Vale S.A. informed that its board of directors approved the reorganization of base metals operations held by Vale S. A in Brazil. The approval provides for the transfer of the Brazilian copper assests to Salobo metals S. A and the transfer of Brazilian nickel assests to a new company to be established by Vale in Brazil. Both copper and nickel assests will continue to be consolidated and the wholly owned by vale.

With the reorganization, Brazilian base metals assests will be combined in to two entities, enabling more efficient processes and management. Vale clarifies that there is currently no decision regarding new transaction with its Base metals business and informs that it will keep the market informed on any relevant updates.