Vale announces the completion of the Ferrous Resources Limited’s acquisition

Vale S.A. (Vale) informs that it concluded the acquisition of Ferrous Resources Limited (Ferrous) in accordance with the terms disclosed on December 6, 2018. 

Vale reaffirms the importance of this acquisition, which will immediately increase Vale’s own production with 4 Mtpy of high-quality pellet feed at competitive operating costs, once the Viga 4 project had a successful ramp-up, thus reaching its full capacity. Ferrous owns and operates iron ore mines closely located to Vale’s operations in Minas Gerais, Brazil. 

The completion of this acquisition is aligned with Vale’s strategy of maximizing the flight to quality in the Iron Ore business.

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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 the French Autorité des Marchés Financiers (AMF), and in particular the factors discussed under “Forward-Looking Statements” and “Risk Factors” in Vale’s annual report on Form 20-F.