Joint Acquisition of CAEMI


Joint Acquisition of CAEMI

Rio de Janeiro, October 30, 2001 - Today the European Commission in Brussels approved Companhia Vale do Rio Doce (CVRD) and Mitsui & Co., Ltd. (Mitsui) joint acquisition of the Brazilian mining concern CAEMI Mineraçao e Metalurgia S.A. (Caemi). Once the transaction is completed CVRD and Mitsui will each own 50% of Caemi´s voting shares.

CVRD welcomes the European Commission’s decision to approve the transaction. Commenting on the decision, Roger Agnelli, Chief Executive Officer of CVRD, said: "CVRD is delighted that the European Commission have recognized the positive impact that this transaction will have for iron ore customers."

The European Commission cleared the transaction on the basis of an undertaking to divest Caemi’s joint holding in Quebec Cartier Mining Company (QCM), a Canadian iron ore and pellet producer. This undertaking addresses the only competition concerns identified by the European Commission.

Caemi is a Brazilian company, headquartered in Rio de Janeiro, which holds equity investments in iron ore, kaolin, refractory bauxite and railroad transportation.


For further information, please contact:

André Figueiredo:
André Werner:
Carla Albano Miller:
Fernando Mascarenhas:
Samir Bassil:
Bruno Siqueira:
Clarissa Couri:
Renata Capanema:

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.


Joint Acquisition of CAEMI