A dam containing water containing metallurgical toxic waste burst on January 27. The collapse is the second such incident to occur at a Vale SA mine in the last three years.
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Vale, the largest in world producer of iron ore and nickel, said that it cooperates with the prosecutor's office.
Residents claim that during the destruction of the dam, the alarm system installed by the company to warn residents about any risks did not work.
Number casualties as of Thursday evening amounted to 110 confirmed dead and 238 missing.
Since Saturday, no survivors have been found in the area of the breakout, indicating that the death toll could grow to 360 people, making the accident the deadliest man-made disaster in the history of mining in Brazil.
Vale said it will spend 5 billion reais ($ 1.3 billion) on dam decommissioning like the one that collapsed.
According to CEO Fabio Schw Artsman said that Vale will cut its ore output in Brazil by 10 percent, prompting a 9 percent rise in Vale shares, as well as a wider jump in Chinese iron ore futures and rival stocks.
Schwartzman said the plan calls for the suspension operations in mines producing about 40 million tonnes of iron ore and 11 million tonnes of pellets per year.
Competitors Vale BHP Group, Rio Tinto and Fortescue Metals Group surged, lifting the Australian Mining and Metals Index.
