(Updates with BHP's response in the fourth paragraph.)

Vale (VALE), BHP's (BHP) agreement regarding compensation for the Mariana dam collapse in 2015 has been joined by 19 new cities, Reuters reported late Thursday, citing a Brazilian court.

This means that the deal, which was signed and ratified in October 2024, now has the support of 45 of the 49 municipalities eligible to receive funds, the report said.

The Brazilian court said it remains available to accept any future consent from the four remaining cities that have yet to join the agreement, the report added.

A spokesperson for BHP told MT Newswires in an emailed response that the development "reflects a constructive, Brazil-led process that further strengthens the agreement as the principal framework for resolving claims arising from the Fundao dam failure."

Vale did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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