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  4. Bolsa de Valores de Sao Paulo
  5. Vale S.A.
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End-of-day quote. End-of-day quote Bolsa de Valores de Sao Paulo - 12/03
71.87 BRL   -2.20%
12/02VALE S A : tests biochar in pellet production
11/30VALE S A : innovates by producing sustainable sand which reduces the generation of tailings
11/30VALE S A : Voisey's Bay Mine awarded Miner of the Year
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Vale S A : Dam disasters were wake up call for Brazil's Vale, CEO says

10/06/2021 | 05:11am EST
FILE PHOTO: A logo of the Brazilian mining company Vale SA is seen in Brumadinho

RIO DE JANEIRO (Reuters) - After two deadly dam disasters that made Vale SA a pariah of the global green movement, Brazil's largest mining company is striving to put the environment and climate at the heart of its business, Chief Executive Eduardo Bartolomeo told Reuters.

Bartolomeo, speaking in an interview at the Reuters Impact conference, said the disasters - which killed nearly 300 people and caused huge environmental damage in Brazil - were a wake up call that forced the company to think differently.

"I think everybody woke up. I think the incidents, the tragedies, unfortunately pushed us to open up our minds. It's a driving force behind everything we do here at Vale and it is a driving force for the industry as well," he said.

Beyond improving safety, it helped Vale reconsider its wider role too, according to Bartolomeo.

"We need to give back to society, we are a mining company, we extract natural resources, we are only going to be accepted if we share value with society," he said.

Vale plans to invest between $4 billion and $6 billion to reduce emissions by 2030, aiming to cut its direct and indirect carbon emissions by 33%. It plans to hit zero net emissions by 2050.

Bartolomeo said his own remuneration package now sets targets for safety and sustainability, with 20% of his long-term compensation associated with Environmental, Social and Governance (ESG) goals. Vale is also developing a new iron ore pellet that aims to reduce the emissions of steelmaking clients. The so-called green briquette, the result of nearly 10 years of research and development, will be produced in 2023. It is made up of iron ore and a technological binder solution which includes sand from the treatment of mining tailings in its composition, and is capable of resisting high blast furnace temperatures without disintegrating. "This is a new pellet, but a new pellet with 80% less carbon footprint," Bartolomeo said. The estimate is that, in the long term, the company will have the capacity to produce over 50 million tons per year of green briquettes, generating value as well as environmental gains.

"It's a new business for Vale", he said. "This is not greenwashing."

(Reporting by Marta Nogueira, writing by Stephen Eisenhammer, editing by Richard Pullin)

By Marta Nogueira

ę Reuters 2021
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Financials (USD)
Sales 2021 53 705 M - -
Net income 2021 20 676 M - -
Net Debt 2021 866 M - -
P/E ratio 2021 2,96x
Yield 2021 21,4%
Capitalization 62 201 M 62 173 M -
EV / Sales 2021 1,17x
EV / Sales 2022 1,35x
Nbr of Employees 74 316
Free-Float 89,4%
Chart VALE S.A.
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Vale S.A. Technical Analysis Chart | VALE3 | BRVALEACNOR0 | MarketScreener
Technical analysis trends VALE S.A.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 10
Last Close Price 12,71 $
Average target price 19,33 $
Spread / Average Target 52,0%
EPS Revisions
Managers and Directors
Eduardo De Salles Bartolomeo Chief Executive Officer
Gustavo Pimenta Executive VP-Finance & Investor Relations
Denis Cuenca Chief Compliance Officer
Lucio Azevedo Independent Director
Marcelo Gasparino da Silva Independent Director
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