Vale on arbitration award related to Simandou

4/9/2019

Vale on arbitration award related to Simandou

Rio de Janeiro, April 9th, 2019 – Vale S.A. ("Vale") announces that, on April 5, 2019, it received an award from an arbitral tribunal in London in the amount of US$1.246 billion plus costs and interest against BSG Resources Limited (“BSGR”), for fraud and breaches of warranty by BSGR in inducing Vale to enter into a joint venture to develop a concession for mining iron ore in the Simandou region of the Republic of Guinea. 
 
In 2014, the Republic of Guinea revoked that concession after a finding that BSGR had obtained it through bribery of Guinean government officials, while finding that Vale did not participate in any way in that bribery. 
 
Vale intends to pursue collection of this award by all legally available means, but there can be no assurance as to the timing and amount of any collections. 
 

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

Andre Figueiredo: andre.figueiredo@vale.com
Andre Werner: andre.werner@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 on arbitration award related to Simandou