Vale announces the completion of the Ferrous Resources Limited’s acquisitio

8/1/2019

Vale announces the completion of the Ferrous Resources Limited’s acquisitio

Rio de Janeiro, August 1st, 2019 – Vale S.A. (Vale) informs that it concluded the acquisition of Ferrous Resources Limited (Ferrous) in accordance with the terms disclosed on December 6, 2018. 

 
Vale reaffirms the importance of this acquisition, which will immediately increase Vale’s own production with 4 Mtpy of high-quality pellet feed at competitive operating costs, once the Viga 4 project had a successful ramp-up, thus reaching its full capacity. Ferrous owns and operates iron ore mines closely located to Vale’s operations in Minas Gerais, Brazil. 

 
The completion of this acquisition is aligned with Vale’s strategy of maximizing the flight to quality in the Iron Ore business.
 

Ever since the Covid-19 outbreak began, our highest priority is the health and safety of our employees. Our IR team adopted work-from-home, and as we continue to face these new circumstances, we strongly recommend you prioritize e-mail and online engagement.

For further information, please contact:

Vale.RI@vale.com
Ivan Fadel: ivan.fadel@vale.com
Andre Werner: andre.werner@vale.com
Mariana Rocha: mariana.rocha@vale.com
Samir Bassil: samir.bassil@vale.com

This press release may include statements that present Vale’s expectations about future events or results. All statements, when based upon expectations about the future, involve various risks and uncertainties. Vale cannot guarantee that such statements will prove correct. These risks and uncertainties include factors related to the following: (a) the countries where we operate, especially Brazil and Canada; (b) the global economy; (c) the capital markets; (d) the mining and metals prices and their dependence on global industrial production, which is cyclical by nature; and (e) global competition in the markets in which Vale operates. To obtain further information on factors that may lead to results different from those forecast by Vale, please consult the reports Vale files with the U.S. Securities and Exchange Commission (SEC), the Brazilian Comissão de Valores Mobiliários (CVM) and in particular the factors discussed under “Forward-Looking Statements” and “Risk Factors” in Vale’s annual report on Form 20-F.

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Vale announces the completion of the Ferrous Resources Limited’s acquisitio