SÃO PAULO—Brazilian iron-ore mining giant Vale SA is financially ready to resume making divided payments after an almost two-year halt following the deadly dam failure in Brumadinho, but it is waiting to see how the coronavirus pandemic advances before making a decision, Chief Financial Officer Luciano Siani said Friday.

Vale’s policy was to pay a dividend twice a year, in March and September, and it last distributed cash to shareholders in September 2018. After the Brumadinho disaster in January 2019, which killed 270 people,…

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