SÃO PAULO—Brazil’s Vale SA said it would dismantle 10 dams that are similar to the one that collapsed on Friday, killing at least 84 people, after police arrested five people in connection with the disaster earlier Tuesday.

The world’s largest iron-ore producer said it would halt 10% of annual production as it speeds up efforts to get rid of mining-waste dams like the one that burst on Friday at its Corrego do Feijão complex. The company said the loss of production will be offset by increasing output at other facilities.

...