Samarco

Founded in 1977, Samarco is a closely held company. Its main product is iron ore pellets sold to the steel industry in 19 countries in the Americas, the Middle East, Asia and Europe.Samarco has been active in Brazilian mining business for 40 years. In this time, the Company has always made a point of honoring its commitments to society, and this remains true today. The failure of the dam on November 05, 2015, caused environmental damage, impacting families in the region and other localities along the Doce River. We apologize for the damage caused and we are aware that all of our actions will not bring back the lives lost.From the first day after the event, Samarco carried out actions to assist the people involved and to repair damages to the environment. In order to establish its commitment to the social, environmental and economic recovery of the impacted regions, Samarco, together with its shareholders, signed a Transaction and Conduct Adjustment Agreement (TTAC – the Framework Agreement) in March 2016, with the federal government and the governments of the states of Minas Gerais and Espírito Santo. TTAC provided for the creation of a foundation to remediate and compensate the impacts of the dam failure. Since August, Fundação Renova has been working on the continued development of the 41 remedial and compensatory programs outlined in the TTAC.After the emergency actions developed along 2016, the company is now seeking for authorizations to lend continuity to its business. A new tailings disposal system using the Alegria Sul mine pit, which is in the process of obtaining an environmental license, represents an important step of the company’s operational planning.Besides the licensing, Samarco is trying to start the process of Corrective Operational Licensing (LOC), solicited by SEMAD, that will integrate in a single environmental license all of the structures within the Germano Complex. The LOC aims to ensure the environmental viability of the project.