XML 61 R49.htm IDEA: XBRL DOCUMENT
v3.21.2

Loans, borrowings, leases, cash and cash equivalents and short-term investments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2021
Loans, borrowings, leases, cash and cash equivalents and short-term investments |
Schedule of net debt | ​
​ | ​ | ​ | ​ | ​
​ |  | June 30, 2021 |  | December 31, 2020
Debt contracts in the international markets |  | 11,194 |  | 11,890
Debt contracts in Brazil |  | 960 |  | 1,470
Leases | ​ | 1,708 | ​ | 1,667
Total of loans, borrowings and leases |  | 13,862 |  | 15,027
(-) Cash and cash equivalents |  | 13,649 |  | 13,487
(-) Short-term investments | ​ | 951 | ​ | 771
Net debt (cash) |  | (738) |  | 769
Schedule of total debt | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Average | ​ | Current liabilities | ​ | Non-current liabilities
​ |  | interest rate (i) | ​ | June 30, 2021 |  | December 31, 2020 |  | June 30, 2021 |  | December 31, 2020
Quoted in the secondary market: |  | ​ | ​ |  |  |  |  |  |  |
Bonds |  | 6.01 | % | — | ​ | — | ​ | 7,448 | ​ | 7,448
Eurobonds |  | ​ | ​ | — | ​ | — | ​ | — | ​ | 920
Debentures |  | 10.48 | % | 50 | ​ | 107 | ​ | 378 | ​ | 389
Debt contracts in Brazil in: |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
R$, indexed to TJLP, TR, IPCA, IGP-M and CDI (ii) |  | 9.29 | % | 128 | ​ | 320 | ​ | 332 | ​ | 540
R$, with fixed interest |  | 2.76 | % | 19 | ​ | 20 | ​ | 6 | ​ | 14
Basket of currencies and bonds in US$ indexed to LIBOR | ​ | 2.32 | % | 33 | ​ | 45 | ​ | — | ​ | 11
Debt contracts in the international market in: |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
US$, with variable and fixed interest |  | 2.26 | % | 325 | ​ | 182 | ​ | 3,073 | ​ | 3,044
Other currencies, with variable interest |  | 4.09 | % | 86 | ​ | — | ​ | 10 | ​ | —
Other currencies, with fixed interest | ​ | 3.35 | % | 12 | ​ | 12 | ​ | 98 | ​ | 107
Accrued charges |  | ​ | ​ | 156 | ​ | 201 | ​ | — | ​ | —
Total |  | ​ | ​ | 809 | ​ | 887 | ​ | 11,345 | ​ | 12,473
(i) In order to determine the average interest rate for debt contracts with floating rates, the Company used the rate applicable as at June 30, 2021. (ii) R$ denominated debt that bears interest at IPCA, CDI, TR or TJLP, plus spread. For a total of US$892 the Company entered into derivative transactions to mitigate the exposure to the cash flow variations of the floating rate debt denominated in R$, resulting in an average cost of 2.92% per year in US$.
Schedule of future flows of debt payments, principal and interest | ​
​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Estimated future
​ | ​ | Principal | ​ | interest payments (i)
2021 |  | 173 | ​ | 300
2022 |  | 1,254 | ​ | 593
2023 |  | 298 | ​ | 555
2024 |  | 2,014 | ​ | 537
Between 2025 and 2029 |  | 2,142 | ​ | 1,008
2030 onwards |  | 6,117 | ​ | 3,641
Total |  | 11,998 | ​ | 6,634
(i) Based on interest rate curves and foreign exchange rates applicable as at June 30, 2021 and considering that the payments of principal will be made on their contracted payments dates. The amount includes the estimated interest not yet accrued and the interest already recognized in the interim financial statements.
Schedule of reconciliation of debt to cash flows arising from financing activities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Quoted in the |  | ​ |  | Debt contracts on the |  | ​
​ | ​ | secondary market | ​ | Debt contracts in Brazil | ​ | international market | ​ | Total
December 31, 2020 |  | 9,046 | ​ | 959 | ​ | 3,355 | ​ | 13,360
Additions |  | — | ​ | — | ​ | 300 | ​ | 300
Payments (i) |  | (922) | ​ | (269) | ​ | (221) | ​ | (1,412)
Interest paid |  | (279) | ​ | (79) | ​ | (68) | ​ | (426)
Cash flow from financing activities |  | (1,201) | ​ | (348) | ​ | 11 | ​ | (1,538)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Effect of exchange rate |  | (50) | ​ | (153) | ​ | 196 | ​ | (7)
Interest accretion |  | 222 | ​ | 63 | ​ | 54 | ​ | 339
Non-cash changes |  | 172 | ​ | (90) | ​ | 250 | ​ | 332
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
June 30, 2021 |  | 8,017 | ​ | 521 | ​ | 3,616 | ​ | 12,154
(i) Includes expenses with the redemption in the amount of US$63.
Schedule of lease liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Additions and contract | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2020 |  | modifications |  | Payments (i) |  | Interest (ii) |  | Translation adjustment |  | June 30, 2021
Ports |  | 743 |  | — |  | (40) |  | 14 |  | 1 |  | 718
Vessels |  | 533 |  | — |  | (31) |  | 11 |  | — |  | 513
Pellets plants |  | 137 |  | 37 |  | (2) |  | 3 |  | 8 |  | 183
Properties |  | 142 |  | 3 |  | (24) |  | 2 |  | 1 |  | 124
Energy plants |  | 62 |  | — |  | (2) |  | 3 |  | — |  | 63
Mining equipment and locomotives (iii) |  | 50 |  | 58 |  | (5) |  | 2 |  | 2 |  | 107
Total |  | 1,667 |  | 98 |  | (104) |  | 35 |  | 12 |  | 1,708
(i) The total amount of the variable lease payments not included in the measurement of lease liabilities, which have been recognized straight to the income statement, for the three and six-month periods ended June 30, 2021 was US$78 and US$111 (US$10 and US$38 for the three and six-month periods ended June 30, 2020), respectively. (ii) The interest accretion recognized in the income statement is disclosed in note 6. (iii) "Additions and contract modifications" includes the effects arising from the acquisition of NLC in the amount of US$53.
Summary of annual minimum payments related | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025 onwards |  | Total
Ports |  | 35 |  | 63 |  | 62 |  | 61 |  | 802 |  | 1,023
Vessels |  | 33 |  | 63 |  | 62 |  | 60 |  | 405 |  | 623
Pellets plants |  | 44 |  | 40 |  | 13 |  | 13 |  | 116 |  | 226
Properties |  | 24 |  | 29 |  | 23 |  | 22 |  | 41 |  | 139
Energy plants |  | 3 |  | 7 |  | 7 |  | 6 |  | 61 |  | 84
Mining equipment and locomotives |  | 11 |  | 21 |  | 16 |  | 15 |  | 79 |  | 142
Total |  | 150 |  | 223 |  | 183 |  | 177 |  | 1,504 |  | 2,237

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

X
- Definition The disclosure of detailed information about borrowings. [Refer: Borrowings] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IFRS -Number 7 -IssueDate 2020-01-01 -Paragraph 7 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2020-en-r&anchor=para_7&doctype=Standard -URIDate 2020-01-01 + Details
Name: | ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of a maturity analysis of operating lease payments. Operating lease is a lease that does not transfer substantially all the risks and rewards incidental to ownership of an underlying asset. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2020-01-01 -Paragraph 97 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2020-en-r&anchor=para_97&doctype=Standard -URIDate 2020-01-01 + Details
Name: | ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of a maturity analysis for non-derivative financial liabilities (including issued financial guarantee contracts) that shows the remaining contractual maturities. [Refer: Derivative financial liabilities] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2020-01-01 -Paragraph 39 -Subparagraph a -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2020-en-r&anchor=para_39_a&doctype=Standard -URIDate 2020-01-01 + Details
Name: | ifrs-full_MaturityAnalysisForNonderivativeFinancialLiabilities
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The tabular disclosure of net debt, that is, gross debt less available cash. + References No definition available. + Details
Name: | vale_DisclosureOfNetDebtTableTextBlock
Namespace Prefix: | vale_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The tabular disclosure of reconciliation of debt to cash flows arising from financing activities. + References No definition available. + Details
Name: | vale_IncreaseDecreaseThroughFinancingCashFlowsLiabilitiesArisingFromFinancingActivitiesTableTextBlock
Namespace Prefix: | vale_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the tabular information of the lease liabilities. + References No definition available. + Details
Name: | vale_ScheduleOfLeaseLiabilitiesTableTextBlock
Namespace Prefix: | vale_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration