Rio de Janeiro — Brazilian mining giant Vale said on Monday it is suspending dividend payments to shareholders and performance-related executive bonuses after a dam at one of its mines burst, killing dozens and leaving hundreds missing. Vale, the world’s biggest iron-ore miner, has seen its reputation severely tarnished by the deadly accident, the second involving a company-owned mine in the southeast Brazilian state of Minas Gerais in just over three years. The decision to suspend payments follows an emergency board meeting on Sunday, officials said in a statement. It said Vale was also suspending stock buybacks. The news came hours before the Sao Paulo stock exchange opened. Trading in Vale shares was expected to be intense on Monday as the market was closed for a holiday on Friday. However, Vale shares lost 8% in New York trading on Friday after news of the dam rupture. Brazilian authorities separately have frozen 11-billion reais — about $3bn — in Vale assets in anticipation of ...

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