BHP plans to settle the Australian shareholder class action for 110 million Australian dollars.

On September 9th local time, BHP announced its intention to pay 110 million Australian dollars to settle a collective lawsuit from shareholders of the Australian company Samarco, without admitting any liability. The Australian shareholder collective lawsuit was filed on behalf of shareholders who purchased BHP shares before the Fundo tailings dam collapse in 2015. The Fundo tailings dam was owned and operated by Samarco. Samarco is a joint venture between BHP's subsidiary, BHP Billiton Brazil Ltd, and Vale SA, with each company holding a 50% stake.