Vale informs on permission to enforce US$ 2 billion arbitral award

9/24/2019

Vale informs on permission to enforce US$ 2 billion arbitral award

Rio de Janeiro, September 24th, 2019 – Vale S.A. (“Vale”) informs that, on September 20, 2019, the English High Court ruled that Vale can proceed with enforcement of its US$2 billion arbitration award against BSG Resources Limited (“BSGR”) in England.

The arbitration award was issued in Vale’s favour on April 4, 2019 after a Tribunal of the London Court of International Arbitration ruled that BSGR defrauded Vale in relation to Vale’s investment in the Simandou iron ore project in Guinea.

Vale intends to continue with its actions to enforce the award against BSGR, and is currently pursuing court action against BSGR in New York, as well as in England.

 

For further information, please contact:
+55-21-3485-3900

Andre Figueiredo: andre.figueiredo@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 the French Autorité des Marchés Financiers (AMF), and in particular the factors discussed under “Forward-Looking Statements” and “Risk Factors” in Vale’s annual report on Form 20-F.


Vale informs on permission to enforce US$ 2 billion arbitral award