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Brazilian court seizes fund from company responsible for mining disaster

Xinhua, November 14, 2015 Adjust font size:

A Brazilian court ordered Friday a provisional seizure of 300 million reais (78 million U.S. dollars) from Samarco, a company responsible for the burst of two tailings dams in which at least nine people were killed and 18 others are still missing.

The seized fund, which will be used to help the over 550 homeless people suffering from both material and immaterial damages, "was compatible with the extensiveness of the damage," according to a state court in Minas Gerais, where the disaster took place.

However, the judge asked Brazilian people not to "demonize" Samarco, as the company was operating legally, and "had created direct and indirect jobs, paid taxes, and shown itself to be an important actor in the local, regional and Brazilian economy."

Samarco was fined 250 million reais (65.2 million U.S. dollars) on Thursday by the Brazilian government for causing extensive environmental damage.

Samarco is a joint venture of Vale and BHP Billiton, two of the largest mining companies in the world. Endi