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Vale, BHP propose $238m DIP financing for Samarco -court document

Jun 15, 2021

Source: https://www.mining.com/web/vale-bhp-propose-dip-financing-for-samarco/

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EVale, BHP propose DIP financing for Samarco

Samarco’s dam burst killed 19 people, wiped out several towns and polluted rivers. (Image by Romerito Pontes | Flickr Commons)

Bankrupt miner Samarco Mineracao SA plans to receive a 1.2 billion reais ($238 million) debtor-in-possession loan extended by its controlling shareholders, Vale SA and BHP Group Ltd, to maintain its activity, according to court documents reviewed by Reuters.

But a group representing 80% of Samarco’s debt excluding Vale and BHP oppose the move, saying the DIP financing goal would be to protect Vale and BHP assets.

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Samarco’s dam burst killed 19 people, wiped out several towns and polluted rivers. (Image by Romerito Pontes | Flickr Commons)

But a group representing 80% of Samarco’s debt excluding Vale and BHP oppose the move, saying the DIP financing goal would be to protect Vale and BHP assets.

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