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VALE Vale

Filed: 27 Apr 21, 11:59am

 

 

 

United States

Securities and Exchange Commission

Washington, D.C. 20549

 

FORM 6-K

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

of the

Securities Exchange Act of 1934

 

For the month of

 

April 2021

 

Vale S.A.

 

Praia de Botafogo nº 186, 18º andar, Botafogo
22250-145 Rio de Janeiro, RJ, Brazil

(Address of principal executive office)

 

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

 

(Check One) Form 20-F x Form 40-F ¨

 

(Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1))

 

(Check One) Yes ¨ No x

 

(Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7))

 

(Check One) Yes ¨ No x

 

(Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)

 

(Check One) Yes ¨ No x

 

(If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b). 82- .)

 

 

 

   

 

 

asdf_webcastpage001tpage021_i vf_page001.jpg Tailings filtration plant at the Vargem Grande complex, delivered in March 2021 Vale's performance in 1Q21 Rio de Janeiro, April 27th, 2021

 

   

 

asdf_webcastpage001tpage021_i vf_page002.jpg Agenda Disclaimer Nota cautelar para investidores norte-americanos – A SEC permite companhias mineradoras, em seus arquivamentos na SEC, fornecer apenas os depósitos minerais que a companhia pode economicamente e legalmente extrair ou produzir. Nós apresentamos certas informações nesta apresentação, incluindo ‘recursos mensurados’, ‘recursos indicados’, ‘recursos inferidos’, ‘recursos geológicos’, os quais não seriam permitidos em um arquivamento na SEC. Estes materiais não são reservas prováveis ou provadas, como definido pela SEC, e não podemos assegurar que estes materiais serão convertidos em reservas prováveis ou provadas, como definido pela SEC. U.S. Investidores norte-americanos devem considerar as informações no Relatório Anual 20-K, que pode ser obtido através do nosso website ou no site http://http://us.sec.gov/edgar.shtml.”

 

   

 

asdf_webcastpage001tpage021_i vf_page003.jpg Opening remarks

 

   

 

asdf_webcastpage001tpage021_i vf_page004.jpgOur Pact with Society moves forward In 2021¹ 3.4 million intubation medicines² to the Brazilian Ministry of Health Sufficient for the management of 500 hospital beds for 1.5 months 50 million syringes 400 thousand PPEs (masks, gloves and aprons) 36,000 m3 of oxygen to Pará R$ 10 million³ to the Butantan Institute, to support the expansion of the Multi-Purpose Vaccine Production Center (CPMV) ¹ Donations already made or in progress. ²Together with the companies ENGIE, Itaú Unibanco, Klabin, Petrobras, Raízen and TAG. ³Resources planned for 2021. 4

 

   

 

asdf_webcastpage001tpage021_i vf_page005.jpgWe are executing the Global Settlement for Integral Reparation Global Settlement for Integral Reparation The detailing of priority projects in health, social assistance and agriculture has started; Detailing of the governance for the implementation of the agreement and the prioritization / validation of the projects by the people affected. Reparation Advances Socio-economic frontSocio-environmental front ✓+300 family farmers: support and technical assistance Nurseries and health units in Brumadinho and Mário Campos Meeting the demands of the victims' relatives, including Brumadinho Community Center Commissioning of works for the new water pipeline for the Metropolitan Region of Belo Horizonte ✓+300,000 assessments at 800 collection points to monitor the water quality of the Paraopeba River Implementation of +100 water wells and 250 treatment systems Individual indemnifications + 10,200 people with agreements since 2019 5

 

   

 

asdf_webcastpage001tpage021_i vf_page006.jpgWe continue to improve our dam management Emergency level reduction¹ # of dams Dams with HIRA4 methodology in 20215 # of dams 35 33 295 258 2422 18 18Emergency1537 level² 1 2 49 43333 2020³jan-21apr-21 dec-21E 1Q21 2Q21 3Q21 4Q21 2021 ¹Expectation of reduction, subject to the implementation and effectiveness of works and safety improvement measures, among others. Considers dams, dikes and stacked piles. ²Referring to the emergency protocol provided for in the Mining Dams Emergency Action Plan for each structure, considering level 3 as the critical level. 3Considering the maximum number of structures at emergency level in 2020. 4Hazard Identification and Risk Assessment. 5Forecast for the implementation of the HIRA methodology in tailings dams with a high or higher hazard rating in the event of failure. 6

 

   

 

asdf_webcastpage001tpage021_i vf_page007.jpgIn our ESG commitment, we launched Vale's Integrated Report Access and learn about the 2020 Integrated Report at www.vale.com ESG Gaps per estimated completion 7 12 5 2Gaps with completion expected after the 202163 AGM 37Gaps completed by Apr/21: Improved disclosure on the assessment of the Board of Directors; Report on emerging long-term risks. Gaps closed by dec/2020 1H212H212022+ Total gaps 7

 

   

 

asdf_webcastpage001tpage021_i vf_page008.jpg US$ 8.467 billion Record proforma adjusted EBITDA for a 1st quarter¹ US$ 5.847 billion Free Cash Flow, US$ 971 million higher than 4Q20 68,0 Mt Iron ore fines production, 14.2% higher than 1Q20 48,4 kt Finished nickel production ex-VNC, 6.8% higher than 1Q20 ¹Proforma adjusted EBITDA in 1Q21, excluding expenses with Brumadinho and donations related to COVID-19. Excluding non-recurring gain from the transfer of aluminum assets in 1Q11. 8

 

   

 

asdf_webcastpage001tpage021_i vf_page009.jpg Our discipline in capital allocation continues Reparation Brumadinho Renova Brumadinho Global Settlement: US$ 3.541 billion provision Renova Foundation: US$ 1.732 billion provision De-risking Safety & Operational Excellence Production resumption ESG Other obligations US$1.962 billion provision for dam decharacterization² US$ 2 billion-investment in energy self-generation until 2030³ Shareholder remuneration Dividends Buybacks Share buyback program on April 1st Up to 5.3% of the total number of outstanding shares³ Management confidence in Vale’s potential to consistently create and share value Growth opportunities Growth projects Other growth options Low-CAPEX growth options Capanema +14 Mtpy Salobo IV +30 ktpy Onça Puma 2nd furnace ¹As of March 31, 2021 . ²From renewable sources. 9

 

   

 

asdf_webcastpage001tpage021_i vf_page010.jpg Iron Ore

 

   

 

asdf_webcastpage001tpage021_i vf_page011.jpg Iron ore capacity (Mtpy) Recent achievements Northern System Southeastern System Southern System 450 318327 350 400 January 2021 February 2021 Vargem Grande pellet plant: resumption of operations, adding 7 Mtpy of pellet capacity Vargem Grande: approval received to start VGR’s conveyor belt tests Fábrica: approval received to start tests at beneficiation plant facilities Serra Norte: Board approval of N3 mining front development (start-up in 2022) Itabira: removal of Itabiruçu dam emergency level¹ Investor Tour 2020 Today End of 2021 End of 2022 Future March 2021 Timbopeba: Plant’s adaptation for tailings disposal at Timbopeba pit, adding 7 Mtpy capacity Vargem Grande: start-up of tailings filtration plant Production guidance 2021 315-335 Mt 1 Complementary geotechnical investigations are underway to determine the engineering measures for the continuity of the dam raising construc tion works. 11

 

   

 

asdf_webcastpage001tpage021_i vf_page012.jpg What is next? Vargem Grande Fábrica Northern System Southeastern System Southern System 2Q21 Unlock conveyor belt capacity+6 Mtpy Shift to wet processing+4 Mtpy 3Q21 Vargem Grande +4 Start-up of Maravilhas III damMtpy Serra Leste Installation of mobile crushers +2 Mtpy 4Q21 Brucutu +17 Torto dam start-upMtpy S11D Crushers’ installation to process jaspilite ores +2 Mtpy Itabira Start-up of Conceição tailings filtration plant, softening short term disposal restrictions¹ +0 Mtpy in short term Potential ItabiraOther sites restrictions in 2021 Temporary tailings disposal restrictions due to limited disposal areas -7 Mtpy Licensing delays and lower performance (e.g. Mutuca, Serra Norte) -5 Mtpy 12

 

   

 

asdf_webcastpage001tpage021_i vf_page013.jpg VALE

 

   

 

 

Signatures

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Vale S.A.
(Registrant)
  
 By:/s/ Ivan Fadel
Date: April 27, 2021 Head of Investor Relations