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Equity Bottom-Up

Failure of a tailings dam and damage to another at the 50%-&nbsp;owned Samarco iron ore mine in Brazil, in joint venture with&nbsp;Vale, is a disaster.The environmental mess and loss of life&nbsp;dents investor confidence at a time when sentiment for BHP&nbsp;Billiton is fragile as a result of falling commodity prices.Managing director Andrew Mackenzie has responded&nbsp;admirably in trying circumstances, promptly on the ground,&nbsp;offering sincere condolences and pledging BHP's full&nbsp;support in the recovery.That said, in no way do we put a&nbsp;positive spin on the event for BHP.Analysts: Mathew Hodge &amp; Mark Taylor

Failure of a tailings dam and damage to another at the 50%-&nbsp;owned Samarco iron ore mine in Brazil, in joint venture with&nbsp;Vale, is a disaster.The environmental mess and loss of life&nbsp;dents investor confidence at a time when sentiment for BHP&nbsp;Billiton is fragile as a result of falling commodity prices.Managing director Andrew Mackenzie has responded&nbsp;admirably in trying circumstances, promptly on the ground,&nbsp;offering sincere condolences and pledging BHP's full&nbsp;support in the recovery.That said, in no way do we put a&nbsp;positive spin on the event for BHP.Analysts: Mathew Hodge &amp; Mark Taylor

BHP Billiton's Exposure to Samarco Tailings Disaster

BHP Group Ltd

BHP Billiton's Exposure to Samarco Tailings Disaster