Vale-BHP's Samarco expects to make the last shipment of its remaining iron ore pellets stock by mid-January, the company said Monday.
Samarco had its mining operations suspended by Brazil's Minas Gerais state after the collapse of two tailing dams there in the first week of last November. Since then, it has been selling its stocked material at its Espirito Santo state facilities, initially expected to end by December 2015.
"Samarco confirms that the pellets stocks virtually exhausted and the shipment of that remaining material will be in the first half of January to China," it said in an emailed statement.
Penalties against company following the disaster have so far surpassed Real 20 billion ($4.9 billion). Moreover, a federal court in Minas Gerais state ruled that Samarco has to comply with an initial deposit of Real 2 billion until January 22 to fund a recovery plan for the damages, with a penalty of Real 1.5 million/day for delays.
The court has also blocked the assets of Vale and BHP Billiton as it said Samarco itself does not have enough assets to alone pay the total penalties fees for the social and environmental damage.
