Form 6-K Vale S.A. For: Dec 21

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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

 

December
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-__.)

 

 

 

 

Vale announces the sale of its coal assets

 

Rio
de Janeiro, December 21st, 2021 – Vale S.A. (“Vale” or the “Company”) informs that, on this
date, it has entered into a binding agreement with Vulcan Minerals (“Vulcan”) to sell the Moatize coal mine (“Moatize
mine”) and the Nacala Logistics Corridor (“NLC”) for total proceeds of US$ 270 million, comprised of US$ 80 million
at Closing and US$ 190 million from the existing business until Closing; plus a 10-year Royalty Agreement subject to certain mine
production and coal price conditions. The Closing of the transaction is subject to the satisfaction of customary conditions precedent,
including the approval of the Ministry of Mineral Resources and Energy of Mozambique pursuant to the Mining Law No. 20/2014, and the
approval of the Government of Mozambique pursuant to the Concession Agreements for the change of control and antitrust. Vale is committed
to work together with both Mozambique and Malawi governments to ensure a smooth transition to the new operator.

 

Divestment
process

 

In
early 2021, Vale announced its objective to no longer own coal assets, focusing on its core businesses and on its ambition to become
a leader in low-carbon mining. Over the past 15 years, Vale has worked in partnership with Mozambique and Malawi governments in
the implementation of the Moatize mine and NLC’s 912-km railway for coal transportation, in addition to the revamp of general cargo
operations and passengers transportation. These investments represent a relevant legacy to the countries and are an important driver
for local development. While conducting a responsible search process for an investor in the coal business, Vale continued to support
the project’s ramp-up and its commitments to society and stakeholders.

 

“I
am pleased to announce this important step for the responsible divestment of Moatize and NLC, in a transaction that benefits the communities
and governments where those operations are located and offering a sustainable future for the
operations. This is another accomplishment
 on our commitment to reshape our company, focusing on our core businesses,”
said Eduardo Bartolomeo, Vale CEO.

 

About
Vulcan

 

Vulcan
is a private company and part of the renowned US$ 18 billion Jindal Group. The Jindal Group has rich experience working in Mozambique
with its Chirodzi mine operations, located in the Tete Basin in Mozambique, an open cast mine operating at 5 Mtpa in FY21. Jindal Group
companies are a signatory to the World Steel Sustainable Development Charter, 2015 and are also a Climate Action member with the World
Steel Association. These policies reflect the purpose and intent of the Group towards the United Nation Global Compact, World Steel Sustainable
Development Charter and the Global Reporting Initiative Standards. The Jindal Group also has numerous foundations that are pursuing its
CSR and philanthropic initiatives, with primary focus on addressing health and nutrition needs, drinking water & sanitation, access
to education, women empowerment and others.

 

Gustavo
Duarte Pimenta

Executive
Officer of Investor Relations

 

Ever
since the Covid-19 outbreak began, our highest priority is the health and safety of our employees. Our IR team adopted work-from-home,
and as we continue to face these new circumstances, we strongly recommend you prioritize e-mail and online engagement.

 

For
further information, please contact:

Vale.RI@vale.com

Ivan
Fadel: ivan.fadel@vale.com

Andre
Werner: andre.werner@vale.com

 

 

 

 

Mariana
Rocha: mariana.rocha@vale.com

Samir
Bassil: samir.bassil@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.

 

 

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)

 

  By:   /s/ Ivan Fadel
Date: December 21, 2021   Head of Investor Relations

 

 



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