BHP Group Ltd (LSE:BHP, ASX:BHP) has reached a settlement in a class action brought by Australian investors over the Samarco dam disaster in Brazil.
The miner will pay US$110 million, including interest and costs, without admitting liability. The claim related to shareholders who purchased BHP stock between 2012 and November 2015, prior to the collapse of the Fundão tailings dam.
Samarco, jointly owned by BHP and Vale, operated the dam which failed in 2015, killing 19 people and causing significant environmental damage.
BHP said it expects to recover most of the settlement from insurers.