BHP Group (ASX:BHP) agreed to settle the Australian Samarco shareholder class action lawsuit by paying AU$110 million, inclusive of interests and costs, with no admission of liability, subject to approval by the Federal Court of Australia, according to a Tuesday Australian bourse filing.

BHP expects to recover the majority of the settlement amount from its insurers.

The class action was filed in the Federal Court in 2018 on behalf of persons who acquired shares in BHP Group Limited or BHP Group Plc, currently BHP Group (UK), during the period from Aug. 8, 2012, to Nov. 9, 2015.

It was brought on behalf of shareholders who acquired BHP shares before the failure of the Fundão Dam in Brazil. The dam was owned and operated by Samarco Mineração, a non-operated joint venture between unit BHP Billiton Brasil and Vale, with each holding a 50% stake.