BHP Billiton and Vale share prices fall after Brazil vows to make it pay for mine disaster
The Brazilian government has said BHP Billiton and Vale will be punished for the fatal mining disaster, in its strongest remarks on the tragedy yet.
"If federal fines are applicable, we will apply them," environment minister Izanbella Teixeira said.
"There will be punishment, and under Brazilian law the environment has to be repaired," she added.
Dams used to hold back waste water ruptured at the iron ore mine in the mineral-rich state of Minas Gerais, killing at least eight people and devastating the surrounding area.
Read more: BHP Billiton-owned dam bursts at Samarco Mineracao mine in Brazil
It comes BHP chief executive Andrew Mackenzie and Vale chief executive Murilo Ferreira apologised for the tragedy.
They assured that they will meet their obligations as joint owners of the mine, which is formally run by Samarco Mineração, and will be setting up a joint fund for its recovery costs.
"We are 100 per cent committed to do everything we can do to support Samarco and make this right," Mackenzie said.
"We are deeply sorry for everyone who has or will suffer for this terrible tragedy," Mackenzie said.