Vale, BHP propose $25 billion deal to settle reparations for Mariana disaster

General view from above of a dam owned by Vale SA and BHP Billiton Ltd that burst, in Mariana, Brazil, November 10, 2015. Ricardo Moraes/File Photo

SAO PAULO - Vale, BHP and their joint venture Samarco have presented Brazilian authorities with a settlement proposal related to reparations for the 2015 Mariana tailings dam burst, which killed 19 people and left hundreds homeless.

The proposal, the Brazilian mining giant said in a securities filing on Monday, foresees the total payment of 127 billion reais ($24.88 billion), including 37 billion reais already disbursed.

($1 = 5.1037 reais)