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Brazil's mining disaster impacts BHP Billiton shares on fears of cleanup costs

Wednesday, November 11th 2015 - 07:07 UTC
Full article 4 comments

Investors continued to dump shares in mining giant BHP Billiton Ltd. following the deadly dam burst last week at its jointly owned iron-ore mine in Brazil, even as the company sought to clarify responsibility for the disaster that has already claimed the lives of three people. Read full article

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  • Hepatia

    Not surprising. I don't understand why anybody would invest in British equities.

    Notice how BHP has gone very quiet now that a Brazilian federal prosecutor has launched a criminal investigation. This is a shame because we will miss the delight of hearing a British company executive state that he (never a she) would prefer to be on his yacht in the Mediterranean than to be involved in cleaning up the mess.

    Nov 12th, 2015 - 11:52 pm - Link - Report abuse 0
  • Skip

    Sometimes staying silent is the intelligent thing to do when there are legal considerations taken into account.

    Pity no Argentine or Brazilian leader has ever learnt this trait.

    Screeching in the hope that lies will be mistaken for the truth isn't a British trait. Rather, as you have so aptly proven time and time again, it is the trait of many from certain Latin American countries.

    BHP Billiton will pay what it is legally required to pay. It is a pity your morals won't let you hold your own government to the same standard.

    But then again, what more can one expect from an Argentinean education.

    Nov 17th, 2015 - 12:21 pm - Link - Report abuse 0
  • Hepatia

    An Australian expatriate (or 'refugee' as we like to term them) colleague tells me that the Brits are now complaining bitterly about the share price and are trying to force the company to welch on their obligations to to Brazil and its people. This British caused disaster is going to take 10 to 20 years to effect even a partial cleanup. The Brazilians should liquidate BHP and use the proceeds to rectify the damage they have caused. This is what the US should have done with British Petroleum in the Gulf!

    Nov 20th, 2015 - 02:55 am - Link - Report abuse 0
  • Skip

    Wow you call expatriates, refugees?

    Seems you prove my point about Argentinean education. I'm definitely not going to stop you sounding like a fool. So please continue doing this.

    So Brits are complaining about BHP Billiton's share price? Wow. Ummmmmm that's...... yeah.......... really irrelevant. More so considering the headquarters are in Melbourne and not the UK. So unsure what they can do.

    I so love to hear that all your friends are complaining and losing money. So sad. Guess they'll be happier now the share price has stabilised and even jumped up a little. But then the mining boom ended a while ago so they don't sound like they're too switched on.

    I mean, the share price has been dropping pretty much for 5 years. When were they planning on bailing? In 25 years?

    Anyway your fantasy of Brazil liquidating BHP is just that. As you said, the yanks were powerless to do it to BP so Brazil is going to be even more apathetic.

    The chances of liquidation by Brasilia is about as high as the Falklands finally becoming Argentinean.

    0%

    Brazil might just have to liquidate Vale instead. No loss, it's only a Brazilian company. And it'll have to stump up half of any fines or costs. It only earns half of what BHP does.

    Oh no. Do your British refugee friends also own shares in Vale? That would be a shame.

    Nov 20th, 2015 - 02:43 pm - Link - Report abuse 0

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