP, near the city of Mariana nine years ago unleashed a wave of toxic tailings in a disaster thatkilled 19 people, left hundreds homeless, flooded forests and polluted the length of the Doce River.
The three mining firms havebeen negotiating a compensation agreement with the country'spublic attorney, as well as state and federal authorities for years, hoping it would also end several court actions on the matter.
In separate securities filings, Vale and BHP said the version of the agreement currently being discussed would include atotal compensation of 170billion reais ($29.9 billion), with 100 billion reais to be paid through 20 years directly to public authorities.
The total amount also includes 32 billion reais to be spent by the firms in remediation and compensation measures, and a further38 billion reais that they have alreadydisbursed, according to Vale and BHP.
The agreement is set to be officially signed on Oct.25, four sources told Reuters on Friday. Localnewspaper O Globo had earlier in the day reported the date.
Vale and BHP did not say when they expect to sign the agreements. Samarco and Brazil's solicitor general office, whichis part of the negotiations, did not immediately respond to request for comments on the date.
Vale and BHP said Samarco would be the primary obligor for the payments, with the both owners paying 50% each of any obligations Samarco cannot fund.
Based on that, Vale on Friday forecast that its third quarter earnings will reflect 5.3 billion reais in new liabilities related to the dam's collapse.
($1 = 5.6897 reais)
Reporting by Rodrigo Viga Gaier and Marta Nogueira in Rio de Janeiro; additional reporting by Lisandra Paraguassu in Brasilia and Andre Romani in Sao Paulo; Editing by Sandra Maler and Marguerita Choy
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