Vale´s CEO speaks on webcast for investors and analysts

About Vale

5/10/2019

Vale´s CEO speaks on webcast for investors and analysts

“Well… first of all, I would like to offer, on behalf of all Vale’s employees, our sincere apologies for what happened in Brumadinho.” With this speech, Eduardo Bartolomeo opened his first conference with investors as CEO on Friday, May 10. The company reported its production and financial results for the first quarter of 2019 (1Q19) on May 8 and 9, respectively.

In the coference, Bartolomeo reinforced Vale's priorities from now on: safety, people and repair. He also announced the creation of the Operational Safety and Excellence Board, with direct reporting of operational risk management to the CEO and the Board of Directors.

Strategic pillars

“Our agenda for the next years goes beyond the full reparation of the damage. We will keep on pursuing the previously established priorities, by which I mean: the turnaround of the Base Metals division, the discipline in capital allocation, and the maximization of the Flight-to-quality trend in Iron Ore, adding 2 new priorities: the focus on Safety and Operational Excellence and the creation of a New pact with Society, explained Bartolomeo.

pilares

About the Dam Breach in Brumadinho

Throughout the investor conference, Vale's CEO reinforced the company's measures regarding the Brumadinho dam breach and the people directly impacted.

In the meeting, Bartolomeo said that the company´s mission is to transform the way we operate by working on three interconnected fronts: (i) safety and risk management; (ii) asset management; and (iii) in the organization, process and culture, which are represented in our management system, the Vale Production System (VPS).The Operational Safety and Excellence Board was created for this, and it will report directly to the CEO and the Board of Directors.

Another relevant subject pointed out by Bartolomeo is to give transparency to the investigation on the causes of the tragedy. The company also initiated two independent investigations.

We will never forget Brumadinho. our legacy will be to transform Vale into the safest and, therefore, the most reliable mining company in the world.

Eduardo Bartolomeo, Vale´s CEO.

Check out some repair actions announced at the conference

 

US$ 76 million in donations

 

US$ 13 million in donations to Fire Department, Civil Defense and Police Force

 

Provision of US$ 2.3 billion for agreements

 

65 monitoring points and daily analysis of water and sediments

 

5 membranes installed to retain sediments

 

Investments in Water Treatment Stations to restrain environmental impact and reestablish community water supply

Access Vale´s Financial Report

Access Vale´s Production Report

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Vale´s CEO speaks on webcast for investors and analysts