Fixed Income Analysis /
Brazil

SAMARCO MINERAÇÃO: Clock ticks for SAMMIN, but still a Buy

    Rafael Elias
    Rafael Elias

    Director, Latin America Credit

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    Tellimer Research
    28 March 2018
    Published byTellimer Research
    SAMMIN is a Brazilian mining company, jointly owned (50/50) by Brazil’s Vale and the Anglo-Australian firm BHP. The Brazilian government suspended the company’s operations in 2015 after the catastrophic failure of a pair of dams led to 19 deaths and the flooding of local towns. Our base-case view is that the company will resume operations in 2018.