Company news: BHP
BHP noted that the Samarco JV (between BHP & Vale) had received a US$44b law suit from Brazil's Federal Public Prosecution Service for the Samarco disaster that claimed 17 lives on the 5th November last year and had a significant effect on the local environment.
BHP's share price responded negatively (down 10% at one stage on the day of announcement). It will be some time before the true economic "cost" is known to BHP but it is likely to be significant. This being said, the sell-off this week comes after a remarkable 22% rally in the prior month. At the current time, BHP remains up 9% for the quarter, well ahead of the market.