Vale to cut output, shut down dams after Brazil disaster

By Jake Spring and Gram Slattery BRASILIA/BRUMADINHO, Brazil (Reuters) - Vale SA, the world's largest iron ore miner, on Tuesday vowed to take as much as 10 percent of its ore output offline in order to decommission 10 more dams like the one that burst last week, killing scores of workers and nearby residents. Chief Executive Fabio Schvartsman said it would temporarily paralyse operations using those dams and spend 5 billion reais ($1.3 billion) to decommission them over the next three years. The move came as prosecutors began arresting Vale executives over the Friday collapse of a tailings dam in the Brazilian town of Brumadinho, which was hit by a torrent of mining waste that killed at least 84 people and left hundreds more missing

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