Vale reports on injunctions and imposition of administrative sanctions

1/27/2019

Vale reports on injunctions and imposition of administrative sanctions

Rio de Janeiro, January 27, 2019 – Vale SA ("Vale") informs, pursuant to CVM Instruction 358/2002, as subsequently amended, that it was notified of preliminary injunctions granted upon the requests presented by the Public Prosecutors of the State of Minas Gerais and by the State of Minas Gerais, with regards to the rupture of dam 1 of the Córrego do Feijão Mine. The judges on duty during the weekend in Belo Horizonte and Brumadinho granted attachments on Vale's bank accounts on the total value of R$ 11,000,000,000.00 (eleven billion Reais) and determined that the company takes the necessary measures to reassure the stability of the dam VI of the Córrego do Feijão Mine Complex, provide reception and integral assistance to the affected people, among other obligations. ​

 
In addition, Vale informs that it was notified of the imposition of administrative sanctions by IBAMA and SUFIS-MG, in the amount of R$ 250,000,000 (two hundred and fifty million Reais) and 27,590,773.62 UFMG (approximately R$ 99,139,167.77), respectively.

 

 
 

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.

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Vale reports on injunctions and imposition of administrative sanctions