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Saving Grace

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Tuesday, 12/01/2015 9:59:37 AM

Tuesday, December 01, 2015 9:59:37 AM

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Brazil sues BHP, Vale for mine disaster.

Brazil has officially filed a 20B Brazilian reais ($5.2B) lawsuit against mining companies BHP Billiton (NYSE:BHP) and Vale (NYSE:VALE) to clean up what it says was its worst ever environmental catastrophe.In a speech to the COP21 climate change summit in Paris, President Dilma Rousseff blamed the mine disaster on the "irresponsible action of a company" and said the firms would be "severely punished."Besides additional pressure from a global commodity rout, BHP's shares have fallen 20% since the dam burst on Nov. 5.Previously: BHP shares get crushed under mine lawsuit (Nov. 30 2015)

http://seekingalpha.com/news/2956266-brazil-sues-bhp-vale-for-for-mine-disaster?uprof=45&dr=1#email_link
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