Since the disastrous collapse of the tailings dam in the Brazilian state of Minas Gerais in November 2015 (which FACING FINANCE has reported on several times since the incident) the Brazilian public prosecutor’s office filed homicide charges against 21 executive staff members of the mining companies BHP Billiton (Australia), Vale S.A. (Brazil) and Samarco Mineração, which is a joint-venture between Vale and BHP Billiton. ... →
Brazil’s state police have found the mining company Samarco, a joint venture between Vale S.A. and BHP Billiton, accountable for willful misconduct in connection with the fatal tailings dam break in November 2015. After a seven month investigation, ending in early June 2016, police concluded that Samarco ignored signs of damage for years, for example cracks which indicated towards a risk of fracture. ... →
After the disastrous spill in Brazil, 13 deaths have been confirmed, with more still missing. BHP Billiton and Vale are now likely to have to pay 4.9 billion euros which will be used for decontamination of the river Rio Doces and compensation to affected people. The operators of the mine continue to dispute that toxic substances were released when the dam broke. ... →
The investigation against BHP Billiton for violating US bribery laws has been going on for four years. The accusation is concerned with gifts and services for government officials during the Olympics in Beijing and with bribery allegations in other construction projects. Supposedly, BHP already acknowledged some of the accusations. The US Securities and Exchange Commission and the Department of Justice have now informed BHP about possible consequences without specifying the potential degree of penalties. ... →
Polish news website NaTemat.pl conducted an extensive interview with Daniel Ribeiro. Daniel explains in an interview how the multinational corporations use weakness of the developing countries. Moreover Daniel speaks about ineffective voluntary practices in the area of human rights and what impact financial institutions have on developing countries.