Vale Says Samarco Dam Failure Will Cut Output at Nearby Mines

Mining Weekly reported that Vale (NYSE:VALE) said the Samarco iron ore mine flood caused by the collapsed tailings dam will cut output from two nearby mines.
As quoted in the market news:

Iron-ore output from Vale’s Fábrica Nova and Timbopeba mines will be cut by three-million tonnes in 2015 and by nine-million tonnes in 2016, the company said in a statement.
Vale also said it planned to interrupt the sale of iron ore from its Fazendao mine to Samarco but did not say how much it planned to cut. The disaster on Thursday killed at least two and left 25 missing, and forced the cut-off of drinking water to cities more than 300 km away.

Click here to read the full Mining Weekly report.