Lundin is buying out the remaining stream credit facility and offtake agreement for its 100% owned Fruta del Norte mine.

India's Ministry of Mines began discussions with Australia and the United States last year, according to Reuters.

The collapse of the dam, which belonged to Samarco, a joint venture of Vale and BHP, caused a giant mudslide that killed 19 people.

One of the largest iron ore producers in the world, posted a $1.7 billion net profit for the quarter ended in March, while analysts polled by LSEG were expecting a $1.9 billion profit.

Negotiations resumed this week after the Brazilian government and states rejected the companies' $7.7 billion offer in December.

Initially, the Chilean state will get an estimated 70% of proceeds from new production, rising to 85% from 2031.