​The Doutor dam, at the Timbopeba mine, in Ouro Preto (MG), had its emergency level reduced from 2 to 1, on May 18, 2021. The change, which reflects the increased safety and stability of the structure, is a result of a series of actions that have been carried out by Vale in recent months. Among them, geotechnical investigations, maintenance of pumping to reduce the water level in the reservoir and improvement works on the left abutment, one of the sides of the dam. These actions were monitored and certified by the responsible technical consultancy.
The reduction in the level of emergency was filed with the competent bodies, according to guidelines established in the Emergency Action Plan for Mining Dams (PAEBM) and by the Brazilian legislation, and reported to the National Mining Agency (ANM) and to the technical audit supporting the Minas Gerais Public Prosecutor’s Office (MPMG).
Despite the increased safety for the community of Antônio Pereira and Vila Residencial Antônio Pereira, families that have been removed from the Self-Rescue Zone (ZAS) of the Doutor dam will remain preventively relocated until the structure's decharacterization process is completed.
The Doutor dam is monitored 24 hours a day by the Geotechnical Monitoring Center (CMG) and is regularly inspected by internal and external teams. Vale will continue to act in compliance with the best international engineering practices, focusing on the safety of the people who work and live close to the structure.


 

​In 2021, the Integrated Report was launched replacing the Sustainability Report. With a more concise approach and greater focus on the ESG strategy, the document was prepared according to the guidelines of the International Integrated Reporting Council (IIRC), in addition to the Global Reporting Initiative (GRI) Standards.
 

​Vale informs, regarding the semiannual submission to the National Mining Agency (ANM) of the regular safety inspection reports (RISR) related to the Company's dams, as defined by the National Dam Safety Policy, under the terms of Ordinance 70.389/2017 DNPM/ANM, that the company updated its information on the agency’s registry on March 31, 2021.
 

Among the 104 structures included in ANM’s Integrated Management System for Safety of Mining Dams - SIGBM, the Company informs that 75 structures of its operational units of Ferrous Minerals and Base Metals in Brazil now have positive Stability Condition Statements (DCEs), an increase of 3 structures in relation to February 2021.
 
As of today, three additional structures have positive DCEs and, as a result, their emergency protocol at level 1 is removed. They are: (i) Capim Branco, Mina Jangada, Brumadinho, MG; (ii) Menezes II, Córrego do Feijão Mine, Brumadinho, MG; and (iii) Taquaras, Mina Mar Azul, Nova Lima, MG. The security conditions of these structures were considered adequate by the EoRs after the adoption of measures to improve safety.
 
A total of 29 structures in the Ferrous Minerals business do not have positive DCEs today, having active emergency protocols, according to the respective PAEBM, 18 of which are at emergency level 1, 8 at emergency level 2 and 3 at emergency level 3. All 11 structures related to the Base Metals business have positive DCEs.

 

Vale informs that, on this date, the Company's Board of Directors approved the call notice for the Annual General Meeting and Extraordinary General Meeting, to be held on April 30, 2021, at 10 a.m., Brasilia time, exclusively through virtual means, under the terms of the call notice.    

On the occasion, the shareholders will have the opportunity to elect Vale's Board of Directors for the 2021-2023 term, among other deliberations provided for in the agenda. The Management Proposal is available for consideration and, to assist shareholders in the analysis of the items in the Meetings' Agenda, we invite shareholders to access Vale's 2021 Proxy Statement.
Shareholders may exercise their voting rights by means of: (i) absentee ballots, by submitting voting instructions prior to the Meetings; or, (ii) participation via electronic system at the time of the Meetings. 
The documents related to the Meetings, listed below, are available here.


 

​Vale  informs that, in line with its iron ore production resumption plan, the emergency level of the Itabiruçu dam, located at the Itabira Complex, has been removed after a thorough analysis of its geotechnical characteristics. As of this moment, the dam is in compliance with the legal safety parameters and released. 
 

Due to the updating of information regarding the Norte / Laranjeiras dam, of the Brucutu mine, in the municipality of Barão de Cocais, MG, the Self-Rescue Zone (ZAS) related to the structure was expanded on February 9, 2021. Under the coordination of the Civil Defense and in collaboration with other competent authorities and Vale, in the next few days, the scheduled removal of residents in the area corresponding to the expansion of the ZAS will begin, respecting the health and safety protocols recommended during the COVID-19 pandemic. The company will provide shelter and all necessary assistance to the families until the situation is normalized. The company reinforces that the ZAS originally identified for the structure already had a previous removal process completed.



The company also informs that there are no changes in the safety conditions of the structure. The updating of information regarding the scenarios of dam failure is in line with the conservative approach to risk management and in compliance with the provisions of the Term of Commitment signed between the State of Minas Gerais, the Public Prosecutors' Office of Minas Gerais and Vale, which defined new parameters for updating flood spots. The Norte/Laranjeiras dam has no longer received tailings and has ongoing works for safety and stability conditions improvement. The company reiterates that its priority is the safety of people and communities downstream of its operations, as well as the safety of all its structures.

 

​Due to the updating of information regarding the Doutor dam, of the Timbopeba mine, in the municipality of Ouro Preto, MG, the Self-Rescue Zone (ZAS) related to the structure was expanded on February 8, 2021. Under the coordination of the Civil Defense and in collaboration with other competent authorities and Vale, in the next few days, the scheduled removal of those residing in the area corresponding to the expansion of ZAS will begin, respecting the health and safety protocols recommended during the COVID-19 pandemic. The company will provide shelter and all necessary assistance to the families until the situation is normalized. The company reinforces that the ZAS originally identified for the structure had already a previous removal process completed.

The company also informs that there are no changes in the safety conditions of the structure. The updating of information regarding the scenarios of dam failure is in line with the conservative approach to risk management and in compliance with the provisions of the Term of Commitment signed between the State of Minas Gerais, the Public Prosecutors’ Office of Minas Gerais and Vale, which defined new parameters for updating flood spots. The Doutor dam is part of Vale's dam de-characterization plan and have no longer received tailings. The company reiterates that its priority is the safety of people and communities downstream of its operations, as well as the safety of all its structures.

 

​Vale  informs that, in a meeting held on January 28, 2021, its Board of Directors called an Extraordinary General Meeting, to be held on March 1, 2021, in order to make changes to the Company's Bylaws. Additional documents and information are available at www.vale.com/investors. 

 

In early December, during a virtual meeting with investors, Vale presented the goal of reducing net scope 3 emissions by 15%, related to its supply chain and customers, by 2035. The percentage decrease considers 2018 as the base year, when 586 million tons of CO2 equivalent (MTCO2eq) from its value chain were accounted for. The company expects to reach 496 MTCO2eq by 2035, a difference of 90 MTCO2eq from that recorded in 2018 - a volume equal to Chile's emissions related to energy use in the same year, according to a report from the International Energy Agency. The goal will be reviewed in 2025 and subsequently every five years. Today, 98% of Vale's CO2 emissions come from scope 3. 

The goal already considers the increase in production capacity to 400 million tons of iron ore, to be achieved by the end of 2022. Similar to the goals of scope 1 and 2, it is also in line with the Paris Agreement's ambition to limit global warming to less than 2°C by the end of the century. To achieve its scope 3 goal, Vale has a portfolio of high quality products and innovative technologies to provide solutions that reduce the emissions of customers and suppliers. 

"This agenda is the result of a listening process, aligned with real demand from society related to climate change", says Vale's CEO, Eduardo Bartolomeo. "In a preliminary estimate, Vale will be able to contribute to up to 25% of the estimated total to reach the scope 3 goal through its own portfolio, which sets them apart from their global competitors". 

The company, however, does not rely solely on the quality of its products. "Low-carbon technological solutions for steelmaking have been developed by Vale for some years now," says the executive director of Institutional Relations, Communication and Sustainability, Luiz Eduardo Osorio. "This is the case with Tecnored technology, which allows pig iron to be produced from the replacement of up to 100% of mineral coal with biocarbon (made from different types of biomass), significantly reducing carbon dioxide emissions". 

In the shipping area, included in scope 3, Vale is committed to the goals of the International Maritime Organization (IMO) to work to reduce the intensity of emissions by 40%, by 2030, and by 50%, in absolute terms, by 2050, with emissions from 2008 as a reference. The company created the Ecoshipping program, which has collaboration from different industry players, with the purpose of promoting projects that reduce emissions in the maritime transport of iron ore. One of them is the use of rotor sail technology on very large ore carriers (VLOC). The technology will allow fuel savings of up to 8% and an annual reduction of up to 3.5 thousand tons of CO2 equivalent per ship. 

​Vale informs that today it started, on a preventive basis, the Level 2 emergency protocol for the Norte/Laranjeiras dam, of the Brucutu mine, in the municipality of Barão de Cocais, MG.
 

​Vale, in partnership with Progress Rail - a company of the American group Caterpillar -, is developing a new 100% electric, battery-powered switchyard locomotive. 
 

Vale informs that, in line with the continuous monitoring of the safety conditions of its geotechnical structures, and as a result of regular inspections and frequent interpretations of data related to the structures, performed through the function of the Engineer of Record (“EoR”), it started today, on a preventive basis, the Level 1 emergency protocol of the Paracatu and Patrimônio dikes, a protocol that does not require the evacuation of the population downstream of the structures.
 

Vale informs that it has published today, its first annual Tax Transparency Report as part of our new pact with society and journey to better engage our stakeholders. 



In 2019, Vale paid US$ 4.5 billion in taxes and royalties globally, of which more than 90% (US$ 4.2 billion) were paid in Brazil, where most of our operations are carried out. The amount of US$ 4.5 billion in taxes and royalties paid in 2019 corresponds to more than 10% of Vale’s total economic contribution last year. In addition to tax payments, this contribution includes operational costs, salaries and employee benefits, among others. 


The report sets out the principles behind Vale’s approach to tax and investment. It includes information about corporate income taxes, tax on mining, payroll taxes, tax on products and services and other taxes, providing data on the taxes paid in Brazil, Canada, Indonesia, Mozambique and New Caledonia. 


With this publication, Vale meets with one year in advance its commitment to deliver a detailed tax transparency report as part of its ESG agenda. According to an action plan to fulfil Vale’s ESG reporting commitment, the report was originally scheduled to be published in 2021.


The disclosure of the Tax Transparency report demonstrates Vale’s commitment to transparency as it follows the principles recommended by international entities such as the International Council on Mining and Metals (ICMM) and the Extractive Industries Transparency Initiative (EITI). 
 

​Vale informs that, on the present date, the Board of Directors has decided to create and establish the Nomination Committee, another important step towards Vale's corporate governance evolution, in which a specific body will directly assist the Board of Directors, proposing improvements related to the structure, size and composition of the Board, in addition to recommending the skills, profiles and potential nominees for the Board, so that Vale continues to benefit from the plurality of arguments and a decision-making process with quality and care, in compliance with laws, ethics and best corporate governance practices. 
 

​Rio de Janeiro, May 14th, 2020 – Vale S.A. ("Vale") informs that it will invest at least US$2 billion to reduce by 33% its direct and indirect absolute emissions (scopes 1 and 2) by 2030. Direct emissions come from operations, and indirect emissions come from external sources involved in the production process, such as electric power consumption. The goal is aligned with the Paris Agreement, which established a maximum limit for increasing the global average temperature of 2°C by 2100.

The investment amount, already included in Vale's capex guidance for the coming years, is the largest amount ever committed by the mining industry to fight climate change. With this initiative, Vale aims to transform itself into a company with zero net emissions in scopes 1 and 2 by 2050, leading the industry towards carbon-neutral mining. Details on the scope 1 and 2 target were unveiled by Vale's CEO, Eduardo Bartolomeo, during a conference with investors. Click here to access the full presentation. 

This initiative is an evolution on Vale's climate agenda. In December at Vale Day – a meeting with market analysts held in New York and London – Vale had announced its goal to reduce its emissions and established an internal carbon pricing of US$50 per metric ton of CO₂ equivalent, for capital projects and competitors.

"This agenda is a result of a listening process, aligned with a real climate change-related demand from society for a robust reduction of emissions in the scope 1 and 2. We are stepping forward to develop a New Pact with Society with more transparency and responsibility", comments Eduardo Bartolomeo.

Since Vale Day, the Low Carbon Forum was established – a group led by the CEO and composed of six executive officers and employees from different areas of the company – whose purpose is to guide the implementation of the commitments made. The initiative reflects the engagement of Vale's management on the issue, as well as, the constant evolution on the climate agenda. According to Luiz Eduardo Osorio, the executive officer for Institutional Relations, Communication and Sustainability, 35 initiatives are under analysis using the "Marginal Abatement Cost Curve" – a tool that allows the classification of projects by costs and potential for reducing emissions.

"There are projects for the use of biodiesel in Base Metals, energy efficiency, electrification of mines and railroads, biofuels in pelletizing instead of coal, and renewable energy, since one of Vale's goals is to achieve 100% of self-production of electric power from clean sources, such as wind and solar, in its plants around the world," explains Luiz Eduardo Osorio.

By the end of the second half of this year, some pilot projects will be in operation. Vitória-Minas railway (EFVM) will have the first 100% electric locomotive. Electric vehicles will be tested in underground operation at Creighton, Coleman and Copper Cliff's mines in Canada and Vale's pelletizing plant in Vitória (Espirito Santo) will be tested with biofuel.

The base year used to calculate the carbon goal was 2017, when Vale's emissions reached 14.1 million metric tons of CO₂ equivalent (MtCO₂e). The goal is to reduce it to 9.5 MtCO₂e by 2030. In parallel, the projects to disassociate its production from carbon emissions, Vale will recover and protect another 500 thousand hectares of native forest by 2030. Today, the company helps to protect more than 1 million hectares worldwide.

Scope 3

In addition to its ambition to neutralize its scopes 1 and 2 carbon emissions by 2050, Vale aims to establish a goal for scope 3 to encourage clients and suppliers in the same direction.  Through active engagement with clients from the steel and metallurgy industries, Vale will work to reduce emissions in its value chain. The company will guide its operations based on win-win relationships, less intensive products, and new technologies

​ Vale  informs that it has initiated, in a preventive manner, the Level 1 emergency protocol of the Dicão Leste dam, of the Fazendão Mine in Catas Altas (MG), a protocol that does not require the evacuation of the population downstream of the dam.

​Vale informs that, yesterday, on a preventive basis, the Level 1 emergency protocol for Borrachudo II dike, of Mina Cauê, in Itabira (MG) was initiated. This protocol does not require the evacuation of the population downstream of the dam. The Borrachudo II dike had its Declaration of Stability Condition (“DCE”) issued on March 31, 2020, which remains valid. 

​Vale announces that has already anticipated R$521 million in payments to small and medium-sized companies since the beginning of the crisis caused by the COVID-19 pandemic. The company plans to inject another R$411 million into the Brazilian economy in advance of payments until the end of April, totaling R$932 million to help almost 3,000 suppliers in Brazil to address this moment. 

​Since the end of January, Vale has been taking all possible efforts to prevent COVID-19. The company's actions resulting from the pandemic are being managed by a structure of regional and executive committees, created especially to ensure the safety of all. Globally, the company complies with the health and safety protocols established by the authorities and agencies of each country and the actions determined by the internal pandemic preparedness and response plan and closely monitors the development of the situation. Some of our actions:

• Take care of our employees, our operations and our business:
  • Home Office for administrative activities as a preventive measure in various locations around the world;
  • Installation, in the coming weeks, of 81 thermal cameras at the gateways of its units in four Brazilian states (Minas Gerais, Pará, Espírito Santo and Maranhão) in order to identify people with high body temperature, one of the symptoms of the new coronavirus;
  • Increased bus fleet;
  • Extra credit on the food allowance for Vale employees in Brazil;
  • Stoppage for maintenance of the Voisey´s Bay mine for a period of four weeks, as a precaution to help protect the health and well-being of the Nunatsiavut and Innu indigenous communities in Labrador;
  • Redirection and redistribution of ships heading to Teluk Rubiah Maritime Terminal, in Malaysia, to our blending facilities in China;

  • Disbursement of US$ 5 billion from its revolving credit lines due in June 2022 (US$ 2 billion) and December 2024 (US$ 3 billion).

• Temporary aid to suppliers:
  • Anticipation of payments to small and medium-sized companies;

  • About R$ 160 million should be injected into the Brazilian economy in the coming days. 

• Humanitarian aid and care for communities:
  • Donation of 5 million rapid test kits for the new coronavirus (COVID-19) to assist the Brazilian Government in combating the spread of the disease in the country;
  • Passenger Trains on the Carajás Railway (EFC) and Vitória to Minas Railway (EFVM) have been halted temporarily .

​Vale  in continuity with the press release dated March 11th, 2020, informs that the Board of Directors appointed the third member to compose the Audit Committee.

Vale has released the documents for the Annual and Extraordinary Meetings of Shareholders, to be held on April 30, 2020.​

Vale informs about the new Audit Committee, its function and composition, in order to further evolve in the aspects of Corporate Governance.​

​Vale update on the decharacterization plan, including Doutor and Campo Grande dams and the three drained stacks structures.

​The Expert Panel assessment of the technical causes of the failure of Dam I at the Córrego do Feijão Mine in Brumadinho is available.