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Other financial assets and liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Other financial assets and liabilities

Schedule of other financial assets and liabilities

​

​	​	​	​	​	​	​	​	​
​	​	Current			​	Non-Current
​		December 31, 2021		December 31, 2020		December 31, 2021		December 31, 2020
Other financial assets	​	​	​	​	​	​	​	​
Restricted cash	​	—	​	—	​	117	​	38
Derivative financial instruments (note 20)	​	111	​	134	​	20	​	66
Investments in equity securities (i)	​	—	​	—	​	6	​	757
Loans - Related parties (note 31) (ii)	​	—	​	195	​	-	​	923
​	​	111	​	329	​	143	​	1,784
Other financial liabilities	​	​	​	​	​	​	​	​
Derivative financial instruments (note 20)	​	243	​	328	​	592	​	689
Loans - Related parties (note 31) (ii)	​	—	​	490	​	—	​	895
Other financial liabilities - Related parties (note 31)	​	393	​	235	​	—	​	—
Financial guarantees provided (notes 15c and 23e)	​	—	​	—	​	542	​	877
Liabilities related to the concession grant (notes 14b and 17a)	​	760	​	209	​	1,437	​	2,103
Contract liability	​	566	​	644	​	—	​	—
​	​	1,962	​	1,906	​	2,571	​	4,564

(i) The Company has an investment of US$6, corresponding to a 3.24% non-controlling interest in Boston Electrometallurgical Company, whose objective is to promote the development of a technology focused on reducing carbon dioxide emissions in steel production.

(ii) The decrease in non-current liabilities refers to the settlement of loans due to the transaction for acquiring Nacala Logistic Corridor (note 16).

Summary of liabilities related to the concession grant

​

​	​	​	​	​	​	​	​	​	​
​		Liability				Discount rate
​	​	December 31, 2021		December 31, 2020		2021		2020
Concessions grants		586		542		11.04	%	11.04	%
Midwest Integration Railway ("FICO")		1,206		1,306		5.11	%	2.59	%
Infrastructure program		342		264		5.22	%	3.08	%
West-East Integration Railway ("FIOL")		62		200		5.75	%	2.67	%
Total		2,196		2,312					​

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