B3: VALE
NYSE: VALE
EPA: VALE
BME: VALE
Headquarters:
Brazil
Sector:
Diversified
Government Ownership:
Majority State Ownership (Brazil)
Pre-tax Revenues (in BUSD):
27.488 (31/12/2016)
Number of employees:
73,062 (31/12/2016)
Number of workers
(employees + contract workers):
134,000 (31/12/2016)
Company-reported mining worker fatalities:
  • 2015 |
    Employees: 15Contractors: 4
  • 2016 |
    Employees: 2Contractors: 3
Home countries, where the company is headquartered
Producing countries, where the company has mining operations
Mine sites selected for mine-site-level assessment

Summary Results

Vale achieves one of the three strongest results for Economic Development, largely due to its systematic actions to partner with producing country research institutions to strengthen their capacity to conduct research and development on EESG issues related to mining. The company also has systems in place to ensure its operations support skills development within producing countries.

Vale is also among the ten strongest performers for Lifecycle Management and Working Conditions. In Lifecycle Management, the company’s strongest result relates to its system for integrating environmental and social issues into its decision-making on mergers and acquisitions, while in Working Conditions its best results relate to its formal commitment to provide a safe and healthy working environment and its systematic tracking of the effectiveness of its measures to implement this commitment.

Overall, Vale’s results across all areas are limited by a lack of evidence on Community Wellbeing. For example, while Vale has made a formal commitment to respect human rights and shows evidence of resourcing the implementation of this commitment, no evidence was found of the company systematically carrying out human rights due diligence or reporting on its performance in managing human rights issues.

Economic Development

0.555 / 1.000

Business Conduct

0.504 / 1.000

Lifecycle Management

0.324 / 1.000

Community Wellbeing

0.197 / 1.000

Working Conditions

0.575 / 1.000

Environmental Responsibility

0.391 / 1.000

The maximum value of 1.000 represents the aggregation of best scores achieved for all indicators in a given thematic area, taking into account all companies’ results. As the aggregate best score varies from one area to another, these charts cannot be used to compare company performances across different areas.

All company results are based on public domain data that have been sourced by RMI analysts or provided by companies. In the case of a few companies, very little information was available. It is important to note that a low score may only reflect a lack of relevant information in the company’s publicly available documentation.

Relative company performance

Commitment (11 indicators)

Action (41 indicators)

Effectiveness (21 indicators)

1.000 = aggregation of best scores for all indicators of this measurement area.

Indicator-by-indicator results

Economic Development

Selected Mine sites results

Mine sites individually assessed but not included
in the overall company score

Mine Site NameLocal Procurement (score /6.00)Local Employment (score /6.00)Community grievance mechanism (score /6.00)Workers grievance mechanism (score /6.00)Water quality and quantity (score /6.00)Biodiversity management (score /6.00)Mine site (score /6.00)
Bayóvar0000200.33
Goro0100210.67
Moatize2000000.33
Onça Puma0000000.00
PTVI6200201.67

List of all mine sites

Mine Site NameAliasesCountryCompany's share (%)ProductsMining types
AraxáBrazil100Phosphate RockOpen-pit
AzulBrazil100Manganese OreOpen-pit, Tailings Leach
BayóvarPeru40Phosphate RockOpen-pit
CajatiBrazil100Phosphate RockOpen-pit
CatalãoBrazil100Phosphate RockOpen-pit
CorumbáBrazil100Iron OreOpen-pit
GoroVale Nouvelle-Caledonie, VNCNew Caledonia95Nickel, CobaltOpen-pit
MarianaTimbopeba, Fabrica Nova, FazendãoBrazil100Iron OreOpen-pit
Minas CentraisBau, Brucutu, Gongo SocoBrazil100Iron OreOpen-pit
Minas ItabiritoBrazil100Iron OreOpen-pit
MoatizeMozambique95CoalOpen-pit
Morro da MinaBrazil100Manganese OreOpen-pit
Onça PumaBrazil100NickelOpen-pit
PTVISorowako, East Pomalaa, PT Vale IndonesiaIndonesia59.2Nickel, CobaltOpen-pit
ParaopebaCapao Xavier, Córrego do Feijão, Jangada, Mar AzulBrazil100Iron OreOpen-pit
Patos de MinasBrazil100Phosphate RockOpen-pit
PatrocínioBrazil100Phosphate RockOpen-pit
Porto TrombetasBrazil40BauxiteOpen-pit
SaloboBrazil100CopperOpen-pit
Samarco (Vale)*Germano, Complexo de AlegriaBrazil0Iron OreOpen-pit
Serra LesteSL1Brazil100Iron OreOpen-pit
Serra NorteBrazil100Iron OreOpen-pit
Serra SulS11CDBrazil100Iron OreOpen-pit
SossegoBrazil100CopperOpen-pit
SudburyCanada100Nickel, Copper, Cobalt, Platinum, Palladium, SilverUnderground
TapiraBrazil100Phosphate RockOpen-pit
Taquari-VassourasSergipeBrazil100PotashOpen-pit
UrucumBrazil100Iron Ore, Manganese OreUnderground
Vargem GrandeBrazil100Iron OreOpen-pit
Voisey's BayCanada100Nickel, Copper, CobaltOpen-pit, Underground
*Joint-Venture not under direct control of the company and not included in RMI assessment

Closed mine sites (controlled assets under care & maintenance, closure or post-closure management)

Mine Site NameAliasesCountryCompany's share (%)ProductsMining typesYear of closure
BirchtreeCanada100NickelUnderground2017
CapanemaBrazil100Iron OreOpen-pit2003
Copper Cliff SouthCanada0Nickel, CopperUnderground2009
Crean HillCanada100NickelOpen-pit, Underground2002
Córrego de MeioBrazil100Iron OreOpen-pit2005
Igarapé BahiaBrazil100Gold, CopperOpen-pit2002
ItabiraBrazil100Iron Ore, GoldOpen-pit2001
Maria PretaBrazil100GoldOpen-pit1997
ShebandowanCanada100NickelOpen-pit1998
ThompsonCanada100Nickel, Copper, CobaltUnderground2017
WhistleCanada100NickelOpen-pit1998

Assets sold during the assessment period

Mine Site NameAliasesCountryProductsMining types
Carborough DownsAustraliaCoalOpen-pit

Main Shareholders

As of: 09/02/2018Shares (%)
Valepar S.A.36.12
Litel Participacoes SA20.98
BNDES Participações S.A. - BNDESPAR (State of Brazil)14.8
Mitsui & Co Ltd5.42
BlackRock Institutional Trust Company, N.A.5
Capital International, Inc.2.81
Capital World Investors1.63
The Vanguard Group, Inc.1.4
Capital Research Global Investors1.39
Dimensional Fund Advisors, L.P.1.03
Caixa Econômica Federal0.81
Itaú Unibanco S.A.0.6
BB Gestão de Recursos - DTVM S.A.0.53
BRAM - Bradesco Asset Management S.A. DTVM0.49
Santander Brasil Asset Management DTVM S.A.0.27

Known Subsidiaries

As of: 31/12/2016Country
Aços Laminados do Pará S.A.Brazil
Australian Coal Inter Holding (NL) I B.VAustralia
Balderton Trading CorporateBritish Virgin Islands
Belcoal Pty LtdAustralia
Belvedere Australia (BP) PTY LtdAustralia
Belvedere Coal Management Pty LtdAustralia
Biopalma da Amazônia S.A - Reflorestamento, Indústria e ComércioBrazil
Bowen Central Coal Pty Ltd. - (ACN107 198 676)Australia
Bowen Central Coal Sales Pty Ltd. - (ACN 107 201 230)Australia
Broadlea Coal Management Pty Ltd. - (ACN 104 885 994)Australia
Caemi Holding GmbHAustria
Camberwell Coal Pty Ltd. - (ACN 003 825 018)Australia
Carborough Downs Coal Management Pty Ltd (ACN 108803461)Australia
Carborough Downs Coal Sales Pty Ltd - (ACN 108 803 470)Australia
CMM Overseas S.ASwitzerland

Known Tax Jurisdictions

AustriaBrazilCanadaIndonesiaMalaysiaMozambique
NetherlandsNew CaledoniaOmanSwitzerland

Recent involvements in Investor/State investment disputes (since 2014)

No case

Disclaimer

The findings, conclusions and interpretations within this 2018 Responsible Mining Index (RMI) report do not necessarily represent the views of funders, trustees, and employees of the Responsible Mining Foundation, and others who participated in consultations and as advisors to the report.

This report is intended to be for information purposes only and is not intended as promotional material in any respect. The report is not intended to provide accounting, legal, tax or investment advice or recommendations, neither is it intended as an offer or solicitation for the purchase or sale of any financial instrument. In order to fully understand the methodology of the 2018 Responsible Mining Index, the respective sections on the website should be consulted.

The RMI seeks evidence of companies’ policies and practices on economic, environmental, social and governance (EESG) issues, but does not seek to measure the actual outcomes achieved on EESG issues. Results are based only on evidence sourced from the public domain or provided by companies as open data. Whilst this information is believed to be reliable, no guarantee can be given that it is accurate or complete, nor does it preclude the possibility that policies and practices may exist, but which the RMI has not been able to consider for purposes of assessment. In this respect, the results of the low-scoring companies do not necessarily reflect a lack of relevant policies and practices; as they may be due to a lack of public reporting by the companies, limitations in accessing information, and/or any difficulties in accessing the RMI company portal.

It should be noted that, prior to publication, all companies in the Index were invited to check the factual accuracy of the contextual data and evidence upon which the Index is based and to review company information in the RMI document library.

Although every effort has been made to verify the accuracy of translations, the English language version should be taken as the definitive version. The RMI reserves the right to publish corrigenda on its web page, and readers of the 2018 RMI report should consult the web page for corrections or clarifications https://www.responsibleminingindex.org.