November 24, 2016 / 9:37 PM / 2 years ago

BRIEF-BHP Billiton says it has approved further financial support for Samarco

* BHP Billiton has approved further financial support for samarco.

* amount of us$181 million has been approved to fund remediation and compensation programs identified under framework agreement

* a short-term facility of up to us$115 million will be made available to samarco to carry out remediation and stabilisation work

* this amount of us$181 million will be offset against group’s provision of us$1.2 billion, recognised as at 30 june 2016.

* funds will be released to samarco only as required and subject to achievement of key milestones

* bhp billiton brasil continues to work through options for restart with vale and samarco.

* “restart will occur only if it is safe and economic to do so and necessary approvals have been obtained from brazilian authorities” Source text for Eikon: Further company coverage:

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