At least 13 people died when the dam burst earlier this month in the south-eastern state of Minas Gerais.
A village was destroyed and drinking water polluted over a wide area.
Brazil’s Environment Minister Izabella Teixeira said money was needed for environmental recovery and to compensate victims.
“There was a huge impact from an environmental point of view,” she told reporters in the capital Brasilia.
“It is not a natural disaster, it is a disaster prompted by economic activity, but of a magnitude equivalent to those disasters created by forces of nature.”
Izabella Teixeira said about 310 miles of the Rio Doce – one of Brazil’s most important rivers – would have to be dredged in parts, vegetation replanted and fresh water springs cleared.
Samarco is owned by mining giants Vale, from Brazil, and Anglo-Australian company BHP Billiton.
On November 26, the UN said the dam burst had unleashed a flood of “toxic mud”.
However, mining giant BHP said in a statement that the water in the dam – a by-product of iron ore extraction – did not pose any threat to humans.
Image source: Wikimedia Commons President-elect Donald Trump celebrated his election victory at the Ultimate Fighting…
Millions of voters across the US chose to return Donald Trump to the White House…
Donald Trump declares victory in the US election as he addresses jubilant supporters in Florida.…
Stocks around the world are rising as Donald Trump appears to be on the cusp…
Donald Trump has won Pennsylvania, North Carolina and Georgia and taken a lead over Kamala…
Quincy Jones, the celebrated musician and producer who worked with Michael Jackson, Frank Sinatra, Ray…