Vale exists to improve life and transform the future. Together.
Vale produces the best quality iron ore in the world
We provide career opportunities in a challenging, dynamic work environment. Come and be part of our history!
This is the section for those who want to invest in Vale or are already our shareholders
Area with news and latest information for journalists
Learn about Vale's initiatives to incorporate sustainability into its business
In our second Integrated Report, we share learnings, challenges and advances. We use indicators, management approaches and accountability on relevant environmental, social and governance topics, according to our materiality matrix, which we built together, with 1,192 internal and external stakeholders.
Our report is aligned with the guidelines of the International Integrated Reporting Framework | Value Reporting Foundation and the Global Reporting Initiative (GRI), Comprehensive option, and includes the Mining and Metals Sector Supplement. The report and its annexes also include indicators from the Sustainability Accounting Standard Board (SASB), the Task Force on Climate-Related Financial Disclosures (TCFD), the World Economic Forum (WEF) key metrics and the and the United Nations (UN) Sustainable Development Goals (SDGs),as well as our adherence to the Mining Principles of the International Council on Mining and Metals (ICMM).
Listen to the audio version of the 2021 Integrated Report
Founded in 1942 in Itabira and, today, headquartered in Rio de Janeiro, we are one of the main producers of iron ore and nickel in the world. We also produce Iron Ore pellets, Copper, Manganese Ore, Metallurgical and Thermal coal, Platinum Group Metals (PGM), Gold, Silver, and Cobalt.
We participate in mineral exploration in five countries and operate logistics systems, including railroads, marine terminals and ports, integrated with our mining operations. We also have distribution centers to support the delivery of Iron Ore throughout the world and have investments in energy and steel businesses directly and through affiliates and joint ventures.
Hover over the markings Click the markings
We exist to improve life and transform the future. Together.
Mining is essential for the development of the world. Therefore, we seek to serve what society needs and wants, with raw materials and other resources to improve life, taking care of the planet and generating prosperity for all.
Our business model is the systematization of our business activities, insums, products and impacts; without losing sight of how this all connects to our purpose, strategic pillars and commitments.
We will never compensate for the damage caused to people and territories by the collapse of Dam B1, of the Córrego do Feijão mine, in Brumadinho (MG).
But, with dialogue and active listening, we believe that it is possible to understand the needs of the communities affected by the disruptions and, thus, work to bring improvements in the social, environmental and economic spheres. We know that there is still much to be done and we remain committed to working to fully repair the impacts caused.
In 2021, we signed the Global Agreement in the amount of BRL 37.7 billion*, which is funding socioeconomic and socio-environmental reparation actions to the damages resulting from the collapse of the dam in Brumadinho.
*Indemnities for individual rights are not included in this amount and remain to be executed by Vale.
In the Comprehensive Reparation Agreement
by Vale in Reparation until Dec/2021, of which BRL 17.3 billion refers to the Judicial Comprehensive Reparation Agreement, BRL 6.2 billion destined for Brumadinho and the Paraopeba basin and BRL 1.2 billion for Evacuated Territories.
in the total payments provided for in the Comprehensive Reparation Agreement in 2021;
received emergency compensation, until the implementation of the Brumadinho Income Transfer Program (PTR), adding up to more than BRL 2.3 billion paid since 2019;
in emergency works, including Reparation projects, social contributions and Infrastructure;
of clean water returned to the Paraopeba River – ETAF1 and ETAF2 river water treatment stations;
handled and analyzed to search for victims, of the nine million that leaked in the dam collapse;
and seeds of more than 80 native species have been harvested since 2019, including very important endangered species for the region.
Learn more about the Reforestation program here.
are covered by agreements for civil or labour compensation. Of these, 11,492 are already paid, totalling more than BRL 2.6 billion paid since 2019;
are working directly or indirectly on the reparation front;
Watch the testimony of Alexandra Andrade, president of Avabrum (Association of Families of Victims and People Affected by the Córrego do Feijão Mine Dam Collapse in Brumadinho)
The Fundão dam in Mariana (MG), which collapsed in 2015, was operated by Samarco, a joint venture with a 50% stake in Vale and a 50% stake in BHP. Since 2016, the Renova Foundation, created through the Transaction and Conduct Adjustment Agreement (TTAC), has continued with the commitment to fully repair the damage caused to the people affected and the environment.
Since the collapse of dam B1, in Brumadinho, we have adopted more conservative standards in the evaluation of dams and we have intensified preventive, corrective and monitoring actions of our structures, advancing towards the goal of not having any dam in critical condition (emergency level 3) until 2025.
By the end of 2021, we completed 23% of the Dam Decharacterization Plan.
All emergency level 3 dams with Downstream Containment Structures constructed.
In place of wet processing, whose tailings are disposed in the dams, we have advanced in the processing of natural moisture. In the last 13 years, the company has invested about USD 19.5 billion in facilities and projects that seek to reduce dependence on dams, and in 2021 natural moisture processing reached 70% of Vale's Iron Ore production.
With investments of USD 9.3 million in research, we developed in 2021 a sand certified for application in the civil construction market. The sandy material, previously discarded in piles and dams, began to be processed and transformed into a product. In 2021, about 250 thousand tons of sand were processed and destined for sale or for donation for use in concretes, mortars, prefabricated, artifacts, cement and road paving.
To reduce the use of dams, Vale have announced an estimated investment of USD 2.2 billion between 2019 and 2026 to deploy dry stacking technology for tailings in Minas Gerais. The technique would allow the water from the tailings to be filtered, reused and stacked to reduce the use of dams.
In 2021, the Vargem Grande filtration plant began operations, reducing dependence on dams and improving the average quality of the product portfolio through wet processing.
We continue to adhere to national and international best practices. That is why, in 2021, we had some changes in our governance process.
Migration to the “corporation” model
In 2021, we migrated to the "corporation" model, or company with dispersed capital – with no defined control; a landmark in our history. We also made changes to Vale's Bylaws.
In 2021, the structure of the Executive Board was reviewed, and four new positions were created— the Executive Vice Presidencies of Sustainability, People, Legal and Tax and Strategy and Business Transformation — and adjustments in current positions. There was also the nomination of the first non-white female leadership for a Vice Presidency of Vale, for the Base Metals Business:
Risk management program - HIRA
For operational risk management, we rely on Hazard Identification and Risk Analysis (HIRA), a program that is designed to map and analyze operational safety risks of high severity or very high risk amplitude, define performance criteria and establish the assurance of associated critical controls. In 2021, we completed the implementation of the program in all of our operations. The evaluation cycle will be repeated in periods of 3 to 5 years.
In 2021, our Whistleblowing Channel underwent a restructuring process, through the implementation of new protocols. The cultural transformation we are experiencing, together with the launch of the Ethics & Compliance Program, led to a 33.8% increase in the number of reports received by the Complaints Channel, totaling 6,248 reports that included allegations, inquiries and complaints.
5,526 records closed by the Whistleblowing Channel in 2021 and 3,014 established corrective actions, including dismissal actions of 157 employees.
Brazil, Oman, Malaysia and China.
Brazil, Canada, Indonesia, Japan, China and the United Kingdom.
In 2021, our adjusted EBITDA from continuing operations was USD 13.8 billion higher than the year 2020, mainly due to higher realized prices and sales volumes of Iron Ore and Pellets, partially offset by certain costs and expenses that included third-party purchases and royalties, high freight costs and higher maintenance and service costs.
USD 18.6 billion higher compared to 2020, mainly due to higher proforma EBITDA and higher financial results.
We had an increase of USD 15.0 billion compared to 2020. The result is due to better market conditions and higher realized Iron Ore prices. Costs and expenses from continuing operations, including the Brumadinho reparation, totaled BRL 142.9 billion (USD 26.4 billion), remaining BRL 11.5 billion (USD 969 million) above 2020.
In the period, our investments totaled USD 5.2 billion, of which USD 4.2 billion were dedicated to the maintenance of operations and USD 1 billion to executing growth projects.
from continuing operations attributable to Vale shareholders
Access our full 2021 financial statements here.
See our global tax contributions in our annual Tax Transparency report here.
24-hour video and radar monitoring, use of satellite imagery and drones to track soil conservation and displacement states are some examples in practice.
Our project to create the first large ore ship equipped with a rotating sail system won the International Wind Propulsion Innovation Award in November 2021. Still in the testing phase, the innovative use of wind propulsion can offer an efficiency gain of up to 8% and a consequent reduction of up to 3,400 tons of CO2 equivalent per ship per year.
Learn more about our innovation initiatives
We are investing in several initiatives focused on bioenergy, renewable energy, electrification and carbon capture and storage.
We will allocate USD 4 to 6 billion by 2030 to reduce our Scope 1 and 2 emissions.
We conducted several tests in our operations, with emphasis on the use of bio-oil, vegetable charcoal and additives to reduce energy consumption in pelletizing plants, and the successful operation of the battery powered locomotive in the port of Tubarão, in Vitória. Currently, 5% of the underground vehicle fleet in Canada's operations are already electric vehicles.
Worldwide, we support the conservation of approximately 1 million hectares of forests, which represents a carbon stock of approximately 600 million tons of CO₂ equivalent.
In 2021, ITV supported the preparation of the inventory of emissions and removals associated with LULUCF1 activities. The initiative has improved the calculation of the carbon stock in biomass above and below ground.
Vale's electric power self-generation portfolio is 99% renewable. The installed capacity in 2021 was 2.3 GW, related to hydroelectric and wind generation assets, directly and indirectly owned, located in Brazil, Canada and Indonesia.
Long Harbour's Nickel products, Plating Rounds and Casting Nickel Wheels have a carbon footprint of 4.4 tons of CO2 equivalent per ton of Nickel, about three times lower than the global average intensity reported by the Nickel Institute for Class I nickel.
Developed internally over almost 20 years and launched to the market in 2021, the product has the potential to reduce greenhouse gas (GHG) emissions in steel production by up to 10% for our steel customers.
We work for the recovery of degraded areas and restoration of forests, restoring important habitats and ecosystem services throughout the value chain. Currently, we protect or help protect an area of approximately 10,000 sq km, equivalent to 12 times the area occupied by our operations.
were recovered or protected in 2021. The target by 2030 is 100,000 hectares;
protected through a partnership with three Conservation Units managed by the Chico Mendes Institute for Biodiversity Conservation (ICMBio in Portuguese);
of research institutions, governments, NGOs and startups for the protection of forests have been supported by the Vale Fund in the last decade;
invested in research in areas such as biodiversity, environmental genomics and through the Vale Institute of Technology
In 2021, we made a public commitment not to operate in UNESCO Natural World Heritage sites, a key area for biodiversity conservation.
The Vale Fund and Microsoft supported the Amazon Institute of Man and Environment (Imazon) in the development of PrevisIA, a platform that anticipates information about regions at risk of deforestation and fires in the Amazon through Artificial Intelligence (AI).
invested in operational improvements and adoption of new technologies for the control and management of atmospheric emissions.
We were committed to reducing fresh water withdrawal by 10% for use in our production processes by 2030, base year 2017. In 2021, our global result accumulated since the base year was a 20% reduction, which exceeded the initial goal set for 2030 (a 10% reduction).
Itabira is the city where Vale was born in 1942. Today, we seek possibilities to continue with our operational activities, but already converging, in a responsible and sustainable way, acting in areas already in the process of closing, through projects of future use and transition to post-mining gradually. The objective is to rely on the community’s active participation and to meet the aspirations of Itabira society.
Life first is one of our values. For us, security is a non-negotiable maximum and is present in several internal processes.
In 2021, we continued with humanitarian aid actions related to Covid-19 on different fronts.
Strengthen a diverse and inclusive culture. That's what we want. Since 2019, we have addressed structuring initiatives to create working conditions and opportunities that promote representativeness related to gender, race, people with disabilities, among other fronts, in our staff.
In 2021, we conducted our first Diversity Census, which comprised operations in Brazil and Canada. Approximately 68.5% of the employees participated voluntarily and confidentially, with self-declarations about how they see themselves and how they perceive our work environment.
Our goal was to double the representation of women in our workforce, from 13% to 26%, by 2030. In 2021, we announced the five-year anticipation of the commitment, until 2025. At the moment, we reached 18.7% representation of women globally, equivalent to the addition of 4,400 women in our staff. In high leadership, the percentage reached 20.3% of female representation, an increase of 80% compared to 2019, when the goal was established.
From the results of the census, we identified that Vale in Brazil is made up of 65% of black professionals and that we have a great opportunity to expand this representativeness in middle and senior leadership positions. With this, Vale assumed the following commitments:
Learn more about our commitment and initiatives in the Diversity, Equity and Inclusion Report 2020/2021.
We know that we face several challenges related to respect for Human Rights in our activities. In 2021, we reinforced the process of integrating the inclusion of the theme in our processes, from the inside out, and we committed to perform external due diligence on Human Rights in all our operations and critical projects.
assessed the human rights risks by periodically monitoring them
were trained in the online course on the subject
were intended for specific training on Human Rights and Business Security, in accordance with the Voluntary Principles on Security and Human Rights
with active contracts in Brazil was evaluated for the risk of violation of Human Rights.
Watch the testimony of Jaquelline Pinto, from Espaço Social Transformar and resident of Jardim Canadá, to understand some cases Click here.
Our relationship with Indigenous Peoples and Traditional Communities is based on respect for the cultural diversity and rights of these populations, recognizing the differentiated connection that they have with the territory.
Currently, we relate to 29 Indigenous Peoples, 13 in Brazil and 16 in other countries, in addition to 57 Traditional Communities in Brazil. In an effort to favor a solid relationship of partnership and trust, we implemented voluntary programs and agreements, built in a participatory way with these populations, considering their cultural and territorial specificities.
Currently, we have 2,092 local relationship communities mapped, 1,304 in Brazil, 80 in Canada, 355 in Mozambique, 163 in Malawi, 47 in Peru, 27 in Oman, 110 in Indonesia and 6 in Malaysia. To engage them, Vale seeks to establish structured spaces for dialogue to build our Community Relationship and Investment Plans, which have as a principle the mobilization and social participation in the definition and prioritization of actions to be implemented in the territory.
priority communities for engagement in Brazil;
of the communities were covered by Relationship and Investment Plans;
million direct beneficiaries with global projects and initiatives
In 2021, the first community complex of the Usina da Paz was inaugurated, in the Icuí-Guajará neighborhood, in Ananindeua (PA). The space is inclusive and with sustainable architecture, built in regions with high rates of violence and social vulnerability and aimed at serving local communities. It offers a wide range of sports and leisure services, such as legal advice and document issuing, vocational training, family health, library, swimming pool and digital inclusion rooms, among others.
The Vale Foundation seeks to strengthen public policies and contribute to the social development of Vale's territories. In 2021, its initiatives impacted more than 860,000 people in 50 municipalities in six Brazilian states.
The Vale Fund acts with the objective of strengthening a more sustainable, fair and inclusive economy. Since 2010, it has supported the construction of a new economic reality by investing in business development, knowledge generation, strengthening the impact ecosystem and financial arrangements aiming to conserve and recover the environment, especially in the Amazon.
In 2021, more than 200 projects were supported and sponsored in 160 Brazilian municipalities. The four cultural spaces of the Institute (Casa da Cultura de Canãa dos Carajás, Centro Cultural Vale Maranhão, Memorial Minas Gerais Vale and Museu Vale) carried out more than 1.9 thousand actions, which reached more than 1.6 million people, and the Vale Música musical training program held more than 622 classes.
USD 73 million of investments in culture. Largest company that encourages culture in Brazil in the last three years, according to the investment ranking of the Federal Culture Incentive Law
In 2021, the Vale Volunteer Network united more than 5,000 volunteers, who took part in 150 actions. Among them, the Brazil Without Hunger and Christmas Without Hunger campaigns stand out, which integrated Vale's Humanitarian Action to combat hunger and had several partners. It also partnered with clinics and blood banks in several states and expanded spaces in her own clinics to receive blood donations, as well as acting in the causes of organ donation, reading promotion, menstrual dignity campaigns, inclusive races and animal protection actions, among others.
Questions or comments about the Integrated Report? Send it to us!
Click the image to download it
Click the image to download it
This feature only allows the sharing, via email, with one person. Please check if the e-mail is in the format name@domain.com