Vale informs on the decision of the Minas Gerais State Court

7/9/2019

Vale informs on the decision of the Minas Gerais State Court

Rio de Janeiro, July 09th, 2019 – Vale S.A. (“Vale”) informs on the decision by the Lower Public Treasury Court of Belo Horizonte (6ª Vara de Fazenda Pública e Autarquias de Belo Horizonte), on July 9th, 2019, within the scope of the lawsuits 5010709-36.2019.8.13.0024 and 5026408-67.2019.8.13.0024 proposed by the State of Minas Gerais and the lawsuits 5044954-73.2019.8.13.0024 and 5087481-40.2019.8.13.0024 proposed by the State Public Prosecutors of Minas Gerais, which declared Vale responsible for reparation of damages caused by the breach of the tailing dam in Córrego do Feijão, in extension and form to be subsequently defined.

The decision acknowledged Vale’s cooperation, including financial ones, with all initiatives requested by authorities during conciliation hearings held with the bodies of the Judicial system, such as Public Defense Office of the State of Minas Gerais and of the Union and the Public Prosecutors Office.

The court maintained R$ 11 billion frozen. However, it authorized the replacement of R$ 5 billion for other financial guarantees, such as bank guarantees, insurance guarantees and/or investments at the disposal of the court, in addition the previously approved replacement of R$ 500 million. Furthermore, the request for suspension of activities and the judicial intervention of Vale were denied, as there are sufficient guarantees to compensate for the damages.
 
Vale reaffirms its total commitment to the prompt and fair reparation of damages caused to the families, to the infrastructure of communities and to the environment.
 

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

André Figueiredo: andre.figueiredo@vale.com
André Werner: andre.werner@vale.com
Fernando Mascarenhas: fernando.mascarenhas@vale.com
Samir Bassil: samir.bassil@vale.com
Bruno Siqueira: bruno.siqueira@vale.com
Clarissa Couri: clarissa.couri@vale.com
Julio Molina: julio.molina@vale.com
Luiza Caetano: luiza.caetano@vale.com
Pedro Terra: pedro.terra@vale.com
Renata Capanema: renata.capanema@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 the decision of the Minas Gerais State Court