Samarco and creditors to go through mediation about debt restructuring
Mining News Pro - Brazilian miner Samarco Mineracao and its financial creditors will begin formal mediation about a consensus debt restructuring plan in a court in Minas Gerais, the bankruptcy judge decided on Tuesday, according to a document seen by Reuters.
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Brazil steelmaker CSN drafting bid for miner Samarco
Mining News Pro - Brazilian steelmaker Companhia Siderurgica Nacional (CSN) is drafting an offer to acquire miner Samarco Mineracao SA, which will be presented to the bankruptcy court judge overseeing its debt restructuring, a person with knowledge of the matter said.
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Samarco’s financial creditors plan to take over the company
Mining News Pro - An alternate restructuring plan for Samarco Mineracao SA, a joint venture between Vale SA and BHP Group, proposes that financial creditors take control of the company.
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Samarco creditors reject debt restructuring proposal
Mining News Pro - Creditors of Brazilian miner Samarco Mineracao SA, a joint venture of Vale SA and BHP Billiton Ltd, on Monday rejected the debt restructuring plan presented by the company in an online creditors assembly.
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Samarco overhauls $10 billion restructuring proposal
Mining News Pro - Samarco Mineracao SA, an iron-ore producer jointly owned by Vale SA and BHP Group, presented a new plan to restructure its 50 billion reais ($10 billion) in defaulted debt in an effort to gain support from creditors.
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Samarco to add revenue, hit output goal sooner after Vale deal
Mining News Pro - Brazilian miner Samarco is expected to add $5.1 billion in net revenue by 2042 and bring forward its iron ore output goal after signing a 20-year production agreement with Vale SA, it said on Thursday.
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Damage from Brazil’s Samarco disaster at least $6.7bn, study says
Mining News Pro - The “socio-environmental” damage brought about by the 2015 rupture of a tailings dam in Brazil owned by miner Samarco is between 37.6 billion reais ($6.73 billion) and 60.6 billion reais, according to a study done by a company contracted by prosecutors to measure the costs of the disaster.
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Brazil prosecutors seek $457 million from Vale, Samarco, BHP for dam disaster
Mining News Pro - State prosecutors in the state of Minas Gerais have filed a lawsuit seeking 2.5 billion reais ($457 million) from miners Vale, Samarco and BHP related to a tailings dam disaster in 2015, according to a statement on Tuesday.
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Creditors in Brazil miner Samarco oppose restructuring plan
Mining News Pro - Creditors in bankrupt miner Samarco Mineracao, a joint venture between Vale and BHP Group, made on Thursday an objection to the company's restructuring plan, according to a court document.
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Brazil prosecutors seek final settlement over Samarco dam disaster
Mining News Pro - Federal prosecutors in Brazil are seeking a definitive settlement with miner Samarco and it's shareholders, BHP Group and Vale, for damages caused by the rupture of a tailings dam in 2015, the lead prosecutor said.
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Samarco files for bankruptcy protection
Mining News Pro - Samarco Mineracao SA, a joint venture between Brazilian miner Vale SA and BHP Group Ltd, has filed for bankruptcy protection to prevent creditors’ claims from affecting its operations, Vale said in a Friday securities filing.
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BHP and Vale’s Samarco hit with nearly $ 1 billion suit
Mining News Pro - BHP and Vale’s beleaguered Samarco joint venture in Brazil has been hit with an almost $1 billion lawsuit from noteholders who accuse the company of ignoring their requests to restructure their debt.
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BHP and Vale’s Samarco hit with $900 million suit
Mining News Pro - BHP and Vale’s beleaguered Samarco joint venture in Brazil has been hit with an almost $900 million (about A$1.16 billion) lawsuit from noteholders who accuse the company of ignoring their requests to restructure their debt.
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Samarco starts iron ore shipments to Europe
Mining News Pro - Samarco started its first iron ore shipment on Monday after restarting operations in December, five years after Fundão dam tragedy.
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Samarco expects to reach pre-2015 production by 2029
Mining News Pro - Samarco estimates that only in 2029 it should reach a production scale between 22 million and 24 million tonnes of iron ore per year, the same level as before the failure of the Fundão dam in November 2015.
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Operations restart at Samarco
Mining News Pro - Samarco Mineração S.A. has met the licensing requirements to restart operations at its Germano complex in Minas Gerais and its Ubu complex in Espírito Santo, Brazil, and has commenced iron ore pellet production, BHP announced Wednesday.
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Samarco to restart mining five years after deadly dam burst
Mining News Pro - Brazilian miner Samarco is planning to restart operations in late December, the company said on Friday, five years after a dam burst killed 19 people and resulted in Brazil`s worst ever environmental disaster.
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Samarco to resume production after Fundão dam tragedy
Mining News Pro - Samarco is expected to resume activities this month, five years after the Fundão dam tragedy.
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Vale eyes mine expansions, Samarco restart
Mining News Pro - Brazilian iron ore miner Vale SA is sending a proposal this month to the board for further expansion at its Northern System mining complex, and the company expects to restart operations at its Samarco complex in December, executives said on Thursday.
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Samarco rebuffs creditors on resumption of debt talks
Mining News Pro - Samarco Mineracao SA has rejected creditors’ formal request to resume talks to restructure its defaulted debt, signaling heightened risks for bond holders, according to people with direct knowledge of the situation.
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BHP earmarks $44 million for Samarco reopening four years after dam burst
Mining News Pro - BHP has approved $44 million for the restart of operations at Samarco Mineração, its iron ore joint venture with Vale in Brazil, four years after a deadly dam collapse that killed 19 people and became the worst environmental disaster in the country’s history.
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BHP and Vale’s Samarco licensed to restart operations
Mining News Pro - Samarco Mineração, a joint venture between Vale and BHP received on Friday its Corrective Operation License (LOC) for its operating activities in the Germano Complex, located in the state of Minas Gerais, Brazil.
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BHP and Vale’s Samarco licensed to restart operations
Mining News Pro - Samarco Mineração, a joint venture between Vale and BHP received on Friday its Corrective Operation License (LOC) for its operating activities in the Germano Complex, located in the state of Minas Gerais, Brazil.
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Samarco poised to reclaim mining license lost after accident
Mining News Pro - Samarco Mineracao SA, the Brazilian mining venture that hasn’t operated since a deadly dam collapse in 2015, is close to regaining a license to restart production and move closer to paying back $3.5 billion in defaulted debt.
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BHP, Vale finalise Samarco dam disaster compensation
Mining News Pro - Brazilian prosecutors in the state of Minas Gerais have reportedly come to an agreement about final compensation payments with Vale and BHP over the 2015 Samarco dam disaster.
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