BHP shares plunge again as Brazil gives $66m initial fine over mine disaster

President Dilma Rousseff announced the penalties for co-owners BHP and Vale, after last week's dam burst coated two states in mud and waste

Shares in mining giant BHP Billiton have fallen to new 10-year lows after Brazil imposed an initial fines of 250m reais ($66.2m) on its co-owned operation where two dams burst, killing at least seven people and coating a two-state area with mud and mine waste.

The fines, announced after Brazilian president Dilma Rousseff flew over the affected area on Thursday, come as federal prosecutors announced plans to work with state prosecutors to investigate possible crimes that could have contributed to the disaster at the mine, jointly owned by multinational mining companies BHP and Vale.