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Renova Foundation

The Renova Foundation was founded in 2016 to repair and compensate for the damages caused by the breach of the Fundão Dam, which occurred on November 5, 2015. It was created as a result of a legal commitment called the Transaction Term and Conduct Adjustment (TTAC), which was signed by Samarco, its shareholders, Vale and BHP Billiton, the Federal Union, the States of Minas Gerais and Espírito Santo, and various public authorities at the federal and state levels.

The TTAC established 42 programs aimed at socio-environmental and socio-economic remediation of the affected territories in 40 municipalities along a stretch of approximately 650 km. The Renova Foundation has been implementing remediation programs and respecting the governance system established in the TTAC and the Conduct Adjustment Term (TAC Governance) signed in 2018. Among the TTAC signatories were the Federal Public Prosecution Service, the State Public Prosecution Service Minas Gerais and Espírito Santo, the Public Defender's Office of the Union and the Public Defender's Office of the States of Minas Gerais and Espirito Santo. Its owners are Samarco, BHP Billiton and Vale.

Through the 42 programs designated by the TTAC, the Foundation works to ensure access to information, promote open and constant dialogue with its stakeholders, and encourage social participation and engagement of populations affected by the dam rupture.

Dialogue with affected communities guides Renova's actions as it seeks to remedy and compensate for the damage caused in an efficient and transparent manner. Recovering the water basin, resettling residents and compensating the families who suffered direct losses due to the incident are the Foundation’s priorities.

In its pursuit of excellence, the Renova Foundation has engaged 7,000 people (including its employees and partners) from technical and specialized areas with various areas of knowledge; dozens of social and environmental entities from Brazil that have scientific knowledge, such as the federal universities in Espírito Santo and Minas Gerais; and the international scientific institutions working on the repair process of Mariana (Minas Gerais) at the mouth of the Doce River.

Go to the Renova Foundation website

Impact Management

Impact management actions, implemented through the socio-environmental and socio-economical programs indicated in the TTAC, were divided into two main fronts:

Repair, aimed at reversing or mitigating the impacts caused by the disruption. This includes tailings management, village reconstruction and compensation.

Compensation to society for the general damage caused to people's lives. This includes action such as forest restoration, spring restoration and sanitation for municipalities along the Doce River are some examples.

The efforts for repair and compensation were divided into three thematic axes:

Performance Evolution

Since the Foundation’s creation in November 2015, Vale and BHP have been financing the Renova Foundation and providing funds directly to Samarco in order to preserve its operations. Approximately R$ 11.3 billion were invested by Vale, BHP and Samarco in reparation and compensation initiatives for the affected parties, totaling more than 324,000 people. In 2020, R$ 3.5 billion was driven to the programs. For 2021, the budget of the Renova Foundation is R$ 5.9 billion.

Disbursement and Budget

Vale’s Financial Contribution to the Renova Foundation

Renova Foundation disbursement (R$ billion)

Vale’s Financial Contribution to the Renova Foundation

KPI’s report

Significant progress had been made on the three axes defined in the TTAC:


Overall timeline




After project approval, house delivery takes approximately 12 months:


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Indemnification status

Emergency financial aid¹

Mariana
#Main beneficiary #Relatives Amount
574 712 R$ 57 MM
Total
#Main beneficiary #Relatives Amount
14,754 18,133 R$1,44 Bn

Mariana

Mariana
#Main beneficiary #Relatives Amount
574 712 R$ 57 MM
Total
#Main beneficiary #Relatives Amount
14,754 18,133 R$1,44 Bn

Indemnizations¹

Mariana
#Families Amount
390 R$ 166 MM
Water damage
#People Amount
270,312 R$ 283 MM
General damage
#Families Amount
10,201 R$ 920 MM

Mariana

Mariana
#Families Amount
390 R$ 166 MM
Water damage
#Pessoas Amount
270,312 R$ 283 MM
General damage
#Families Amount
10,201 R$ 920 MM

Novel System

4,685 Registered Requirements

1,962 Validated Requirements

251 Payments

Sistema Novel

Registered Requirements
4,685
Validated Requirements
1,962
Payments
251

¹Amounts disbursed until September 30th, 2020.

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