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BHP and Vale could be fined big-time for collapsed dams

Mining groups BHP Billiton and Vale could receive sizeable fines from Brazilian authorities following a disaster last week, reports the Wall Street Journal.

Mining companies BHP Billiton and Vale could face major fines from Brazilian authorities following a disaster last week that may have resulted in the death of 27 people, reports the Wall Street Journal.

The two mining groups were hoping that the fines would only hit the mutually-owned joint venture Samarco and not the parent companies, but authorities as well as lawyers in Brazil are looking at the two mining giants' coffers if Samarco is unable to cover the costs.

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