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

 

February 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-__.)

 

 

 

 

 

 

B3/B4 back-up dam, delivered in 4Q20 Vale’s performance in 2020 1Rio de Janeiro, February 26th, 2021

 

 

 

 

  We entered intothe Global Settlement for Integral Reparation 3 Approximate figure, including amounts already disbursed. Clear governance Fair and swift reparation Legal certainty Known impact Mediation Legitimacy Open dialogue and active listening Individual damages Indemnification settlements continue +9,000 people with agreementsOpening remarks

 

 

 

 

   

 

 

 

 

  Our cultural transformation is underway 4 Boost culture as a strategy facilitator Develop and engage leadership to lead change Influence and model systems according to expected behaviors Integrate existing initiatives so that change is accelerated Formal assessment Prioritization of gaps Roadmap construction Implementation and monitoring New evaluation cycle

 

 

 

 

  We have updated our ESG action plan 5 ✓ 11 gaps solved in 2020 ✓ 37 gaps addressed since 2019 52 gaps mapped +11 gaps included in 2021 37 63 6 14 Gaps solved by 2020 1 Completion after AGM 2021 Completion in 2H21 5 Completion by 2022 Deadline for completion under evaluation Total

 

 

 

 

  We continue to move forward with production stabilization 6 US$ 8.8 billion Adjusted EBITDA Iron Ore 2nd highest in our history US$ 445 million Copper EBITDA Record in a quarter

 

 

 

 

  We are de-riskingVale 7 Keeping a fast pace and quality at Brumadinho’s reparation Becoming one of the safest and most reliable mining companies Resuming production under safe conditions Focusingondiscipline in capital allocation

 

 

 

 

  Iron Ore Business

 

 

 

 

  We are progressing on resumption plan 9 318 322 350 400 450 Investor Tour 2020 Today End of 2022 End of 2021 Future Iron ore capacity (Mtpy) Production guidance 2021 315-335 Mt Recent achievements December 2020 • Serra Leste: resumption of operations, adding 4 Mtpy capacity • Capanema: project approval with 18 Mtpy capacity (start-up in 2023) • Fábrica: resumption of dry processing operations, adding 2 Mtpy capacity February 2021 • Serra Norte: Board approval of N3 mining front development (start-up in 2022) • Itabira: removal of Itabiruçu dam emergency level¹ January 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 Northern System Southeastern System Southern System 1 Complementary geotechnical investigations are underway to determine the engineering measures for the continuity of the dam raising construction works.

 

 

 

 

  We are progressing on resumption plan 10 What is next? Southeastern System Southern System Northern System 4Q21 Brucutu Torto dam start-up +17 Mtpy Serra Leste S11D Crushers’ installation to Repower crushers process jaspilite ores +2 Mtpy +2 Mtpy Potential restrictions in 2021 Temporary tailings disposal restrictions due to limited disposal areas -9 Mtpy Licensing delays and lower performance (e.g. Mutuca, Serra Norte) -5 Mtpy

 

 

 

  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)

 

Date: February 26, 2020 By: /s/ Ivan Fadel
    Head of Investor Relations