Vale : 08/18/2016 Vale informs about public civil action
August 18, 2016 at 09:45 am EDT
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Rio de Janeiro, August 18, 2016 - Vale S.A. (Vale) informs that, in a trial finalized last night, the Fifth Chamber of the Federal Court of the Second Region has rejected the appeal presented by Vale against the decision rendered by the 12th Federal Court of Belo Horizonte on the lawsuit brought by the Federal Government, the States of Minas Gerais and Espírito Santo and other governmental entities (Brazilian Authorities) against Samarco Mineração S.A. and its shareholders, BHP Billiton Brasil Ltda. and Vale, previously informed to the market. Therefore, the Court maintained the decision that granted some of the injunction requests made by the plaintiffs, which included the determination that the defendants are prohibited from transferring or conveying any interest in its Brazilian iron ore concessions, without, however, limiting their production and commercial activities. The value of the claim remains unaltered at R$ 20.2 billion.
In addition, Vale states that the March 2, 2016 agreement with the Brazilian authorities (the 'Agreement') in connection with the public civil action referred to above continues in effect, and the parties will continue to comply with their obligations under the Agreement. The Renova Foundation has been duly established to develop and execute the long-term remediation and compensation programs provided for under the Agreement.
Vale continues to take all measures to defend its interests in the public civil action, as well as in the judicial approval of the Agreement, and it will keep the market informed in case there is any new information related to the said lawsuit.
For further information, please contact:
+55-21-3485-3900
André Figueiredo: andre.figueiredo@vale.com
Carla Albano Miller: carla.albano@vale.com
Fernando Mascarenhas: fernando.mascarenhas@vale.com
Andrea Gutman: andrea.gutman@vale.com
Bruno Siqueira: bruno.siqueira@vale.com
Claudia Rodrigues: claudia.rodrigues@vale.com
Denise Caruncho: denise.caruncho@vale.com
Mariano Szachtman: mariano.szachtman@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 and not on historical facts, 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), 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.
Vale SA published this content on 18 August 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 18 August 2016 13:45:05 UTC.
Original documenthttp://www.vale.com/EN/investors/information-market/Press-Releases/Pages/Vale-informs-about-public-civil-action.aspx
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Vale S.A. is one of the world's leading metallurgy and mining groups. Revenues break down by family of products as follows:
- ferrous minerals and metals (80,2%): ferrous minerals (85.1% of revenues; 254 Mt sold in 2020), ferrous mineral granules (13.2%; 31.2 Mt), iron alloys and manganese (0.7%; 1.4 Mt), and other (1%);
- non-ferrous minerals and metals (17.9%): nickel, precious metals, and cobalt (69.7% of revenues; 211 Kt of nickel sold) and copper (30.3%; 247 Kt);
- coal (1.2%): metallurgical coal (2.9 Mt sold) and thermal coal (3 Mt);
- other (0.7%).
Revenues are distributed geographically as follows: Brazil (7.3%), the United States (2.6%), Americas (1.5%), China (57.8%), Japan (5.5%), Asia (8.2%), Europe (13.3%) and Middle East/Africa/Oceania (3.8%).