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Vale says expects judge to approve Samarco settlement soon

Reuters - UK Focus

LONDON, Dec (Shanghai: 600875.SS - news) 1 (Reuters) - Vale SA, the world's top iron ore producer, said a judge was soon to ratify a settlement with the Brazilian government regarding its Samarco iron ore joint venture with BHP Billiton (NYSE: BBL - news) .

General Counsel Clovis Torres told investors and analysts at a presentation in London that it "should not take long" for a judge in Brazil to approve the Samarco settlement.

Vale (Swiss: VALE.SW - news) and BHP reached a deal with the Brazilian government in March to pay an estimated 20 billion reais in damages over 15 years for a deadly dam spill in November 2015.

Considered Brazil's worst environmental disaster, the burst tailings dam in the state of Minas Gerais killed 19 people, left hundreds homeless and polluted a major river.

In Brazil a judge has to ratify a settlement for it to become legally binding.

(Reporting by Maytaal Angel and Eric Onstad in London and Stephen Eisenhammer in Brazil; Editing by Alexandra Hudson)