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MarketScreener Homepage  >  Equities  >  Bolsa de Valores de Sao Paulo  >  Vale S.A.    VALE3   BRVALEACNOR0

VALE S.A.

(VALE3)
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Vale Day 2020: Vale presents goals and strategies for sustainable growth with a focus on people, safety and recovery

12/03/2020 | 04:21pm EST

12/1/2020

Vale Day 2020: Vale presents goals and strategies for sustainable growth with a focus on people, safety and recovery
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On Wednesday, December 2, Vale presented our prospects for the coming years in an exclusively virtual meeting with investors: Vale Day 2020. CEO Eduardo Bartolomeo began the event by reinforcing that the company's number one priority is to recover Brumadinho.

'Since I took over Vale's leadership, my focus has been on people, safety and recovery. We made a pact with society to actively listen, creating a virtuous cycle. The entire team of officers is united and committed to this. We created a guide called the 'one-pager' with this narrative of building a better Vale. We want to become a benchmark company in safety and have the ambition to be a reliable operator, creating value and reducing emissions.'

In addition to Eduardo Bartolomeo, also in attendance were Chief Financial Officer and Investor Relations, Luciano Siani; executive director of Safety and Operational Excellence, Carlos Medeiros; director of Recovery and Development, Marcelo Klein; executive director of Ferrous Minerals, Marcello Spinelli; executive director of Base Metals, Mark Travers; People director, Marina Quental; Coal Business director, Paulo Couto; executive director of Institutional Relations, Communication and Sustainability, Luiz Eduardo Osório; general counsel Alex D'Ambrosio; and executive director of Global Business Support, Alexandre Pereira.

Check out more information about the event and the strategies disclosed by the company below.



ESG

To follow best environmental, social and governance (ESG) practices, Vale has closed 33 of the 52 gaps mapped so far. The company is seeking to go beyond mitigating the environmental impacts of its operations, promoting greater engagement with local stakeholders and implementing several initiatives, such as creating the Audit Committee.

The commitment to lead the transition to carbon-neutral mining was highlighted. A full 80% of our electricity consumption is already renewable and we are on track to achieve our goals. In this context, the Sol do Cerrado Project stands out, scheduled to start operations in 2022, which consists of generating renewable solar energy and will be responsible for 13% of Vale´s self-production volume from renewable sources. In addition, the company announced the goal of reducing net scope 3 emissions by 15%, related to its supply chain and customers, by 2035. Vale is one of the few companies capable of promoting initiatives to reduce scope 3 emissions through high-quality products and innovative solutions.

In addition, Vale invests in urban infrastructure and education that enable socioeconomic development, with over 500 community relations plans. We are taking important steps to build a better Vale.

Access the Carbon Neutral page and learn more about Vale's goals and projects on the topic Access the ESG portal and discover all our initiatives

Base Metals

Vale is transforming its Base Metal business, working diligently to be a safe and reliable producer. Vale has unique and significant opportunities in its Copper and Nickel portfolios, two commodities that will be crucial to decarbonizing the economy.

Copper:
Vale has significant opportunities to grow organically with its Copper business. Salobo III, Alemão and Cristalino are competitive projects that will make it possible to increase Vale's production capacity to around 500 thousand tons per year. In addition to these projects, Vale has other opportunities to grow in the future, benefiting from the knowledge and logistics that already exist in the Carajás region. The potential Salobo 4, North Hub and South Hub projects could add up to 190 thousand tons to the company's production plan.
Finally, the Copper business still has the potential to explore, through partnerships, the Hu'u project, located in Indonesia. Hu'u is a world-class deposit, with a mine life span of approximately 45 years and potential production of over 250 thousand tons of copper.

Nickel:
Vale has a diversified product portfolio with Nickel that puts us in a unique position in relation to the sustainable energy transition that we will see in the coming years. Our products meet the needs of customers in different industries, including those with high-purity nickel needs and electric vehicle battery manufacturers.
Most of our production that will be used in these industries comes from our Canadian operations, which benefit from the use of renewable energy and are located in a stable jurisdiction with strong ESG standards. Class 1 nickel, our main product, puts the company in a unique position with environmentally friendly operations in the North Atlantic, in line with the low-carbon agenda.
By the end of 2021, we will complete two replacement projects in Canada: the extensions of the Voisey's Bay Mine and Copper Cliff Mine 1, which have high nickel content and also a significant amount of by-products.
We also have opportunities to expand our operations at Onça Puma in Brazil, and the option to participate, through joint ventures, in the Pomalaa and Bahodopi projects in Indonesia.
After these projects are implemented and completed, Vale expects the Nickel business to improve its cash generation considerably.

Ferrous minerals

For Ferrous Minerals, the strategic objectives of our company are divided into four fronts:

  • Reducing the use of dams
  • Reaching the 400 Mtpy production level
  • Creating capacity buffers at the operations
  • Improving quality for a greener portfolio

'We will reach a capacity of 400 Mtpy by the end of 2022 and each system contributes to this process: in the North System, we will have high-quality growth with new low-cost assets; in the Southeast, we are investing in increasing our pellet feed; and in the South we continue to contribute to blending, a consolidated product which has become increasingly important commercially in China. We are on the right path, with an engaged team and keeping safety and life first,' said the executive director of Ferrous Minerals, Marcello Spinelli.

Below are examples of ongoing actions:

Reducing the use of dams -> à Increasing production through dry processing to 70%, with production additions in the North System and with the newly approved New Steel plant (which will have a capacity of 1.5 Mtpy). Of the remaining wet production, 16% will use the filtering and dry-stacking system to treat tailings and will be implemented at the Vargem Grande and Itabira complexes and in Brucutu.

Improving quality for a greener portfolio à -> By 2024, 90% of our portfolio will be of high-quality products, adhering to the steel industry's need for lower emissions. In addition, we are creating solutions that work closely with our customers, such as our blending strategy, grinding for production and pellet feed from IOCJ iron ore and strategic partnerships with ports.

Capital allocation

Discipline in capital allocation, first presented at Vale Day 2018, remains one of our strategic objectives. It is developed on three fronts of action: strategies to reduce the company's risk; solutions to reshape the company's business; and consequences that enables us to be better evaluated.

In the context of risk reduction, the financial statement already presented includes provisions that are in line with the prospect of an agreement to recover Brumadinho, as well as initiatives to increase dam safety.

In terms of remodelling our businesses, one of the important points is to reduce cash loss on some fronts:

  • Samarco is resuming its operations in the coming weeks.
  • We are making improvements to the Moatize Mine, which are expected to be completed in the first half of 2021.
  • We expect an acceleration of compensation agreements by Renova.
  • The transition of our care and maintenance plan will continue in New Caledonia in 2021.

Finally, our discipline in allocating capital along with solid cash flow generation will allow us to become a benchmark in creating shared value

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Disclaimer

Vale SA published this content on 01 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 December 2020 21:20:03 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 38 152 M - -
Net income 2020 8 781 M - -
Net Debt 2020 2 712 M - -
P/E ratio 2020 10,6x
Yield 2020 3,62%
Capitalization 91 351 M 92 019 M -
EV / Sales 2020 2,47x
EV / Sales 2021 2,03x
Nbr of Employees 79 646
Free-Float 76,8%
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Technical analysis trends VALE S.A.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 8
Average target price 20,90 $
Last Close Price 17,81 $
Spread / Highest target 46,9%
Spread / Average Target 17,4%
Spread / Lowest Target 0,37%
EPS Revisions
Managers and Directors
NameTitle
Eduardo Bartolomeo Chief Executive Officer
José Maurício Pereira Coelho Chairman
Luciano Siani Pires Executive Director-Finance & Investor Relations
Oscar Augusto de Camargo Filho Director
Marcel Juviniano Barros Director
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