Company report
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.
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)
Indicator-by-indicator results
Economic Development
A.01 National and Regional Socio-Economic Development Planning
A.02 Procurement
A.03 Capacity Building
A.04 Enhancing the National Skills Base
Selected Mine sites results
Mine sites individually assessed but not included
in the overall company score
| Mine Site Name | Local 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) |
|---|---|---|---|---|---|---|---|
| Bayóvar | 0 | 0 | 0 | 0 | 2 | 0 | 0.33 |
| Goro | 0 | 1 | 0 | 0 | 2 | 1 | 0.67 |
| Moatize | 2 | 0 | 0 | 0 | 0 | 0 | 0.33 |
| Onça Puma | 0 | 0 | 0 | 0 | 0 | 0 | 0.00 |
| PTVI | 6 | 2 | 0 | 0 | 2 | 0 | 1.67 |
List of all mine sites
| Mine Site Name | Aliases | Country | Company's share (%) | Products | Mining types |
|---|---|---|---|---|---|
| Araxá | Brazil | 100 | Phosphate Rock | Open-pit | |
| Azul | Brazil | 100 | Manganese Ore | Open-pit, Tailings Leach | |
| Bayóvar | Peru | 40 | Phosphate Rock | Open-pit | |
| Cajati | Brazil | 100 | Phosphate Rock | Open-pit | |
| Catalão | Brazil | 100 | Phosphate Rock | Open-pit | |
| Corumbá | Brazil | 100 | Iron Ore | Open-pit | |
| Goro | Vale Nouvelle-Caledonie, VNC | New Caledonia | 95 | Nickel, Cobalt | Open-pit |
| Mariana | Timbopeba, Fabrica Nova, Fazendão | Brazil | 100 | Iron Ore | Open-pit |
| Minas Centrais | Bau, Brucutu, Gongo Soco | Brazil | 100 | Iron Ore | Open-pit |
| Minas Itabirito | Brazil | 100 | Iron Ore | Open-pit | |
| Moatize | Mozambique | 95 | Coal | Open-pit | |
| Morro da Mina | Brazil | 100 | Manganese Ore | Open-pit | |
| Onça Puma | Brazil | 100 | Nickel | Open-pit | |
| PTVI | Sorowako, East Pomalaa, PT Vale Indonesia | Indonesia | 59.2 | Nickel, Cobalt | Open-pit |
| Paraopeba | Capao Xavier, Córrego do Feijão, Jangada, Mar Azul | Brazil | 100 | Iron Ore | Open-pit |
| Patos de Minas | Brazil | 100 | Phosphate Rock | Open-pit | |
| Patrocínio | Brazil | 100 | Phosphate Rock | Open-pit | |
| Porto Trombetas | Brazil | 40 | Bauxite | Open-pit | |
| Salobo | Brazil | 100 | Copper | Open-pit | |
| Samarco (Vale)* | Germano, Complexo de Alegria | Brazil | 0 | Iron Ore | Open-pit |
| Serra Leste | SL1 | Brazil | 100 | Iron Ore | Open-pit |
| Serra Norte | Brazil | 100 | Iron Ore | Open-pit | |
| Serra Sul | S11CD | Brazil | 100 | Iron Ore | Open-pit |
| Sossego | Brazil | 100 | Copper | Open-pit | |
| Sudbury | Canada | 100 | Nickel, Copper, Cobalt, Platinum, Palladium, Silver | Underground | |
| Tapira | Brazil | 100 | Phosphate Rock | Open-pit | |
| Taquari-Vassouras | Sergipe | Brazil | 100 | Potash | Open-pit |
| Urucum | Brazil | 100 | Iron Ore, Manganese Ore | Underground | |
| Vargem Grande | Brazil | 100 | Iron Ore | Open-pit | |
| Voisey's Bay | Canada | 100 | Nickel, Copper, Cobalt | Open-pit, Underground |
Closed mine sites (controlled assets under care & maintenance, closure or post-closure management)
| Mine Site Name | Aliases | Country | Company's share (%) | Products | Mining types | Year of closure |
|---|---|---|---|---|---|---|
| Birchtree | Canada | 100 | Nickel | Underground | 2017 | |
| Capanema | Brazil | 100 | Iron Ore | Open-pit | 2003 | |
| Copper Cliff South | Canada | 0 | Nickel, Copper | Underground | 2009 | |
| Crean Hill | Canada | 100 | Nickel | Open-pit, Underground | 2002 | |
| Córrego de Meio | Brazil | 100 | Iron Ore | Open-pit | 2005 | |
| Igarapé Bahia | Brazil | 100 | Gold, Copper | Open-pit | 2002 | |
| Itabira | Brazil | 100 | Iron Ore, Gold | Open-pit | 2001 | |
| Maria Preta | Brazil | 100 | Gold | Open-pit | 1997 | |
| Shebandowan | Canada | 100 | Nickel | Open-pit | 1998 | |
| Thompson | Canada | 100 | Nickel, Copper, Cobalt | Underground | 2017 | |
| Whistle | Canada | 100 | Nickel | Open-pit | 1998 |
Assets sold during the assessment period
| Mine Site Name | Aliases | Country | Products | Mining types |
|---|---|---|---|---|
| Carborough Downs | Australia | Coal | Open-pit |
Main Shareholders
| As of: 09/02/2018 | Shares (%) |
|---|---|
| Valepar S.A. | 36.12 |
| Litel Participacoes SA | 20.98 |
| BNDES Participações S.A. - BNDESPAR (State of Brazil) | 14.8 |
| Mitsui & Co Ltd | 5.42 |
| BlackRock Institutional Trust Company, N.A. | 5 |
| Capital International, Inc. | 2.81 |
| Capital World Investors | 1.63 |
| The Vanguard Group, Inc. | 1.4 |
| Capital Research Global Investors | 1.39 |
| Dimensional Fund Advisors, L.P. | 1.03 |
| Caixa Econômica Federal | 0.81 |
| Itaú Unibanco S.A. | 0.6 |
| BB Gestão de Recursos - DTVM S.A. | 0.53 |
| BRAM - Bradesco Asset Management S.A. DTVM | 0.49 |
| Santander Brasil Asset Management DTVM S.A. | 0.27 |
Known Subsidiaries
| As of: 31/12/2016 | Country |
|---|---|
| Aços Laminados do Pará S.A. | Brazil |
| Australian Coal Inter Holding (NL) I B.V | Australia |
| Balderton Trading Corporate | British Virgin Islands |
| Belcoal Pty Ltd | Australia |
| Belvedere Australia (BP) PTY Ltd | Australia |
| Belvedere Coal Management Pty Ltd | Australia |
| Biopalma da Amazônia S.A - Reflorestamento, Indústria e Comércio | Brazil |
| 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 GmbH | Austria |
| 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.A | Switzerland |
Known Tax Jurisdictions
| Austria | Brazil | Canada | Indonesia | Malaysia | Mozambique |
| Netherlands | New Caledonia | Oman | Switzerland |
Recent involvements in Investor/State investment disputes (since 2014)
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.
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