Vale, BHP to Create Fund for Brazil Dam Burst Recovery
Mining companies Vale SA and BHP Billiton Ltd plan to create a fund for rebuilding efforts after two dams burst at their iron ore venture in Brazil, their chief executives said in a visit to the site on Wednesday.
Vale CEO Murilo Ferreira said Samarco, the joint venture operating the Germano mine complex, had shown it was able to deal with the disaster last Thursday that left at least six people dead and another 22 still missing.
(Reporting by Stephen Eisenhammer and Marta Nogueira; Writing by Brad Haynes and Caroline Stauffer)
