Samarco Mineracao SA, a bankrupt joint venture between Brazilian miner Vale SA and BHP Group Ltd, proposed on Thursday a plan to restructure 50 billion reais ($10 billion) in debt with an offer of preferred shares or a cash payout in 2041 equal to 15% of the current value.
Mining activities in Minas Gerais, in southeastern Brazil, are unlikely to be affected despite a newly-imposed Covid-19 lockdown on Thursday March 4, market sources said.