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Related parties | 6 Months Ended
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Jun. 30, 2021
Related parties |
Related parties |
26. | Related parties
The Company’s related parties are subsidiaries, joint ventures, associates, stockholders and its related entities and key management personnel of the Company. Transactions between the parent company and its subsidiaries are eliminated on consolidation and are not disclosed in this note. ​ In June 2021, the Company concluded the transaction for the acquisition of the interests held by Mitsui (related party) in Vale Moçambique and Nacala Logistics Corridor (note 12). a) Transactions with related parties ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three-month period ended June 30,
​ | ​ | 2021 | ​ | 2020
​ | ​ | Joint | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Joint | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Ventures |  | Associates |  | Stockholders |  | Total |  | Ventures |  | Associates |  | Stockholders |  | Total
Net operating revenue | ​ | 180 | ​ | 67 | ​ | 61 | ​ | 308 | ​ | 68 | ​ | 57 | ​ | 55 | ​ | 180
Cost and operating expenses | ​ | (152) | ​ | (4) | ​ | — | ​ | (156) | ​ | (261) | ​ | (5) | ​ | — | ​ | (266)
Financial result | ​ | (21) | ​ | (1) | ​ | 141 | ​ | 119 | ​ | 8 | ​ | 2 | ​ | (13) | ​ | (3)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six-month period ended June 30,
​ | ​ | 2021 | ​ | 2020
​ | ​ | Joint | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Joint | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Ventures |  | Associates |  | Stockholders |  | Total |  | Ventures |  | Associates |  | Stockholders |  | Total
Net operating revenue | ​ | 341 | ​ | 127 | ​ | 114 | ​ | 582 | ​ | 137 | ​ | 118 | ​ | 87 | ​ | 342
Cost and operating expenses | ​ | (329) | ​ | (9) | ​ | — | ​ | (338) | ​ | (528) | ​ | (11) | ​ | — | ​ | (539)
Financial result | ​ | (8) | ​ | (1) | ​ | (380) | ​ | (389) | ​ | 29 | ​ | 4 | ​ | (36) | ​ | (3)
​ Purchases, accounts receivable and other assets, and accounts payable and other liabilities relate largely to amounts charged by joint ventures and associates related to the pelletizing plants operational lease and railway transportation services. ​ Net operating revenue relates to sale of iron ore to the steelmakers and right to use capacity on railroads. Cost and operating expenses mostly relates to the variable lease payments of the pelletizing plants and the logistics costs for using the Nacala Logistics Corridor, which has been consolidated since June 2021 as described in note 12. ​ b) Outstanding balances with related parties ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2021 | ​ | December 31, 2020
​ | ​ | Joint | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Joint | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Ventures |  | Associates |  | Stockholders |  | Total |  | Ventures |  | Associates |  | Stockholders |  | Total
Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents (i) | ​ | — | ​ | — | ​ | 1,352 | ​ | 1,352 | ​ | — | ​ | — | ​ | 2,082 | ​ | 2,082
Accounts receivable | ​ | 175 | ​ | 28 | ​ | 2 | ​ | 205 | ​ | 109 | ​ | 45 | ​ | 2 | ​ | 156
Dividends receivable | ​ | 26 | ​ | — | ​ | — | ​ | 26 | ​ | 19 | ​ | — | ​ | — | ​ | 19
Loans (ii) | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 1,118 | ​ | — | ​ | — | ​ | 1,118
Derivatives financial instruments (i) | ​ | — | ​ | — | ​ | 112 | ​ | 112 | ​ | — | ​ | — | ​ | 2 | ​ | 2
Other assets | ​ | 38 | ​ | 3 | ​ | — | ​ | 41 | ​ | 68 | ​ | 2 | ​ | — | ​ | 70
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities | ​ | — | ​ | — | ​ | — | ​ | — | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Supplier and contractors | ​ | 157 | ​ | 4 | ​ | 23 | ​ | 184 | ​ | 121 | ​ | 10 | ​ | 35 | ​ | 166
Loans (ii) | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 1,385 | ​ | 944 | ​ | 2,329
Derivatives financial instruments (i) | ​ | — | ​ | — | ​ | 283 | ​ | 283 | ​ | — | ​ | — | ​ | 242 | ​ | 242
Other liabilities | ​ | 188 | ​ | 120 | ​ | — | ​ | 308 | ​ | 235 | ​ | 48 | ​ | — | ​ | 283
(i) Refers to regular financial instruments with large financial institutions that are deemed related parties (ii) Refers to loans settled upon completion of the acquisition of NLC (note 12).

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