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NEW YORK (TheStreet) -- BHP Billiton (BHP) - Get BHP Group Ltd. Report  stock is down 2.65% to $26.81 in early-afternoon trading Friday after the United Nations alleged that mine waste released from a deadly dam collapse was toxic. 

On Nov. 5, a mine dam in Brazil jointly owned by BHP Billiton and Vale burst to release 50 million metric tons of iron ore waste, resulting in about 20 people dead or missing. 

"The scale of the environmental damage is the equivalent of 20,000 Olympic swimming pools of toxic mud waste contaminating the soil, rivers and water system of an area covering over 850 kilometers," John Knox, UN Special Rapporteur on human rights and the environment, said in a statement on Wednesday.

BHP Billiton released a statement yesterday denying the allegations and claiming that the tailings are chemically stable and will not change composition in water.

The allegations are weighing on the Melbourne-based global resources company, which is already contending with a slump in commodities' prices.

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