Vale : 03/16/2017 Vale informs on the partial ratification of the Preliminary Agreement entered with Federal Prosecutors on January 18, 2017
March 16, 2017 at 07:23 pm EDT
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Rio de Janeiro, March 16, 2017 - Vale S.A. (Vale) informs that 12th Federal Civil Court of Minas Gerais partially ratified the preliminary agreement (Preliminary Agreement) entered by Samarco Mineração S.A (Samarco) and its shareholders, Vale and BHP Billiton Brasil Ltda (BHPB) with the Federal Prosecutor's Office in Brazil (Federal Prosecutors) on January 18, 2017, which established procedures and timeframe for the entering of a final agreement, engagement of experts to provide technical support to the Federal Prosecutors and establishment of guarantees.
The general terms of the decision of the 12th Federal Civil Court of Minas Gerais are the following: (i) ratification of the engagement of experts to perform a socioenvironmental impact assessment and assessment of programs under the Framework Agreement signed on March 2nd, 2016 and a period of 60 days for the companies to engage an expert to perform the socioeconomic impact assessment; (ii) suspended claim nº 023863-07.2016.4.01.3800, filed by the Federal Prosecutors (total value of R$ 155 billion), and the claim nº 0069758-61.2015.4.01.3400, filed by the Federal Government, the states of Minas Gerais and Espírito Santo and other governmental authorities (total value of R$ 20 billion), and determined the consolidation and suspension of other related claims aiming to avoid contradictory or conflicting decisions and to establish a unified judicial procedure in order for the parties to be able to reach a final agreement; (iii) accepted the guarantees proposed by Samarco and its shareholders under the Preliminary Agreement on a temporary basis.
This is an important decision that recognizes the complexity and importance of reaching a consensual solution in order to implement the necessary measures to remediate all the impacts caused by the Samarco dam failure. All the programs under the Framework Agreement entered into by the companies and the governmental authorities on March 2nd, 2016 continue to be effective and are currently being implemented.
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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 and not on historical facts, 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), the French Autorité des Marchés Financiers (AMF), and The Stock Exchange of Hong Kong Limited, and in particular the factors discussed under 'Forward-Looking Statements' and 'Risk Factors' in Vale's annual report on Form 20-F.
Vale SA published this content on 16 March 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 16 March 2017 23:23:13 UTC.
Original documenthttp://www.vale.com/EN/investors/information-market/Press-Releases/Pages/vale-informs-on-the-partial-ratification-of-the-preliminary-agreement.aspx
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Vale S.A. is one of the world's leading metallurgy and mining groups. Revenues break down by family of products as follows:
- ferrous minerals and metals (80,2%): ferrous minerals (85.1% of revenues; 254 Mt sold in 2020), ferrous mineral granules (13.2%; 31.2 Mt), iron alloys and manganese (0.7%; 1.4 Mt), and other (1%);
- non-ferrous minerals and metals (17.9%): nickel, precious metals, and cobalt (69.7% of revenues; 211 Kt of nickel sold) and copper (30.3%; 247 Kt);
- coal (1.2%): metallurgical coal (2.9 Mt sold) and thermal coal (3 Mt);
- other (0.7%).
Revenues are distributed geographically as follows: Brazil (7.3%), the United States (2.6%), Americas (1.5%), China (57.8%), Japan (5.5%), Asia (8.2%), Europe (13.3%) and Middle East/Africa/Oceania (3.8%).
VALE S.A. 
