Miner BHP has reached a $US29.93 billion ($A45.09 billion) final settlement with authorities in Brazil for reparation of Samarco’s Fundão dam failure.

A federal judge in Brazil had ruled in February that BHP and Vale and their joint venture, Samarco, must pay up to 47.6 billion reais in damages for the 2015 dam collapse, in a decision still subject to appeal.

The collapse in the southeastern city of Mariana caused a giant mudslide that killed 19 people and severely polluted the Rio Doce river, compromising the waterway to its outlet in the Atlantic Ocean.

“The Samarco Fundão dam failure in 2015 was a terrible tragedy,” Mike Henry, BHP Chief Executive Officer said in a statement.

“It should never have happened and must never be forgotten.”

The mining company said BHP Brasil’s expected outflows under the agreement align with BHP’s FY2024 Samarco dam failure provision of $US6.5 billion ($A9.8 billion) and no update is required to the existing provision at this time.

More than 600,000 Brazilians, 46 local governments and around 2000 businesses are separately suing BHP over the 2015 dam collapse.

There is a 12-week trial underway for the mammoth lawsuit in London’s High Court.

Last week, BHP said allegations a pursuit of profit over safety contributed to Brazil’s worst environmental disaster were “far-fetched and unjustified”, as the miner opened its defence.

This post was originally published on Michael West.