Samarco gets court approval to exit bankruptcy proceedings
me-metals: Brazilian miner Samarco, a joint venture between Vale and BHP, has received approval from a court in Minas Gerais state to exit bankruptcy protection proceedings, it said in a statement on Tuesday.
According to me-metals cited from mining.com, The process allowed Samarco to reorganize more than 50 billion reais ($9.28 billion) in liabilities involving around 10,000 creditors, the statement said. The proceedings were triggered by a 2015 dam collapse near the Brazilian city of Mariana which halted operations for several years.
($1 = 5.3896 reais)
source: mining.com
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