Photo: Alexandre Rezende
Message from the CEO
We are living a moment of deep transformation of the
world, of
mining and of Vale. On this journey, we seek to walk together with
society, with responsibility, transparency and coherence. We arrive
at places uninvited, so, in addition to mitigating the negative
impacts, we want, as our social ambition states ‘To be a partner
company in the development of resilient communities, engaged in
relevant issues to humanity and committed to sustainable mining.’
In 2022, we will complete 80 years of operation. Over these decades,
we have learned that our role goes beyond mining and, for this
reason, in all Vale's decisions, people are at the center. We seek,
as our purpose says, to improve lives and transform the future.
Together.
Eduardo Bartolomeo
Vale CEO
Photo: Arthur Toledo
Move the map
![Mapa do mundo interativo com o mouse para mostrar localizações onde a Vale atua]()
World map illustration in white color on a green background. In
it, there are yellow circles that indicate where Vale is
present. When clicked, icons appear indicating the type of
action. Are they:
- Canada – operations, office and exploration
- United States – office and exploration
- Peru – office and exploration
- Paraguay – office
- Argentina – office
- Chile – office and exploration
-
Brazil – operations, joint ventures, office, headquarters,
exploration, railroad and port
- United Kingdom – operations and offices
- Netherlands – offices
- Switzerland – offices
- Serbia – exploitation
- United Arab Emirates - offices
- Oman – operations and offices
- Malawi - operations
- Mozambique – operations and offices
- India – offices
- China – operations, offices and ports
- Japan – operations and offices
- Singapore - offices
- Malaysia - operations, offices and ports
- Indonesia - operations and offices
- Australia - offices
![Aerial view of dam.]()
![.]()
Photo: Bruno Correa
The reparation so far
24.7brl
billion disbursed
5
victims not yet located
In addition to all the lives that were lost, we lost
about 140
hectares of native forests. So, what do we need for this environmental
repair? Restoration starts with the seed and that's why we need the
seed collector to start working on forest restoration. This collection
work has been carried out since 2019 in partnership with the Federal
University of Viçosa. We have already collected more than 600 kg of
fruits and seeds from more than 80 species in the region, mainly
forest species, which are threatened and very important for the
region
Felipe Peixoto,
Vale Biologist
We listen to learn together.
Watch the testimony of Alexandra Andrade, president of Avabrum
(Association of Families of Victims and People Affected by the Córrego
do Feijão Mine Dam Collapse in Brumadinho)
Get to know some solutions and technologies
to reduce dependence
on the use of dams
Natural Moisture Processing
In place of wet processing, whose tailings are disposed in the dams, we have advanced in the
processing of natural moisture. In the last 13 years, the company has invested about USD 19.5
billion in facilities and projects that seek to reduce dependence on dams, and in 2021
natural
moisture processing reached 70% of Vale's Iron Ore production.
Sustainable sand from tailings
With investments of USD 9.3 million in
research, we developed in 2021 a sand certified for
application in the civil construction market. The sandy
material, previously discarded in piles and dams, began to
be processed and transformed into a product. In 2021, about
250 thousand tons of sand were processed
and destined for sale or for donation for use in concretes,
mortars, prefabricated, artifacts, cement and road paving.
Filtered Tailing piles
To reduce the use of dams, Vale have announced an estimated investment of USD 2.2 billion between
2019 and 2026 to deploy dry stacking technology for tailings in Minas Gerais. The technique would
allow the water from the tailings to be filtered, reused and stacked to reduce the use of dams.
Vargem Grande Filtration Plant
In 2021, the Vargem Grande filtration plant began
operations, reducing dependence on dams and improving the
average quality of the product portfolio through wet
processing.
Migration to the “corporation” model
Risk management program - HIRA
![Aerial view of dam.]()
![.]()
Photo: Ricardo Teles
Manufactured
Capital
Our tangible assets.
![Aerial and night photo of one of Vale's operations.]()
![.]()
Photo: Ricardo Teles
Financial
Capital
Our investments, economic performance
and financial performance
summarized
31.3usd
biliion adjusted EBITDA
24.8usd
billion net income
54.5usd
billion net operational revenue
5.2usd
billion in investments
27.7usd
billion operating income
24.7usd
billion net income
![Photo of a large vessel in red and black colors at sea.]()
![.]()
Photo: Anderson Bibico
Intellectual
Capital
Our knowledge base and organizational
capacity to maintain and
expand it.
For us, innovation is an essential asset for creating shared value
with society to mitigate the impact of our activities. It is a
cross-cutting theme that we apply in several internal processes.
Check out some of our initiatives.
![Photo of a branch of a tree with many leaves.]()
![.]()
Photo: Emiliano Capozoli
Natural
Capital
The natural resources that
are essential to our business.
For tomorrow to be better, we do our best today and every day. We
prioritize risk analysis and adopt measures to prevent, mitigate,
recover and compensate for impacts on nature.
What we've done so far
PowerShift – Vale Decarbonization Program
We conducted several tests in our operations, with emphasis
on the use of bio-oil, vegetable charcoal and additives to
reduce energy consumption in pelletizing plants, and the
successful operation of the battery powered locomotive in
the port of Tubarão, in Vitória. Currently, 5% of the
underground vehicle fleet in Canada's operations are already
electric vehicles.
Conservation of forests
Worldwide, we support the conservation of approximately 1
million hectares of forests, which represents a carbon stock
of approximately 600 million tons of CO₂ equivalent.
Inventory of emissions and removals
In 2021, ITV supported the preparation of the inventory of
emissions and removals associated with LULUCF1
activities. The initiative has improved the calculation of
the carbon stock in biomass above and below ground.
[1] LULUCF - Land use, land-use change and
forestry activities: activities associated with land use,
land-use change and forestry.
Use of renewable energy
Vale's electric power self-generation portfolio is 99%
renewable. The installed capacity in 2021 was 2.3 GW,
related to hydroelectric and wind generation assets,
directly and indirectly owned, located in Brazil, Canada and
Indonesia.
Check out the low-carbon products in our portfolio
Biodiversity
We work for the recovery of degraded areas and restoration of forests,
restoring important habitats and ecosystem services throughout the value
chain. Currently, we protect or help protect an area of approximately
10,000 sq km, equivalent to 12 times the area occupied by our
operations.
+ 62,000
hectares of Atlantic Forest
![Eco-efficiency]()
Photo: Vale Archive
Eco-efficiency
USD80
million
invested in operational improvements and adoption of new
technologies for the control and management of atmospheric
emissions.
2030 targets for
reducing atmospheric emissions
-
Reduce particulate matter emissions by 16%;
-
Reduce sulfur oxides emissions by 16%;
-
Reduce nitrogen oxide emissions by 10%.
2030 Water Goal
We were committed to reducing fresh water withdrawal by 10% for
use in our production processes by 2030, base year 2017. In 2021,
our global result accumulated since the base year was a 20%
reduction, which exceeded the initial goal set for 2030 (a 10%
reduction).
Future use of mines in Itabira
Itabira is the city where Vale was born in 1942. Today, we seek
possibilities to continue with our operational activities, but
already converging, in a responsible and sustainable way, acting
in areas already in the process of closing, through projects of
future use and transition to post-mining gradually. The objective
is to rely on the community’s active participation and to meet the
aspirations of Itabira society.
![Four women sitting at a table. One is typing on her notebook and the other three are writing on a sheet of paper. All wear a mask.]()
![.]()
Photo: Gustavo Baxter
Human
Capital
The set of skills, abilities
and experiences of our employees
that make us go further.
Photo: Vale Archive
Life first is one of our values. For us, security is a
non-negotiable maximum and is present in several internal
processes.
Our goals for 2025 are:
-
Reduce by 50% the number of exposures to agents harmful to
health in the workplace by 2025;
-
Zero the number of recordable high-potential injuries by 2025.
Photo: Vale Archive
In 2021, we continued with humanitarian aid actions related to
Covid-19 on different fronts.
-
We supported the Butantan Institute (Brazil)
in the expansion works of the Multipurpose Vaccine Production
Center, which will have a production capacity of up to 100
million doses per year;
-
We donated 50 million syringes and 400,000 PPEs
for the protection of professionals on the front lines of
vaccination;
-
We have adopted a number of safety measures for our
employees
we made the transition of part of the employees to the remote
work regime and implemented measures of social distance,
restriction of face-to-face meetings, testing protocol and proof
of complete vaccination against Covid-19 for entry into our
units in Brazil.
#TransformTogether
-
The Vale Institute of Technology, in partnership with the
Fiocruz Network, is collaborating with the production of
SARS-CoV-2 virus genomes.
-
In a reinforcement to the solidarity action, we joined other
companies for the donation of medicines for intubation, totaling
3.7 million analgesics, sedatives and neuromuscular blockers
imported from China, which were fully donated to the Brazilian
federal government for later distribution to the states through
the Unified Health System (SUS).
-
We, the Vale Foundation and the Vale Volunteer Network, joined
organizations that work to combat hunger in Brazil, such as the
Panela Cheia Movement (formed by Cufa, Gerando Falcões and
Frente Nacional Antirracista), the União Rio Movement and the
Citizenship Action, among others. Together we delivered more
than one million food baskets/cards to more than 220,000
families in a situation of severe food insecurity in 2021.
Diversity, equity and inclusion
Photo: Vale Archive
Strengthen a diverse and inclusive culture. That's what we want.
Since 2019, we have addressed structuring initiatives to create
working conditions and opportunities that promote
representativeness related to gender, race, people with
disabilities, among other fronts, in our staff.
In 2021, we conducted our first Diversity Census, which comprised
operations in Brazil and Canada. Approximately 68.5% of the
employees participated voluntarily and confidentially, with
self-declarations about how they see themselves and how they
perceive our work environment.
Photo: Vale Archive
Our goal was to double the representation of women in our
workforce, from 13% to 26%, by 2030. In 2021, we announced the
five-year anticipation of the commitment, until 2025. At the
moment, we reached 18.7% representation of women globally,
equivalent to the addition of 4,400 women in our staff. In high
leadership, the percentage reached 20.3% of female representation,
an increase of 80% compared to 2019, when the goal was
established.
|
2019 |
2020 |
2021 |
Increase compared to 2019 |
|
Total women
|
9,050
|
11,443
|
13,488
|
49.0%
|
|
Staff
|
8,457
|
10,638
|
12,433
|
47%
|
|
Supervision
|
239
|
374
|
412
|
72.4%
|
|
Management and Coordination
|
329
|
397
|
598
|
81.8%
|
|
Executive Managers and Directors
|
25
|
34
|
45
|
80.0%
|
Photo: Gustavo Baxter
From the results of the census, we identified that Vale in Brazil
is made up of 65% of black professionals and that we have a great
opportunity to expand this representativeness in middle and senior
leadership positions. With this, Vale assumed the following
commitments:
Ethnic-racial equity commitments
-
Achieve 40% of leadership in Brazil (managers and above) made up
of black people by 2026;
-
Implement educational programs, with the objective of
intensifying the professional training of the black communities
where Vale operates;
-
Strengthen anti-racist positioning.
Learn more about our commitment and initiatives in the Diversity,
Equity and Inclusion Report 2020/2021.
Click here
![Photo of man and boy in the middle of a plantation. Man looks down as he works and boy smiles as he looks at man.]()
![.]()
Photo: Alexandre Rezende
Social and Relationship
Capital
Our relationships with all stakeholders inside and outside the company
Our social ambition is to be a partner company in the development of
resilient communities, engaged in issues relevant to humanity and
committed to sustainable mining.
Private Social Investment
TerPaz
In 2021, the first community complex of the Usina da Paz was
inaugurated, in the Icuí-Guajará neighborhood, in Ananindeua
(PA). The space is inclusive and with sustainable
architecture, built in regions with high rates of violence
and social vulnerability and aimed at serving local
communities. It offers a wide range of sports and leisure
services, such as legal advice and document issuing,
vocational training, family health, library, swimming pool
and digital inclusion rooms, among others.
The Vale Foundation
The Vale Foundation seeks to strengthen public policies and
contribute to the social development of Vale's territories.
In 2021, its initiatives impacted more than 860,000 people
in 50 municipalities in six Brazilian states.
-
Literacy Tracks (Trilhos da alfabetização)
Project
- about 70 thousand children benefited in the public
network;
-
Networked Territories (Territórios em Rede)
- 2,480 children from Serra (ES) and Marabá (PA) were
reinserted into the educational system;
-
Health Cycle (Ciclo Saúde) - 175 basic
health units (UBS) supported and 2,200 trained professionals.
Learn more
The Vale Fund
The Vale Fund acts with the objective of strengthening a
more sustainable, fair and inclusive economy. Since 2010, it
has supported the construction of a new economic reality by
investing in business development, knowledge generation,
strengthening the impact ecosystem and financial
arrangements aiming to conserve and recover the environment,
especially in the Amazon.
-
AMAZ, the Amazon impact accelerator - By
2030, 30 businesses will be selected in annual calls,
which will receive total expected contributions of USD 2.3
million.
-
Covid-19 Response Plan and Emergency Credit
Line
- USD 1 million contributed to family farming and
extractive associations and cooperatives through the
Covid-19 Response Plan, between 2020 and 2021.
-
Amazon At Home, Forest Standing (Amazônia em Casa,
Floresta em Pé)
- A space for innovation and co-creation focused on
prototypes and tests, the Lab tested solutions to boost
the bioeconomy in the region.
-
Strengthening the Impact Ecosystem -
Partners such as Instituto de Cidadania Empresarial (ICE),
Instituto Phi, Latimpacto (Rede de Venture Philantropy da
América Latina), Aspen Network of Development
Entrepreneurs (ANDE), Pipe Social and Move.Social were
part of this trajectory.
Learn more
Vale Cultural Institute
In 2021, more than 200 projects were supported and sponsored
in 160 Brazilian municipalities. The four cultural spaces of
the Institute (Casa da Cultura de Canãa dos Carajás, Centro
Cultural Vale Maranhão, Memorial Minas Gerais Vale and Museu
Vale) carried out more than 1.9 thousand actions, which
reached more than 1.6 million people, and the Vale Música
musical training program held more than 622 classes.
USD 73 million of investments in culture.
Largest company that encourages culture in Brazil in the
last three years, according to the investment ranking of the
Federal Culture Incentive Law
Learn more
The Vale Volunteer Network
In 2021, the Vale Volunteer Network united more than 5,000
volunteers, who took part in 150 actions. Among them, the
Brazil Without Hunger and Christmas Without Hunger campaigns
stand out, which integrated Vale's Humanitarian Action to
combat hunger and had several partners. It also partnered
with clinics and blood banks in several states and expanded
spaces in her own clinics to receive blood donations, as
well as acting in the causes of organ donation, reading
promotion, menstrual dignity campaigns, inclusive races and
animal protection actions, among others.
Learn more
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