XML 67 R40.htm IDEA: XBRL DOCUMENT
v3.21.1

Information by business segment and by geographic area (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Information by business segment and by geographic area |
Schedule of adjusted EBITDA |
|  | Year ended December 31, 2020
|  |  |  |  |  | Sales, |  |  |  |  |  | Dividends |  |
|  |  |  | Cost of goods |  | administrative |  |  |  |  |  | received and |  |
|  |  |  | sold and |  | and other |  |  |  | Pre operating |  | interest from |  |
|  | Net operating |  | services |  | operating |  | Research and |  | and operational |  | associates and |  | Adjusted
|  | revenue |  | rendered |  | expenses |  | evaluation |  | stoppage |  | joint ventures |  | EBITDA
Ferrous minerals |  |  |  |  |  |  |  |  |  |  |  |  |  |
Iron ore |  | 27,285 |  | (8,171) |  | (187) |  | (127) |  | (534) |  | 23 |  | 18,289
Iron ore pellets |  | 4,242 |  | (1,661) |  | 11 |  | (5) |  | (77) |  | 116 |  | 2,626
Ferroalloys and manganese |  | 225 |  | (179) |  | — |  | (2) |  | (29) |  | — |  | 15
Other ferrous products and services |  | 326 |  | (254) |  | 3 |  | (2) |  | — |  | 2 |  | 75
|  | 32,078 |  | (10,265) |  | (173) |  | (136) |  | (640) |  | 141 |  | 21,005
Base metals |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nickel and other products |  | 4,995 |  | (3,216) |  | (25) |  | (49) |  | (29) |  | — |  | 1,676
Copper |  | 2,175 |  | (794) |  | (7) |  | (68) |  | (1) |  | — |  | 1,305
|  | 7,170 |  | (4,010) |  | (32) |  | (117) |  | (30) |  | — |  | 2,981
Coal |  | 473 |  | (1,456) |  | (15) |  | (28) |  | — |  | 95 |  | (931)
Brumadinho event |  | — |  | — |  | (5,257) |  | — |  | — |  | — |  | (5,257)
COVID-19 |  | — |  | — |  | (109) |  | — |  | — |  | — |  | (109)
Others |  | 297 |  | (328) |  | (928) |  | (162) |  | (12) |  | 32 |  | (1,101)
Total |  | 40,018 |  | (16,059) |  | (6,514) |  | (443) |  | (682) |  | 268 |  | 16,588
|  | Year ended December 31, 2019
|  |  |  |  |  | Sales, |  |  |  |  |  | Dividends |  |
|  |  |  | Cost of goods |  | administrative |  |  |  |  |  | received and |  |
|  |  |  | sold and |  | and other |  |  |  | Pre operating |  | interest from |  |
|  | Net operating |  | services |  | operating |  | Research and |  | and operational |  | associates and |  | Adjusted
|  | revenue |  | rendered |  | expenses |  | evaluation |  | stoppage |  | joint ventures |  | EBITDA
Ferrous minerals |  |  |  |  |  |  |  |  |  |  |  |  |  |
Iron ore |  | 23,343 |  | (8,778) |  | (323) |  | (123) |  | (750) |  | 29 |  | 13,398
Iron ore pellets |  | 5,948 |  | (2,666) |  | (20) |  | (16) |  | (72) |  | 258 |  | 3,432
Ferroalloys and manganese |  | 282 |  | (220) |  | (8) |  | (2) |  | (1) |  | — |  | 51
Other ferrous products and services |  | 432 |  | (324) |  | — |  | (1) |  | — |  | 9 |  | 116
|  | 30,005 |  | (11,988) |  | (351) |  | (142) |  | (823) |  | 296 |  | 16,997
Base metals |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nickel and other products |  | 4,257 |  | (2,867) |  | (75) |  | (44) |  | (28) |  | — |  | 1,243
Copper |  | 1,904 |  | (905) |  | (5) |  | (43) |  | (20) |  | — |  | 931
|  | 6,161 |  | (3,772) |  | (80) |  | (87) |  | (48) |  | — |  | 2,174
Coal |  | 1,021 |  | (1,638) |  | 1 |  | (30) |  | — |  | 113 |  | (533)
Brumadinho event |  | — |  | — |  | (7,402) |  | — |  | — |  | — |  | (7,402)
Others |  | 383 |  | (390) |  | (506) |  | (184) |  | (11) |  | 57 |  | (651)
Total |  | 37,570 |  | (17,788) |  | (8,338) |  | (443) |  | (882) |  | 466 |  | 10,585
|  | Year ended December 31, 2018
|  |  |  |  |  | Sales, |  |  |  |  |  | Dividends |  |
|  |  |  | Cost of goods |  | administrative |  |  |  |  |  | received and |  |
|  |  |  | sold and |  | and other |  |  |  | Pre operating |  | interest from |  |
|  | Net operating |  | services |  | operating |  | Research and |  | and operational |  | associates and |  | Adjusted
|  | revenue |  | rendered |  | expenses |  | evaluation |  | stoppage |  | joint ventures |  | EBITDA
Ferrous minerals |  |  |  |  |  |  |  |  |  |  |  |  |  |
Iron ore |  | 20,354 |  | (9,048) |  | (76) |  | (110) |  | (115) |  | 28 |  | 11,033
Iron ore pellets |  | 6,651 |  | (3,393) |  | (11) |  | (26) |  | (19) |  | 154 |  | 3,356
Ferroalloys and manganese |  | 454 |  | (290) |  | (3) |  | (1) |  | — |  | — |  | 160
Other ferrous products and services |  | 474 |  | (313) |  | (4) |  | (1) |  | (1) |  | 7 |  | 162
|  | 27,933 |  | (13,044) |  | (94) |  | (138) |  | (135) |  | 189 |  | 14,711
Base metals |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nickel and other products |  | 4,610 |  | (3,060) |  | (47) |  | (39) |  | (33) |  | — |  | 1,431
Copper |  | 2,093 |  | (960) |  | (4) |  | (18) |  | — |  | — |  | 1,111
|  | 6,703 |  | (4,020) |  | (51) |  | (57) |  | (33) |  | — |  | 2,542
Coal |  | 1,643 |  | (1,575) |  | (9) |  | (21) |  | — |  | 143 |  | 181
Others |  | 296 |  | (263) |  | (752) |  | (157) |  | (21) |  | 56 |  | (841)
Total |  | 36,575 |  | (18,902) |  | (906) |  | (373) |  | (189) |  | 388 |  | 16,593
Discontinued operations (Fertilizers) |  | 121 |  | (120) |  | (4) |  | — |  | — |  | — |  | (3)
Total |  | 36,696 |  | (19,022) |  | (910) |  | (373) |  | (189) |  | 388 |  | 16,590
|  | Year ended December 31,
|  | 2020 |  | 2019 |  | 2018
Net income (loss) attributable to Vale's stockholders |  | 4,881 |  | (1,683) |  | 6,952
Net income (loss) attributable to noncontrolling interests |  | (350) |  | (497) |  | 36
Net income (loss) |  | 4,531 |  | (2,180) |  | 6,988
Depreciation, depletion and amortization |  | 3,234 |  | 3,726 |  | 3,351
Income taxes |  | 438 |  | (595) |  | (172)
Financial results |  | 4,811 |  | 3,413 |  | 4,957
Equity results and other results in associates and joint ventures |  | 1,063 |  | 681 |  | 182
Dividends received and interest from associates and joint ventures (i) |  | 268 |  | 466 |  | 388
Impairment and disposal of non-current assets |  | 2,243 |  | 5,074 |  | 899
Adjusted EBITDA |  | 16,588 |  | 10,585 |  | 16,593
|  | Year ended
|  | December 31,
|  | 2018
Loss |  | (92)
Income taxes |  | (40)
Financial results |  | 5
Impairment of non-current assets |  | 124
Adjusted EBITDA |  | (3)
Asset by segment |
|  | December 31, 2020 |  | December 31, 2019
|  |  |  | Investments in |  | Property, plant |  |  |  | Investments in |  | Property, plant
|  | Product |  | associates and |  | and equipment |  | Product |  | associates and |  | and equipment
|  | inventory |  | joint ventures |  | and intangibles (i) |  | inventory |  | joint ventures |  | and intangibles (i)
Ferrous minerals |  | 2,017 |  | 1,154 |  | 29,436 |  | 1,955 |  | 1,729 |  | 33,528
Base metals |  | 1,231 |  | 18 |  | 19,549 |  | 1,354 |  | 14 |  | 19,893
Coal |  | 25 |  | — |  | — |  | 60 |  | — |  | —
Others |  | — |  | 859 |  | 1,459 |  | 2 |  | 1,055 |  | 1,654
Total |  | 3,273 |  | 2,031 |  | 50,444 |  | 3,371 |  | 2,798 |  | 55,075
|  | Year ended December 31,
|  | 2020 |  | 2019 |  | 2018
|  | Capital expenditures (ii) |  |  |  | Capital expenditures (ii) |  |  |  | Capital expenditures (ii) |  |
|  |  |  |  |  | Depreciation, |  |  |  |  |  | Depreciation, |  |  |  |  |  | Depreciation,
|  | Sustaining |  | Project |  | depletion and |  | Sustaining |  | Project |  | depletion and |  | Sustaining |  | Project |  | depletion and
|  | capital |  | execution |  | amortization |  | capital |  | execution |  | amortization |  | capital |  | execution |  | amortization
Ferrous minerals |  | 2,134 |  | 258 |  | 1,768 |  | 1,685 |  | 385 |  | 2,063 |  | 1,569 |  | 823 |  | 1,672
Base metals |  | 1,566 |  | 239 |  | 1,397 |  | 1,225 |  | 151 |  | 1,351 |  | 1,189 |  | 34 |  | 1,351
Coal |  | 203 |  | — |  | 19 |  | 240 |  | — |  | 237 |  | 132 |  | 24 |  | 252
Others |  | 5 |  | 25 |  | 50 |  | 10 |  | 8 |  | 75 |  | 6 |  | 7 |  | 76
Total |  | 3,908 |  | 522 |  | 3,234 |  | 3,160 |  | 544 |  | 3,726 |  | 2,896 |  | 888 |  | 3,351
(i) Goodwill is allocated to ferrous minerals and base metals segments in the amount of US$1,373 and US1,926 in December 31, 2020 and US$1,770 and US$1,859 in December 31, 2019, respectively. (ii) Cash outflows.
Assets and net operating revenue by geographic area |
|  | December 31, 2020 |  | December 31, 2019
|  | Investments in |  |  |  | Property, |  |  |  | Investments in |  |  |  | Property, |  |
|  | associates and |  |  |  | plant and |  |  |  | associates and |  |  |  | plant and |  |
|  | joint ventures |  | Intangible |  | equipment |  | Total |  | joint ventures |  | Intangible |  | equipment |  | Total
Brazil |  | 1,760 |  | 7,341 |  | 23,364 |  | 32,465 |  | 2,498 |  | 6,496 |  | 29,134 |  | 38,128
Canada |  | — |  | 1,951 |  | 11,798 |  | 13,749 |  | — |  | 2,000 |  | 10,733 |  | 12,733
Americas, except Brazil and Canada |  | 234 |  | — |  | 5 |  | 239 |  | 242 |  | — |  | — |  | 242
Europe |  | — |  | — |  | 894 |  | 894 |  | — |  | 2 |  | 900 |  | 902
Indonesia |  | — |  | 2 |  | 2,729 |  | 2,731 |  | — |  | 1 |  | 2,761 |  | 2,762
Asia, except Indonesia and China |  | 20 |  | — |  | 951 |  | 971 |  | 39 |  | — |  | 985 |  | 1,024
China |  | 17 |  | 2 |  | 19 |  | 38 |  | 19 |  | — |  | 10 |  | 29
New Caledonia |  | — |  | — |  | — |  | — |  | — |  | — |  | 604 |  | 604
Oman |  | — |  | — |  | 1,388 |  | 1,388 |  | — |  | — |  | 1,449 |  | 1,449
Total |  | 2,031 |  | 9,296 |  | 41,148 |  | 52,475 |  | 2,798 |  | 8,499 |  | 46,576 |  | 57,873
|  | Year ended December 31, 2020
|  | Ferrous |  |  |  |  |  |  |  |
|  | minerals |  | Base metals |  | Coal |  | Others |  | Total
Americas, except United States and Brazil |  | 334 |  | 286 |  | — |  | — |  | 620
United States of America |  | 244 |  | 797 |  | — |  | — |  | 1,041
Germany |  | 357 |  | 1,309 |  | — |  | — |  | 1,666
Europe, except Germany |  | 1,214 |  | 2,356 |  | 101 |  | — |  | 3,671
Middle East, Africa and Oceania |  | 1,418 |  | 17 |  | 68 |  | — |  | 1,503
Japan |  | 1,793 |  | 400 |  | 20 |  | — |  | 2,213
China |  | 22,202 |  | 922 |  | 16 |  | — |  | 23,140
Asia, except Japan and China |  | 2,068 |  | 931 |  | 257 |  | — |  | 3,256
Brazil |  | 2,448 |  | 152 |  | 11 |  | 297 |  | 2,908
Net operating revenue |  | 32,078 |  | 7,170 |  | 473 |  | 297 |  | 40,018
|  | Year ended December 31, 2019
|  | Ferrous |  |  |  |  |  |  |  |
|  | minerals |  | Base metals |  | Coal |  | Others |  | Total
Americas, except United States and Brazil |  | 523 |  | 835 |  | — |  | — |  | 1,358
United States of America |  | 404 |  | 931 |  | — |  | — |  | 1,335
Germany |  | 1,161 |  | 522 |  | — |  | — |  | 1,683
Europe, except Germany |  | 1,514 |  | 1,715 |  | 282 |  | — |  | 3,511
Middle East, Africa and Oceania |  | 2,083 |  | 20 |  | 75 |  | — |  | 2,178
Japan |  | 2,057 |  | 426 |  | 120 |  | — |  | 2,603
China |  | 17,572 |  | 670 |  | — |  | — |  | 18,242
Asia, except Japan and China |  | 2,032 |  | 816 |  | 464 |  | — |  | 3,312
Brazil |  | 2,659 |  | 226 |  | 80 |  | 383 |  | 3,348
Net operating revenue |  | 30,005 |  | 6,161 |  | 1,021 |  | 383 |  | 37,570
|  | Year ended December 31, 2018
|  | Ferrous |  |  |  |  |  |  |  |
|  | minerals |  | Base metals |  | Coal |  | Others |  | Total
Americas, except United States and Brazil |  | 820 |  | 658 |  | — |  | — |  | 1,478
United States of America |  | 388 |  | 952 |  | — |  | 13 |  | 1,353
Germany |  | 1,130 |  | 523 |  | — |  | — |  | 1,653
Europe, except Germany |  | 2,218 |  | 1,800 |  | 436 |  | — |  | 4,454
Middle East, Africa and Oceania |  | 2,562 |  | 25 |  | 151 |  | — |  | 2,738
Japan |  | 2,072 |  | 508 |  | 163 |  | — |  | 2,743
China |  | 14,381 |  | 861 |  | — |  | — |  | 15,242
Asia, except Japan and China |  | 1,798 |  | 1,101 |  | 767 |  | — |  | 3,666
Brazil |  | 2,564 |  | 275 |  | 126 |  | 283 |  | 3,248
Net operating revenue |  | 27,933 |  | 6,703 |  | 1,643 |  | 296 |  | 36,575
Summary of sensitivity of the Company's risk on final settlement of its provisionally priced accounts receivables |
|  | December 31, 2020
|  | Thousand |  | Provisional price |  |  |  | Effect
|  | metric tons |  | (US$/tonne) |  | Change |  | on Revenue
Iron ore |  | 27,169 |  | 150.6 |  | +/-10 | % | +/- 409
Iron ore pellets |  | 418 |  | 181.9 |  | +/-10 | % | +/- 8
Copper |  | 89 |  | 9,723.4 |  | +/-10 | % | +/- 86

X
- Definition The disclosure of geographical information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2020-01-01 -Paragraph 33 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&anchor=para_33&doctype=Standard -URIDate 2020-01-01 + Details
Name: | ifrs-full_DisclosureOfGeographicalAreasExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | ifrs-full_DisclosureOfOperatingSegmentsAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of operating segments. [Refer: Operating segments [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2020-01-01 -Paragraph 23 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&anchor=para_23&doctype=Standard -URIDate 2020-01-01 + Details
Name: | ifrs-full_DisclosureOfOperatingSegmentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of the sensitivity analysis of fair value measurement of assets to changes in unobservable inputs. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 13 -IssueDate 2020-01-01 -Paragraph 93 -Subparagraph h -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=13&code=ifrs-tx-2020-en-r&anchor=para_93_h&doctype=Standard -URIDate 2020-01-01 + Details
Name: | ifrs-full_DisclosureOfSensitivityAnalysisOfFairValueMeasurementToChangesInUnobservableInputsAssetsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The tabular schedule of assets by segment. + References No definition available. + Details
Name: | vale_ScheduleOfAssetsBySegmentTableTextBlock
Namespace Prefix: | vale_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration