BHP Billiton and Brazil's federal prosecutor have reached a near billion dollar agreement Thursday, over the Samarco dam disaster that saw 19 people killed and severe environmental damage in November 2015.

BHP and their joint venture partner Vale are set to pay 898 million Australian dollars (675 million U.S dollars) to fund environmental programs in the region, as well as an additional 47.5 million Australian dollars (60 million U.S. dollars) to local municipalities as compensation, pending court approval.

Separate negotiations over the Resumption of operations at the mine are continuing however both parties have agreed that the site will not reopen unless "it is safe and economically viable."

source: Xinhua