Vale (company)
| Vale SA
|
|
|---|---|
 |
|
| legal form |
Sociedade Anônima Public Company (Brazil) |
| ISIN | BRVALEACNOR0 |
| founding | June 1, 1942 privatized in 1997 |
| Seat |
Rio de Janeiro , Brazil
|
| management | Eduardo de Salles Bartolomeo ( CEO ad interim) |
| Number of employees | 83,286 (2013) |
| sales | 34,090,000,000 USD (2017) |
| Branch | raw materials |
| Website | www.vale.com |
The Vale SA, formerly Companhia Vale do Rio Doce (CVRD), based in Rio de Janeiro , is next to the Rio Tinto Group and BHP one of the three largest mining companies in the world.
With a turnover of 34.1 billion US dollars and a profit of 4.6 billion US dollars, Vale ranks 132nd among the world's largest companies according to Forbes Global 2000 (as of fiscal year 2017). The company had a market value of around USD 77 billion in mid-2018.
share
The stock is traded on the Madrid Stock Exchange , Frankfurt Stock Exchange , NYSE and Bovespa in São Paulo . The company is listed in the Bovespa index .
history
Vale was founded in 1942 as a state-owned company Companhia Vale do Rio Doce (CVRD) in Itabira . In 1997 the company was privatized. With the acquisition of the Brazilian mining company Caemi (March 31, 2006) and the Canadian company Inco (October 24, 2006), CVRD rose to become the second largest mining company in the world. On November 29, 2007, CVRD renamed itself to Vale and its Canadian subsidiary CVRD Inco to Vale Inco . In March 2008, the takeover of the Swiss-British mining group Xstrata failed due to the influence of the major Xstrata shareholder Glencore .
Iron ore
Vale is the largest iron ore exporter in the world with a market share of 35 percent . With this dominant market position, Vale has a major influence on the world market price for iron ore. Since most of the ore is mined in Brazil, Vale has a double competitive advantage: on the one hand, labor costs in Brazil are very low, and on the other hand, the Brazilian state levies very little taxes. Vale generates around 55% of its profits with iron ore.
Vale holds 50% of Samarco Mineração , a joint venture with BHP.
transport
Vale is also one of the largest transport groups in Brazil.
The group operates
- the railway companies EFVM - Estrada de Ferro Vitória a Minas (in traffic between the states of Minas Gerais and Espírito Santo , EFC - Estrada de Ferro Carajás or FNS Ferrovia Norte-Sul SA),
- a shipping company and shipping agency for the handling of bulk carriers (DOCENAVE),
- several bulk cargo shipping terminals for raw materials across Brazil, for example the Porto de Tubarão ,
- Logistics company and inland freight terminals for general cargo and containers, for example Login Logistíca Internacional SA , Rio de Janeiro ,
- and seaport operations (e.g. Terminal de Vila Velha, Vitória , Espírito Santo ).
Vale is therefore one of the leading logistics companies in Brazil.
Further business areas
Since the takeover of the Canadian company Inco on October 24, 2006, nickel has been the company's second mainstay with a share of around 35% of profits. Vale also mines copper , platinum , gold , silver , coal and bauxite .
In addition, until 2010 Vale held a more than 50% share in the largest Brazilian aluminum producer Alunorte , which operates its own loading facility in Vila do Conde near Belém in the state of Pará . In May 2010, Vale sold its aluminum business to Norwegian competitor Norsk Hydro .
Vale has a 27% stake in the ThyssenKrupp CSA steelworks .
In the Mozambican coalfield of Tete , the former state coal mine was taken over in 2004 and converted to open-cast mining in 2011, which has caused massive environmental damage ever since.
Accidents
Samarco Mineração, which is 50% owned by Vale, is responsible for the breach of the Bento Rodrigues dam on November 5, 2015, according to the Brazilian Environment Minister Izabella Teixeira the "worst environmental accident in the history of the country". The judicial clarification of liability for the incident and payments to the Brazilian government, for example, are still pending, but both parent companies have promised to assume the costs (approx. US $ 5 billion) if the subsidiary should become insolvent.
On January 25, 2019, another sedimentation basin broke in the state of Minas Gerais . The resulting mudslide destroyed large parts of the small town of Brumadinho . After the Brumadinho dam broke , nine dead were rescued by January 26, 2019. The local authorities estimate that there will be around 200 to 300 victims because, in addition to around 150 missing workers, there were also many other people living in the flooded area. In 2018, TÜV Süd checked the dam and suggested measures to stabilize it. The public prosecutor's office had recommended that CEO Fabio Schvartsman and other executives should be fired after the dam broke. Schvartsman and other high-ranking employees resigned in early March. On July 9, 2019, a court in Minas Gerais State sentenced Vale to pay for all damage caused by the disaster. An exact amount of damage has not been determined as this cannot yet be quantified. The court upheld the blockade of the company's assets amounting to eleven billion reais (2.5 billion euros) for possible compensation payments.
criticism
Vale has been repeatedly accused of human rights abuses and environmental pollution. In 2012 the group received the negative Public Eye Award because Vale wants to build the Belo Monte Dam . To this end, 40,000 people who lived in the Amazon region were resettled and large, forested areas were flooded. The German organization for development cooperation Misereor accuses Vale of serious environmental damage during iron ore mining in the Amazon region.
Individual evidence
- ↑ http://www.vale.com/EN/aboutvale/news/Pages/vale-on-temporary-removal-of-its-executives.aspx
- ↑ a b Vale Annual Report 2013 ( Memento of the original from August 14, 2014 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. to Form 20-F , accessed on February 26, 2015
- ^ Vale on the Forbes Global 2000 List . In: Forbes . ( forbes.com [accessed July 18, 2018]).
- ↑ Privatization of Companhia Vale do Rio Doce SA (CVRD), at http://www.fuqua.duke.edu , accessed on August 8, 2015
- ↑ Vale: Global Brand Unification ( Memento of the original from April 1, 2008 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. dated November 29, 2007
- ↑ Godmode trader: Compania Vale do Rio Doce: Not only Samba and Carnival ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. dated October 31, 2007.
- ↑ http://www.transportes.gov.br/Modal/Ferroviario/Anuario2001/EFVM.htm
- ↑ http://www.transportes.gov.br/Modal/Ferroviario/Anuario2001/EFC.htm
- ↑ http://www.transportes.gov.br/Modal/Ferroviario/Anuario2001/FNS.htm
- ↑ Acionistas ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. - Alunorte shareholders
- ↑ reuters.com, May 3, 2010.
- ↑ Inauguration ceremony at ThyssenKrupp CSA
- ↑ Samarco speaks of the danger of further dam breaks. In: BrasilNews. November 18, 2015, accessed November 28, 2015 .
- ^ Reuters
- ^ Chega a nove número de mortos pelo rompimento de barragem em Minas. In: com.br. Agência Brasil, November 26, 2019, accessed January 26, 2019 (Brazilian Portuguese).
- ↑ " There are certainly many victims to complain about". In: tagesschau.de . January 26, 2019, accessed January 26, 2019 .
- ↑ Broken dam in Brazil: CEO resigns orf.at, March 3, 2019, accessed March 3, 2019.
- ↑ The court condemns the Brazilian Vale group after a devastating dam break . In: arte.tv, July 10, 2019 (accessed July 10, 2019).
- ↑ http://www.justicanostrilhos.org/nota/888
- ↑ http://www.fidh.org/How-much-are-human-rights-worth-in
- ↑ http://www.fidh.org/IMG/pdf/resume_Bresil_UK-LD2-2.pdf (English summary)
- ↑ Archived copy ( Memento of the original from January 31, 2012 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (General report, Brazilian Portuguese)
- ↑ http://www.crocodyl.org/wiki/cvrd_vale
- ↑ http://www.minesandcommunities.org/article.php?a=10075
- ↑ Public Eye 2012: Disgraceful awards go to Barclays and Vale. In: publiceye.ch. Public Eye , January 27, 2012, accessed February 4, 2019 .
- ↑ http://www.business-humanrights.org/Links/Repository/1010601/jump
- ↑ greenpeace.de ( Memento of the original dated November 27, 2013 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Study “From ore to the car”, p. 13 ( Memento of the original dated February 4, 2015 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
