On Monday (11/29/2021), Vale presented its prospects for the coming
years, at a meeting with investors, in New York, which was broadcast
live. The CEO, Eduardo Bartolomeo, opened the event by reinforcing that
the Company's priority remains to repair Brumadinho quickly and fairly.
The CEO also announced Vale's social ambition:
"Be a partnering company in the development of autonomous communities,
engaged in issues relevant to humanity and committed to sustainable
To achieve this goal, Vale defined three social goals for 2030: be among
the three companies in the sector best positioned in social requirements
according to the main external assessments in sustainable mining; remove
500,000 people out of extreme poverty; and collaborate with the
indigenous communities neighboring all of Vale's operations in the
preparation and execution of their plans in pursuit of the rights set
out in the UN Declaration on the Rights of Indigenous Peoples.
Vale has a history of engagement and social support and a relevant
role in the locations where it operates, but we want to do more. To do
so, we consider our social ambition of being a partner that enables
the development and autonomy of the communities with which we
interact, based on the education-health-income tripod
Eduardo Bartolomeo, Vale’s President.
Eduardo Bartolomeo participated in the meeting along with some of Vale's
Vice Presidents, including: Alexandre D'Ambrosio (Executive Vice
President of Legal and Tax), Carlos Medeiros (Executive Vice President
for Safety and Operational Excellence), Gustavo Pimenta (Executive Vice
President of Finance and Investor Relations), Luciano Siani (Executive
Vice President of Strategy and Business Transformation), Marcello
Spinelli (Executive Vice President, Iron Ore ) and Mark Travers
(Executive Vice President, Base Metals).
Check out the main points announced at Vale Day 2021:
In line with the commitment to social and environmental repair in
the Brumadinho region, Vale signed an agreement, in February 2021,
with the government and justice institutions, for full reparation of
the area affected. Check out some recent actions:
Almost 12,000 people have already been covered by individual
agreements, with a total value equivalent to R$ 2.7 billion reais.
New stage of the 11 km pipeline completed and a new water
collection system from the Paraopeba River, which continues to be
Day care centers and family health units are among the social
works for urban infrastructure delivered by Vale
The health program was expanded from 11 to 15 cities and
professionals were trained to provide care.
Vale anticipated in five years, to 2025, the goal of reaching a
26% representation of women in the workforce. Currently, the
percentage of women at Vale is 18.7% against 13.5% in 2019, when
the Company established the target for women within a global
diversity strategy. Vale announced that it intends to reach 40% of
black employees in leadership roles in Brazil by 2026, against
29%, a number registered after carrying out a self-declared census
of employees in Brazil.
Investing in the best international safety standards, Vale
continued with a de-characterization program for its upstream
dams. Since 2019, 7 upstream dams have been eliminated and, by
2035, another 23 will undergo the same process.
In addition to the dams, other processes to increase employee
safety have been carried out and the Total Recordable Injury
Frequency Rate (TRIFR) dropped 35% from 2018 to 2021.
- New Pact with Society
To achieve its social ambition, Vale defined three social goals
be ranked among the top three companies in the sector in terms
of social requirements according to the main external
assessments in sustainable mining;
remove 500,000 people out of extreme poverty;
collaborate with indigenous communities neighboring all of
Vale's operations in the preparation and execution of their
plans in pursuit of the rights provided for in the UN
Declaration on the Rights of Indigenous Peoples
- Net Zero
Seeking carbon neutrality by 2050, Vale aims at reducing scope 1
and 2 emissions by 33% by 2030. In addition, by 2025 all energy
used in Brazil will be renewable, a goal that will be achieved
globally in 2050.
In the forestry area, +120,000 ha of forests will be protected by
the end of 2021, totaling 1.1 million ha, 80% of which in the
Amazon. By 2030, the goal is to protect and recover +500,000 ha,
reaching 1.5 million.
Regarding Scope 3 emissions, important advances were made, through
partnerships and engagement with customers and suppliers, steps
were taken to decarbonize the steel industry and reduce emissions
- Iron Ore
In line with the strategic pillar of Maximizing flight-to-quality
in Iron Ore, Vale has invested in new ways of operating, reducing
its dependence on tailings dams, through the development of dry
processing solutions, developing concentration solutions dry
cleaning, tailings filtration and disposal of sandy tailings with
From 2019 to 2021, US$ 1.2 billion was invested in filtration
plants and disposal piles, and between 2022 and 2025, an
additional US$ 1.3 billion will be earmarked for this purpose.
Vale will reach 400 Mtpy of capacity in the medium term with its
new way of operating. In 2022, the main deliveries included the
start-up of the tailings filtration plants in Brucutu/Itabira, the
start-up of the Gelado and S11D 100 Mtpa projects and the start-up
of the Torto dam. The value over volume approach will continue to
define the production and sales strategy.
In order to improve Vale's portfolio, the Company seeks to develop
solutions for the decarbonization of the steel industry, through
increased production of high quality ores, dry concentration to
increase the percentage of iron, leadership in the production of
iron and steel products. direct cargo (pellets and green
briquette) and asset-light solutions through partnerships.
Highlights, the green briquette, launched in September 2021, is an
innovative, environmentally friendly solution that has been
developed over 18 years and has been patented in 47 countries. The
solution is applicable to the BF-BOF route, being able to reduce
CO2 emissions by more than 10% when the sintering stage is
replaced, and the direct reduction route, with the capacity to
offer volumes for a growing demand.
- Base Metals
With regard to Base Metals, we had many challenges in 2021. Among
them, a comprehensive review focused on safety of operational
processes, resulting in a profound reassessment of standards,
procedures, training and supervision of maintenance activities,
critical maintenance activities at the Sossego mill and the Onça
Puma furnace and 2 months of interruption of the work in Sudbury,
as well as delays in scheduled maintenance due to the stop in
For 2022, there are important milestones towards performance
recovery. To deliver copper production, we need to stabilize
production from the North Atlantic mines, improve handling at the
Salobo mine and carry out planned maintenance at the Sossego mill.
In nickel production, we need to stabilize the production of the
North Atlantic mines as well, ramp up new projects (VBME -
Voisey's Bay Mine Extension and CCM1 - Copper Cliff Mine 1),
stabilize the Onça Puma operation and carry out the renovation of
the PTVI furnace.
Vale continues to advance in the delivery of the Salobo 3 project
in Carajás and remains committed to the development of new growth
projects in the region, such as the Alemão project which, once
implemented, should add a production of approximately 60 kt of
copper per year.
In Indonesia, we completed the evaluation of alternatives for the
pre-feasibility study of the Hu’u project. We currently estimate
the Onto deposit to contain 17.4 Mt of copper and 32 Moz of gold
in resources (equivalent to a ~15% increase in contained copper
since February 2020).
The project's estimated copper production is 300-350 ktpa during
peak production, with an expected service life of more than 45
years. The pre-feasibility study must be completed in 2024.
In the North Atlantic, Vale is well-positioned in the North
Atlantic electric vehicle market, among the novelties is an
agreement signed with OEM “Original Equipment Manufacturer” to
sell 5% of Class I nickel to North America with a target of
reaching between 30-40% Ni for the electric vehicle industry.
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