5/15/2000

CVRD Acquired SOCOIMEX

CVRD acquired on May 11th, 2000, the total shareholding control of MINERAÇÃO SOCOIMEX S.A. ("SOCOIMEX"), a mining company located in Barão de Cocais, State of Minas Gerais.

SOCOIMEX’s main activity is the production and commercialization of iron ore extracted from the Gongo Sôco Mine, with proven reserves of approximately 75 million tons and capacity to produce 7 million tons/year.

Following CVRD strategic planning, the acquisition of SOCOIMEX aggregates a high grade hematite reserve to the CVRD assets on the Southern System, rising the productivity and improving the quality of its products.

 

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

André Figueiredo: andre.figueiredo@vale.com
André Werner: andre.werner@vale.com
Carla Albano Miller: carla.albano@vale.com
Fernando Mascarenhas: fernando.mascarenhas@vale.com
Samir Bassil: samir.bassil@vale.com
Bruno Siqueira: bruno.siqueira@vale.com
Clarissa Couri: clarissa.couri@vale.com
Renata Capanema: renata.capanema@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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CVRD Acquired SOCOIMEX