Vale SA (VALE), BHP Billiton (BHP) to Face Brazilian Government Multibillion-dollar Lawsuit
Brazil’s federal government said that it will enter a joint civil action with the states of Minas Gerais and Espirito Santo against Brazilian mining company Samarco and its owners, Vale S.A. and BHP Billiton Limited, responsible for the breaking of a dam in Mariana region on November 5, 2015 that killed at least 15 people and caused several tens of million of cubic metres of mine waste. According to the UN, waste from the burst dam was toxic.
The lawsuit, which will be filed on Monday (November 30), aims to create a fund worth 20 billion reais (about US$5.2 billion) to promote the revitalization of the Rio Doce and compensate the victims of the disaster.
Vale S.A. (NYSE:VALE) stock touched a new 52-week low of $3.55 on Friday’s market activity to finally close at $3.57, down $0.16 (or -4.29%), with a total volume of 19,133,059 shares traded during the day
Vale S.A., a global mining company, has 5.15B Shares Outstanding, Market Capitalization (intraday) of $18.40B and VALE stock 52-week range is from $3.55 to $9.14 per share
Shares of BHP Billiton Limited (NYSE:BHP) reached a new 52-week low of $26.40 on Friday’s trading session, finishing at $26.98, down $0.55 (or -2.00%)
BHP Billiton, a leading global resources company, has 2.66B Shares Outstanding, Market Capitalization (intraday) of $71.78B and BHP stock one-year range is between $26.40 to $52.98 per share
Disclaimer: The disclaimer is to be read and fully understood before using our site, or joining our email list. GalaxyStocks is not a registered investment adviser. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Investors should always conduct their own due diligence with any potential investment, with independent research and other professional advice. Read full disclaimer at http://galaxystocks.com/disclaimer/