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Vale S.A. (Portuguese pronunciation: [ˈvali]) is a Brazilian multinational corporation engaged in metals and mining and one of the largest logistics operators in Brazil.

Vale, formerly Companhia Vale do Rio Doce (the Sweet River Valley Company, referring to the Doce River),[4] is the largest producer of iro

Vale S.A. (Portuguese pronunciation: [ˈvali]) is a Brazilian multinational corporation engaged in metals and mining and one of the largest logistics operators in Brazil.

Vale, formerly Companhia Vale do Rio Doce (the Sweet River Valley Company, referring to the Doce River),[4] is the largest producer of iron ore and nickel in the world. Vale also produces manganese, ferroalloys, copper, bauxite, potash, kaolin, and cobalt, currently operating nine hydroelectricity plants, and a large network of railroads, ships, and ports used to transport its products.[5]

The company has had two catastrophic tailings dam failures in Brazil: Mariana, in 2015, and Brumadinho, in 2019; the Brumadinho dam disaster caused the company to lose its license to operate eight tailings dams in Minas Gerais,[6][7] and its stock to lose nearly 25 percent in value.[8]

Current operations

Although the company's primary operations are in Brazil, Vale has operations in 30 countries, which are detailed below and on the company's w

Vale, formerly Companhia Vale do Rio Doce (the Sweet River Valley Company, referring to the Doce River),[4] is the largest producer of iron ore and nickel in the world. Vale also produces manganese, ferroalloys, copper, bauxite, potash, kaolin, and cobalt, currently operating nine hydroelectricity plants, and a large network of railroads, ships, and ports used to transport its products.[5]

The company has had two catastrophic tailings dam failures in Brazil: Mariana, in 2015, and Brumadinho, in 2019; the Brumadinho dam disaster caused the company to lose its license to operate eight tailings dams in Minas Gerais,[6][7] and its stock to lose nearly 25 percent in value.[8]

Although the company's primary operations are in Brazil, Vale has operations in 30 countries, which are detailed below and on the company's website.[9]

Ownership structure

The company is listed on the stock exchanges of São Paulo, New York City, Hong Kong, Jakarta, Paris and Madrid.

Mining business

Vale's Carajás Iron Mine, Pará, 2009 NASA satellite photo

Iron ore: Vale is the world's largest iron ore producer.[10] Sales of iron ore fines and pellets represented 65% of total company revenues in 2014. In 2014, Vale sold 256 million metric tonnes of iron ore fines and 44 million metric tonnes of iron ore pellets.[5] Vale's Mariana Hub was the 9th largest iron ore mining center in the world in 2014, with an output of 39 million metric tonnes.[11] Vale's Serra Sull / S11D is the largest mining reserve in the world. The company's iron ore mines are primarily in Brazil.[5]

Nickel: Vale is the world's largest nickel producer.[10] Sales of nickel represented 17% of total company revenues in 2014. In 2014, Vale sold 272,000 metric tonnes of nickel.[5] The company owns nickel mines in Canada, Indonesia, New Caledonia, and Brazil. Tesla, Inc. is known to buy the majority of their Nickel from Vale. [5]

Fertilizer products, primarily phosphates and nitrogen: Sales of fertilizer products represented 6% of total company revenues in 2014. In 2014, Vale sold 9 million metric tonnes of fertilizer products.[5]

Copper: Sales of copper concentrate represented 4% of total company revenues in 2014. In 2014, Vale sold

The company is listed on the stock exchanges of São Paulo, New York City, Hong Kong, Jakarta, Paris and Madrid.

Mining business

Iron ore: Vale is the world's largest iron ore producer.[10] Sales of iron ore fines and pellets represented 65% of total company revenues in 2014. In 2014, Vale sold 256 million metric tonnes of iron ore fines and 44 million metric tonnes of iron ore pellets.[5] Vale's Mariana Hub was the 9th largest iron ore mining center in the world in 2014, with an output of 39 million metric tonnes.[11] Vale's Serra Sull / S11D is the largest mining reserve in the world. The company's iron ore mines are primarily in Brazil.[5]

Nickel: Vale is the world's largest nickel producer.[10] Sales of nickel represented 17% of total company revenues in 2014. In 2014, Vale sold 272,000 metric tonnes of nickel.[5] The company owns nickel mines in Canada, Indonesia, New Caledonia, and Brazil. Tesla, Inc. is known to buy the majority of their Nickel from Vale. [5]

Fertilizer products, primarily phosphates and nitrogen: Sales of fertilizer products represented 6% of total company reve

Nickel: Vale is the world's largest nickel producer.[10] Sales of nickel represented 17% of total company revenues in 2014. In 2014, Vale sold 272,000 metric tonnes of nickel.[5] The company owns nickel mines in Canada, Indonesia, New Caledonia, and Brazil. Tesla, Inc. is known to buy the majority of their Nickel from Vale. [5]

Fertilizer products, primarily phosphates and nitrogen: Sales of fertilizer products represented 6% of total company revenues in 2014. In 2014, Vale sold 9 million metric tonnes of fertilizer products.[5]

Copper: Sales of copper concentrate represented 4% of total company revenues in 2014. In 2014, Vale sold 353,000 metric tonnes of copper. The company owns copper mines in Brazil, Canada, Chile, and Zambia.[5]

Manganese and alloys: Sales of manganese and alloys represented 1% of total company revenues in 2014. In 2014, Vale sold 2 million metric tonnes of manganese and alloys.[5]

Coal: Sales of coal represented 2% of total company revenues in 2014. In 2014, Vale sold 7.5 million metric tonnes of coal. The company owns coal mines in Australia and Mozambique.[5]

From 2000 to 2006, Vale invested more than $1.3 billion on the acquisition of over 361 locomotives and around 14,090 freight cars, those locomotives were primarily for iron ore transportation, but some were for regular cargo.[5] Some of the locomotives purchased were secondhand for refurbishment but at least 55 of the locomotives acquired were new ones of the model EMD SD70M, each one costing about $2 million.[12][13]

After those investments, Vale became the owner of over 800 locomotives and more than 35,000 freight cars.[5]

Vale owns the concession of three Brazilian railways: Vitória-Minas Railway (EFVM), locomotives and more than 35,000 freight cars.[5]

Vale owns the concession of three Brazilian railways: Vitória-Minas Railway (EFVM), Ferrovia Centro-Atlântica (FCA) and Carajás railroad (EFC).

On February 5, 2019, the state court of the Province of Minas Gerais ordered Vale to halt use of eight of its tailings dams, including the Laranjeiras dam at Brucutu.[6]

Vale also operates port terminals in the state of Sergipe and two others in the state of Espirito Santo.

Malaysia
  • Teluk Rubiah Maritime Terminal (TRMT), a state of the art maritime terminal in the state of Perak, operates as a distribution centre for iron ore in the Asia Pacific region.

Ships

Vale has also entered the shipping business by ordering 35 Very Large Ore Carriers (VLOC) to transport iron ore between South America and Asia. These 362-metre (1,188 ft), 400,000 DWT ships are the longest and largest dry bulk carriers in the world. The first ship, Vale Brasil, was delivered in March 2011.[19]

EnergySergipe and two others in the state of Espirito Santo.

Malaysia
  • Teluk Rubiah Maritime Terminal (TRMT), a state of the art maritime terminal in the state of Perak, operates as a distribution centre for iron ore in the Asia Pacific region.

Ships

Vale has also entered the shipping business by ordering 35 Very Large Ore Carriers (VLOC) to transport iron ore between South America and Asia. These 362-metre (1,188 ft), 400,000 DWT ships are the longest and largest dry bulk carriers in the world. The first ship, Vale Brasil, was delivered in March 2011.[19]

Energy

Vale's energy business is focused at power production to fulfill the needs of its mining operations, as well as supplying the general Brazilian power grid. In 2005 it consumed 16.9 TWh of electrical power, accounting for 4.4% of Brazil's total consum

Vale has also entered the shipping business by ordering 35 Very Large Ore Carriers (VLOC) to transport iron ore between South America and Asia. These 362-metre (1,188 ft), 400,000 DWT ships are the longest and largest dry bulk carriers in the world. The first ship, Vale Brasil, was delivered in March 2011.[19]

Energy

Vale's energy business is focused at power production to fulfill the needs of its mining operations, as well as supplying the general Brazilian power grid. In 2005 it consumed 16.9 TWh of electrical power, accounting for 4.4% of Brazil's total consumption in that year.[citation needed

Vale's energy business is focused at power production to fulfill the needs of its mining operations, as well as supplying the general Brazilian power grid. In 2005 it consumed 16.9 TWh of electrical power, accounting for 4.4% of Brazil's total consumption in that year.[citation needed]

Vale has participation in 8 hydroelectric plants, with 7 of these located in the state of Minas Gerais. Vale's investment in hydroelectric power plants totals $880 million.hydroelectric plants, with 7 of these located in the state of Minas Gerais. Vale's investment in hydroelectric power plants totals $880 million.[20] The company also plans to build a 600 MW thermoeletric power plant in the state of Pará.[21]

Vale also operates hydroelectric plants in Canada and Indonesia.[5]

Rebranding

In November 2007, the company retired the name CVRD in favour of simplified company name of Vale, and rebranded.[22]

History

Founded as Companhia Vale do Rio Doce (widely known as CVRD prior to 2007) (in English, "Doce River Valley Company") was founded in Itabira, Minas Gerais, by the Brazilian Federal Government on 1 June 1942.[23]

One year later the Vitória a Minas railroad was inaugurated.[23]

The 1950s marked Companhia Vale do Rio Doce's entry into the global iron ore market, after the company's mine-railroad-port complex was modernized and iron ore prices doubled. At first, sales were mostly to the United States, but exports to Europe increased over the course of the decade.[24]

In 1966, the company inaugurated in Espirito Santo the Port of Tubarão, which was to becom

In November 2007, the company retired the name CVRD in favour of simplified company name of Vale, and rebranded.[22]

History

Founde

Founded as Companhia Vale do Rio Doce (widely known as CVRD prior to 2007) (in English, "Doce River Valley Company") was founded in Itabira, Minas Gerais, by the Brazilian Federal Government on 1 June 1942.[23]

One year later the Vitória a Minas railroad was inaugurated.[23]

The 1950s marked Companhia Vale do Rio Doce's entry into the global iron ore market, after the company's mine-railroad-

One year later the Vitória a Minas railroad was inaugurated.[23]

The 1950s marked Companhia Vale do Rio Doce's entry into the global iron ore market, after the company's mine-railroad-port complex was modernized and iron ore prices doubled. At first, sales were mostly to the United States, but exports to Europe increased over the course of the decade.[24]

In 1966, the company inaugurated in Espirito Santo the Port of Tubarão, which was to become the most important port for CVRD and is still used to export iron ore mined from the Iron Quadrangle in Minas Gerais.[23]

The company acquired a majority interest in the Carajás Mine, with over 1.5 billion tonnes of iron ore in reserves, in 1970.[25]

In 1974, Vale became the world's biggest exporter of iron ore, a title which it still holds today.[25]

In 1982, Vale began to diversify after it started to produce aluminium in Rio de Janeiro.[25]

In the mid 1980s, profits increased considerably under the leadership of Eliezer Batista, father of Eike Batista.[26]

In 1985, Vale started to explore the Carajás Mine in the state of Pará just after the 1,600 mm (5 ft 3 in) gauge Carajás railroad was opened.

In 1986, Ponta Madeira port terminal, which is still used to export iron ore mined at the Carajás Mine, was inaugurated in the state of Maranhão.[27]

In March 2017, Vale SA choose a commodities industry veteran, Fabio Schvartsman as chief executive officer. Schvartsman was CEO of Klabin SA, Brazil's largest paper and cardboard producer, for the past six years.[28]

In May 1997, despite protests by Vale employees and some politicians, the Brazilian Government auctioned a 41.73% interest in the company, which was sold for R$3.34 billion (US$3.13 billion). The largest interest purchased was a 16.3% stake purchased by Brazilian steel company Companhia Siderúrgica Nacional.[29]

Sale of wood pulp businesses

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