Brazil prosecutors ask court to remove Vale managers over safety concerns

Federal prosecutors in Brazil’s Minas Gerais state are seeking a court order for miner Vale to replace executives they accuse of disregarding safety procedures following two deadly mining disasters.

They have asked a court in Minas Gerais to name an interventor to take charge of Vale’s safety program, according to a statement the prosecutors’ office shared with Reuters.

The prosecutors have also asked all dividend payments be suspended until the interventor confirms Vale is cooperating. Vale plans to resume payouts next month, which Fitch estimates will come in at more than $2-billion for the year.