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Provisions (Tables)
12 Months Ended
Dec. 31, 2020
Provisions  
Schedule of provisions

 

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

Non-current liabilities

 

    

December 31, 2020

    

December 31, 2019

    

December 31, 2020

    

December 31, 2019

Payroll, related charges and other remunerations

 

877

 

790

 

 —

 

 —

Onerous contracts (note 18)

 

58

 

57

 

838

 

866

Environmental obligations

 

102

 

146

 

200

 

243

Provision related to VNC sale

 

500

 

 —

 

 —

 

 —

Asset retirement obligations

 

99

 

158

 

4,121

 

3,802

Provisions for litigation (note 26)

 

87

 

 —

 

1,004

 

1,462

Employee postretirement obligations (note 27)

 

103

 

79

 

2,271

 

2,120

Provisions

 

1,826

 

1,230

 

8,434

 

8,493

 

Schedule of changes in the provision of asset retirement obligations and long-term interest rates

 

 

 

 

 

 

 

 

    

December 31, 2020

    

December 31, 2019

 

Balance at beginning of the year

 

3,960

 

3,115

 

Present value valuation

 

27

 

37

 

Settlements

 

(45)

 

(47)

 

Revisions on cash flows estimates (i)

 

509

 

812

 

Translation adjustment

 

(231)

 

43

 

Balance at end of the year

 

4,220

 

3,960

 

 

 

 

 

 

 

Current

 

99

 

158

 

Non-current

 

4,121

 

3,802

 

 

 

4,220

 

3,960

 

Long-term interest rates (per annum)

 

 

 

 

 

Brazil

 

3.54

%

3.36

%

Canada

 

0.00

%

0.40

%

Mozambique

 

5.67

%

5.20

%

Other regions

 

0.0% - 4.73

%

0.60% - 4.78

%


(i)

In 2019, includes changes in discount rates and updating plans for mine closure, that also considers new legal requirements related to the decommissioning.