About Vale SA
Vale S.A. is a Brazilian multinational diversified metals and mining corporation and one of the largest logistics operators in Brazil. In addition to being the third-largest mining company in the world, Vale is also the largest producer of iron ore, pellets, and second largest of nickel. Vale also produces manganese, ferroalloys, copper, bauxite, potash, kaolin, alumina and aluminium. In the electric energy sector, the company participates in consortia and currently operates nine hydroelectric plants.
Engagement with the EITI
Vale participates in the multi-stakeholder group in Mozambique, Peru and Indonesia (through the membership to the Indonesian Mining Association).
Some companies are members or have representatives in the local multi-stakeholder groups and companies comply with the national EITI requests received.
Financial contribution to the international management of the EITI
Vale is a member of the ICMM since 2018. ICMM makes a contribution to the International EITI on behalf of all its members.
Between 2015 and 2017 Vale made an annual voluntary financial contribution of USD 60,000. In 2018 it made an additional contribution of USD 20,000 in addition to its contribution through ICMM.
From Vale's statement of support:
Since 2009 Vale has publically declared its support for the EITI in its Sustainability Report and reiterates its commitment annually. Initially, Vale's support of the Extractive Industry Transparency Initiative (EITI) was through its membership of the International Council of Mining and Metals (ICMM). In 2014, in order to reinforce its support for the EITI, Vale decided to directly endorse this important initiative.
There is currently a great deal of debate surrounding the most effective way of promoting greater transparency in the extractive industry. Our transparency reporting strategy continues to evolve and improve year on year as we look to maintain best practices, so as to stay ahead of regulatory developments. Multiple country-by-country reporting requirements will affect the mining industry in the near future and we encourage the various stakeholders driving these initiatives to work together in determining a consistent approach that achieves the objective of greater transparency, but does not impose significant additional costs on businesses.
As a leading company in the extractive industry and the world's largest supplier of iron ore, we fully comply with regulations in the countries where we operate. We also believe that it is essential to demonstrate our contribution to governments and local economies as part of good corporate citizenship.