Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
March 01 2024 - 6:09AM
Edgar (US Regulatory)
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 2024
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 ¨
Press release |
|
Vale signs definitive agreement on PTVI divestment
Rio de Janeiro, February 26th,
2024 – Vale S/A (“Vale” or “Company”) informs that Vale Canada Limited (“VCL”)
signed a Definitive Agreement with PT Mineral Industri Indonesia (“MIND ID”) and Sumitomo Metal Mining
Co., Ltd. (“SMM”) regarding the divestment obligation of PT Vale Indonesia Tbk (“PTVI”).
For its stake, VCL will receive approximately
US$160 million1 in cash upon closing of the transaction, which is expected to happen before the end of 2024, after the satisfaction
of customary closing conditions.
Once completed, the transaction fulfils
Indonesia’s divestment obligations and satisfies a key condition for PTVI to extend the life of its mining license through the issuance
of a Special Mining Business License (IUPK). Following transaction closure, VCL will maintain significant economic exposure to PTVI as
a non-operated joint venture and will continue to provide strong governance through the Board of Commissioners.
Upon completion of the transaction,
VCL, SMM and MIND ID will hold approximately 33.9%, 11.5% and 34.0% of PTVI, respectively. Approximately 20.6% will continue to be
held by the public on the Indonesia Stock Exchange.
Vale remains steadfast in its commitment
to growing regional opportunities for the responsible production of low-carbon nickel, copper, and other metals critical for the energy
transition.
Gustavo Duarte Pimenta
Executive Vice President, Finance and Investor
Relations
For further information, please contact:
Vale.RI@vale.com
Thiago Lofiego: thiago.lofiego@vale.com
Luciana Oliveti: luciana.oliveti@vale.com
Mariana Rocha: mariana.rocha@vale.com
Pedro Terra: pedro.terra@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.
1
Considering IDR 15,600/USD and agreed share price of IDR 3,050/share.
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.
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Vale S.A.
(Registrant) |
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|
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By: |
/s/ Thiago Lofiego |
Date: February 26, 2024 |
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Director of Investor Relations |
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