| Corporate information |
1. Corporate information
Vale S.A. (“Parent Company”) is
a public company headquartered in the city of Rio de Janeiro, Brazil. Vale S.A.’s share capital consists of common shares traded
on B3 under the code VALE3. The Company also has American Depositary Receipts ("ADRs") traded on the New York Stock Exchange
("NYSE") under the code VALE. Additionally, the shares are traded on LATIBEX under the code XVALO. The shareholding structure
is presented in note 25 to these interim financial statements.
Vale S.A., together with its subsidiaries (“Vale”
or the “Company”), is one of the world’s largest producers of iron ore and nickel, and also produces iron ore pellets
and briquettes, copper, and by-products such as platinum-group metals (PGM), gold, silver, and cobalt.
The Company also engages in greenfield mineral exploration
in five countries: Brazil, Canada, Chile, Peru, and Indonesia. In addition, Vale holds interests in associates and joint ventures, primarily
involved in the production of ferrous products and base metals, in the operation of logistics infrastructure, and in energy businesses
that aim to meet part of Vale’s consumption needs through renewable sources. The list of the Company’s investments in associates
and joint ventures is presented in note 26.
The Company’s business is organized into
two operating segments: “Iron Ore Solutions” and “Vale Base Metals” (note 3).
| Iron Ore Solutions |
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It comprises the extraction of iron ore,
the production of pellets and other ferrous products, as well as large-scale logistics systems and distribution centers integrated with
its mining operations, including railways, maritime terminals, and ports.
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Iron ore. The Company operates three
systems in Brazil for the production and distribution of iron ore:
North System. Composed of
three mining complexes, the Carajás Railroad (Estrada de Ferro Carajás – EFC), and a maritime terminal.
Southeast System. Composed
of three mining complexes, the Vitória–Minas Railway (Estrada de Ferro Vitória a Minas – EFVM), and maritime
terminals.
South System. Composed of two
mining complexes and maritime terminals.
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Iron ore pellets and other ferrous products. Vale
has a diversified portfolio of agglomerated products, including pellets and briquettes. The Company operates eight pelletizing plants
in Brazil, two in Oman dedicated to pellet production, and two briquette plants in Brazil for briquette production.
Most of these products are sold to the international
market through the group’s main trading company, Vale International S.A. (“VISA”), a wholly owned subsidiary of Vale
headquartered in Switzerland. |
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| Vale Base Metals |
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The Vale Base Metals segment is operated
by the holding company Vale Base Metals Limited (VBM), a Vale subsidiary headquartered in the United Kingdom, and comprises the production
of nickel, copper, and their respective by-products. The Company also has streaming transactions related to nickel and copper by-products.
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Nickel. The main operations
are conducted by Vale Canada Limited (“Vale Canada”), which operates mines and processing plants in Canada and Brazil, as
well as nickel refining facilities in the United Kingdom and Japan. In Canada, the Company produces copper concentrates and cathodes associated
with its nickel operations in Sudbury (Ontario) and Voisey’s Bay (Newfoundland and Labrador), as well as refined cobalt in Long
Harbour (Newfoundland and Labrador). In Sudbury, Canada, the ore extracted generates cobalt, PGMs, silver, and gold as by-products, which
are processed at the refining facilities in Port Colborne (Ontario). In addition, the Company also holds investments in nickel operations
in Indonesia through its associate PT Vale Indonesia Tbk.
•
Copper. In Brazil, the
Company produces copper concentrates at Sossego and Salobo, located in Carajás, in the state of Pará. The copper operations
at Sossego and Salobo also produce silver and gold as by-products.
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