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As a global supplier of essential raw materials to a wide range of strategic industries, we hold interests and investments in both local and international enterprises, including joint ventures (“JVs”) and consortia. These companies enable us to maximize sustainable value for our shareholders through exposure to various industries. 

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Our portfolio of non-controlled companies include operations in areas such as iron ore, pelletizing and power generation.  
These enterprises may be operated by Vale, by partners or have an independent management. In companies where Vale does not operate or control, our level of influence and ability to identify and manage risks may be limited. Nevertheless, we actively promote best-practices, controls and procedures by nominating capable representatives to these companies’ governance bodies. 

The Vale Group Business and Entity Management Policy defines guidelines and principles for the management of these companies, ensuring that best governance practices are consistently adhered to while maintaining a lean and efficient structure that aligns with Vale’s core values. 
Our aim is to implement effective decision-making processes within our joint ventures, ensuring alignment between Vale’s and the JVs’ strategies, while helping them to achieve sustainability. 

We also seek to actively influence these operations by providing our expertise and specialized support to help them adopt internationally recognized standards and best practices, especially in ESG (read more below). 


The list of our partners in the ventures mentioned below includes BHP, Rio Tinto, Mitsui, Sumitomo, JFE Steel, Nippon Steel, Arcelor Mittal, Posco, Ilva, Brookfield, Cemig and CSN among others. 

Our most significant joint ventures and the respective Vale’s ownership (%) are listed below:

Affiliates and joint ventures % ownership
Aliança Geração de Energia S.A.
Aliança Norte Energia Participações S.A¹
Baovale Mineração S.A.
Companhia Coreano-Brasileira de Pelotização
Companhia Hispano-Brasileira de Pelotização
Companhia Ítalo-Brasileira de Pelotização
Companhia Nipo-Brasileira de Pelotização
Consórcio Estreito Energia - CESTE
Consórcio Machadinho
Consórcio UHE Candonga
Mineração Rio do Norte S.A.
MRS Logística S.A.²
Samarco Mineração S.A.

Guiding principles

In our oversight and management of the JVs, we seek to ensure: (i) adequate corporate-level accountability within Vale; (ii) adequate strategic guidance through our influence on critical issues of each business and alignment on risk and corporate integrity management, and (iii) the requested functional support to the businesses in which we hold a participation. We recognize that Vale has a role in implementing best practices and formalizing procedures across various domains, including sustainability-related issues. 

Advancing progress on ESG 

We are continuously collaborating with our JVs to implement best practices in governance, risk management, compliance, and other management and operational aspects such as safety, climate change, and human rights.  

We also organize thematic meetings between employees from joint ventures alongside their counterparts or experts from Vale. These meetings are an opportunity to share best practices and deepen collective knowledge.

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