Brazil's Vale says Samarco disaster to cut output at nearby mines

Brazilian mining company Vale SA said on Monday that a deadly collapse of a tailings dam at Brazil's Samarco, an iron-ore company it owns 50:50 with Australia's BHP Billiton, will cut output from two nearby mines. 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.