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    VALE3   BRVALEACNOR0

VALE S.A.

(VALE3)
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End-of-day quote. End-of-day quote Bolsa de Valores de Sao Paulo - 11/26
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11/26VALE S A : Extract of the Minutes of the Ordinary Board of Directors Meeting of Vale S.A.
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Vale S A : and Jiangsu Shagang sign MoU to develop steelmaking decarbonization solutions - Form 6-K

10/18/2021 | 11:12am EST

Vale and Jiangsu Shagang sign MoU to develop steelmaking decarbonization solutions

Rio de Janeiro, October 18th, 2021 - Vale S.A ("Vale") has signed a Memorandum of Understanding ("MoU") with Jiangsu Shagang Group Co., Ltd ("Jiangsu Shagang") in which both agreed to pursue opportunities to develop steelmaking solutions focused on reducing CO2 emissions.

Vale and Jiangsu Shagang intend to develop economic feasibility studies of (i) usage of products with lower carbon footprint in ironmaking process, as high-grade iron ore products; and (ii) cooperation on Tecnored plants.

This initiative contributes to achieving Vale's commitment to reduce 15% of net Scope 3 emissions by 2035. Additionally, Vale seeks to reduce its absolute Scope 1 and 2 emissions by 33% by 2030 and achieve neutrality by 2050, in line with the Paris Agreement, leading the evolution process towards low carbon mining.

About Tecnored

Tecnored is a 100% Vale subsidiary focused on developing a low carbon pig iron process through the use of energy sources, such as biomass and syn-gas, that emit less CO2 than the coal and coke the tradition iron-making processes use. Using biomass, the path to economic carbon neutrality may be achieved in the medium term.

About Jiangsu Shagang

Jiangsu Shagang is a Chinese steel producer and service supplier, ranked among the World Top 500 companies for 12 years consecutively and ranked the 351st place in 2020. Currently, Jiangsu Shagang has five production sites, which are mainly located in Jiangsu, Liaoning and Henan Provinces. Jiangsu Shagang has a wide range of steel products, which are exported to more than 100 countries and regions around the world, and widely used in infrastructure, manufacturing, high-end equipment, consumption, etc.

Luciano Siani Pires

Executive Officer of Investor Relations

Ever since the Covid-19 outbreak began, our highest priority is the health and safety of our employees. Our IR team adopted work-from-home, and as we continue to face these new circumstances, we strongly recommend you prioritize e-mail and online engagement.

For further information, please contact:

Vale.RI@vale.com

Ivan Fadel: ivan.fadel@vale.com

Andre Werner: andre.werner@vale.com

Mariana Rocha: mariana.rocha@vale.com

Samir Bassil: samir.bassil@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, 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) and in particular the factors discussed under "Forward-Looking Statements" and "Risk Factors" in Vale's annual report on Form 20-F.

Disclaimer

Vale SA published this content on 18 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 October 2021 15:11:05 UTC.


ę Publicnow 2021
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Financials (USD)
Sales 2021 55 042 M - -
Net income 2021 21 291 M - -
Net cash 2021 1 508 M - -
P/E ratio 2021 2,76x
Yield 2021 22,2%
Capitalization 59 862 M 59 938 M -
EV / Sales 2021 1,06x
EV / Sales 2022 1,13x
Nbr of Employees 74 316
Free-Float 89,4%
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Mean consensus BUY
Number of Analysts 10
Last Close Price 12,24 $
Average target price 20,77 $
Spread / Average Target 69,7%
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Managers and Directors
Eduardo De Salles Bartolomeo Chief Executive Officer
JosÚ MaurÝcio Pereira Coelho President & Director
Gustavo Pimenta Executive VP-Finance & Investor Relations
Denis Cuenca Chief Compliance Officer
Lucio Azevedo Independent Director
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