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Investments in subsidiaries, associates, and joint ventures (Tables)

12 Months Ended

Dec. 31, 2022

Investments In Subsidiaries Associates And Joint Ventures

Schedule of investments in associates and joint ventures, equity results and dividends received


						Investments in associates and joint ventures				Equity results in the income statement						Dividends received
						December 31,				Year ended December 31,						Year ended December 31,
Associates and joint ventures		% ownership		% voting capital		2022		2021		2022		2021		2020		2022		2021		2020
Iron Solutions
Baovale Mineração S.A.		50.00		50.00		24		21		3		4		1		-		1		-
Companhia Coreano-Brasileira de Pelotização		50.00		50.00		80		51		37		46		8		17		33		34
Companhia Hispano-Brasileira de Pelotização		50.89		50.00		48		38		18		1		11		6		7		27
Companhia Ítalo-Brasileira de Pelotização		50.90		50.00		62		48		31		40		10		24		23		23
Companhia Nipo-Brasileira de Pelotização		51.00		50.00		145		129		52		40		8		59		8		32
MRS Logística S.A.		48.16		47.09		509		418		81		75		34		14		9		22
Samarco Mineração S.A. (note 25)		50.00		50.00		-		-		-		-		-		-		-		-
VLI S.A.		29.60		29.60		428		408		(9)		(40)		(22)		-		-		2
						1,296		1,113		213		166		50		120		81		140
Energy Transition Materials
Korea Nickel Corp.		25.00		25.00		-		17		3		1		-		-		-		-
						-		17		3		1		-		-		-		-
Other
Aliança Geração de Energia S.A.		55.00		55.00		340		367		31		53		28		34		25		24
Aliança Norte Energia Participações S.A.		51.00		51.00		106		105		(7)		(4)		(8)		-		-		-
California Steel Industries, Inc.		50.00		50.00		-		-		-		228		(7)		65		84		-
Companhia Siderúrgica do Pecém		50.00		50.00		-		99		-		56		(131)		-		-		-
Mineração Rio do Norte S.A.		40.00		40.00		-		-		-		(5)		(3)		-		-		9
Other						56		50		6		(1)		(5)		-		-		-
						502		621		30		327		(126)		99		109		33
Equity results in associates and joint ventures						1,798		1,751		246		494		(76)		219		190		173
Other results in associates and joint ventures						-		-		59		(1,765)		(944)		-		-		-
Equity results and other results in associates and joint ventures						1,798		1,751		305		(1,271)		(1,020)		219		190		173

Schedule of changes in investments in associates and joint ventures


	Notes	2022		2021
Balance at January 1,		1,751		2,031
Capital contribution to CSP		-		42
Equity results in income statement		246		494
Dividends declared		(186)		(228)
Translation adjustment		116		(128)
Impairment of CSP	16(d)	(111)		-
Transfer the equity results to discontinued operations	16(a)	-		(26)
Transfer of CSI to assets held for sale	16(c)	-		(377)
Other		(18)		(57)
Balance at December 31,		1,798		1,751

Summarized financial information about relevant associates and joint ventures


		December 31, 2022
		Aliança Geração de Energia		Aliança Norte Energia Participações		CSP		Pelletizing plants (i)		MRS Logística		VLI S.A.
Current assets		140		-		827		497		387		760
Non-current assets		921		209		2,709		328		2,398		3,649
Total assets		1,061		209		3,536		825		2,785		4,409

Current liabilities		161		-		491		164		509		810
Non-current liabilities		282		1		2,450		1		1,219		2,153
Total liabilities		443		1		2,941		165		1,728		2,963
Equity		618		208		595		660		1,057		1,446

Net revenue		215		-		2,399		420		1,083		1,376
Net income (loss)		57		(13)		387		272		169		(29)

		December 31, 2021
		Aliança Geração de Energia		Aliança Norte Energia Participações		CSP		Pelletizing plants (i)		MRS Logística		VLI S.A.
Current assets		112		-		566		425		497		494
Non-current assets		824		206		2,615		267		1,910		3,550
Total assets		936		206		3,181		692		2,407		4,044

Current liabilities		46		-		438		166		447		580
Non-current liabilities		223		-		2,545		1		1,092		2,085
Total liabilities		269		-		2,983		167		1,539		2,665
Equity		667		206		198		525		868		1,379

Net revenue		185		-		2,242		396		820		1,109
Net income (loss)		96		(7)		891		250		155		(136)

(i)	Aggregated entities: Companhia Coreano-Brasileira de Pelotização, Companhia Hispano-Brasileira de Pelotização, Companhia Ítalo-Brasileira de Pelotização, and Companhia Nipo-Brasileira de Pelotização.

Schedule of material consolidated entities in each business segment


		Location		Main activity/Business		% Ownership		% Voting capital		% Noncontrolling interest
Direct and indirect subsidiaries
Companhia Portuária da Baía de Sepetiba		Brazil		Iron ore		100.0%		100.0%		0.0%
Minerações Brasileiras Reunidas S.A. (“MBR”)		Brazil		Iron ore		100.0%		100.0%		0.0%
Salobo Metais S.A.		Brazil		Copper		100.0%		100.0%		0.0%
PT Vale Indonesia		Indonesia		Nickel		44.3%		44.3%		55.7%
Vale Holdings B.V.		Netherlands		Holding and research		100.0%		100.0%		0.0%
Vale Canada Limited		Canada		Nickel		100.0%		100.0%		0.0%
Vale International S.A.		Switzerland		Trading and holding		100.0%		100.0%		0.0%
Vale Malaysia Minerals Sdn. Bhd.		Malaysia		Iron ore		100.0%		100.0%		0.0%
Vale Oman Distribution Center LLC		Oman		Iron ore and pelletizing plant		100.0%		100.0%		0.0%
Vale Oman Pelletizing Company LLC		Oman		Pelletizing plant		70.0%		70.0%		30.0%
Associates and joint ventures
Aliança Geração de Energia S.A.		Brazil		Energy		55.0%		55.0%		45.0%
Aliança Norte Energia Participações S.A.		Brazil		Energy		51.0%		51.0%		49.0%
Companhia Coreano-Brasileira de Pelotização		Brazil		Pellets		50.0%		50.0%		50.0%
Companhia Hispano-Brasileira de Pelotização		Brazil		Pellets		50.9%		50.0%		49.1%
Companhia Ítalo-Brasileira de Pelotização		Brazil		Pellets		50.9%		50.0%		49.1%
Companhia Nipo-Brasileira de Pelotização		Brazil		Pellets		51.0%		50.0%		49.0%
Samarco Mineração S.A.		Brazil		Pellets		50.0%		50.0%		50.0%
Companhia Siderúrgica do Pecém		Brazil		Steel industry		50.0%		50.0%		50.0%
Mineração Rio do Norte S.A.		Brazil		Bauxite		40.0%		40.0%		60.0%
MRS Logística S.A.		Brazil		Logistics		48.2%		47.1%		51.8%
VLI S.A.		Brazil		Logistics		29.6%		29.6%		70.4%

Summarized financial information of noncontrolling interest


		December 31, 2022
			PTVI		Vale Oman Pelletizing (note 16n)			Other		Total
Current assets			853		84			-		-
Non-current assets			2,147		581			-		-
Related parties – Shareholders			113		81			-		-
Total assets			3,113		746			-		-

Current liabilities			183		96			-		-
Non-current liabilities			249		149			-		-
Related parties – Shareholders			-		297			-		-
Total liabilities			432		542			-		-

Equity			2,681		204			-		-
Equity (negative reserves) attributable to noncontrolling interests			1,492		61			(62)		1,491

Net income			181		29			-		-
Net income (loss) attributable to noncontrolling interests			101		9			(28)		82

Dividends paid to noncontrolling interests			-		12			-		12

	December 31, 2021
		PTVI		Vale Moçambique			Vale Oman Pelletizing		Other		Total
Current assets		771		420			92		-		-
Non-current assets		1,875		195			633		-		-
Related parties – Shareholders		82		6			25		-		-
Total assets		2,728		621			750		-		-

Current liabilities		174		224			97		-		-
Non-current liabilities		70		74			157		-		-
Related parties – Shareholders		-		12,072			296		-		-
Total liabilities		244		12,370			550		-		-

Equity (negative reserves)		2,484		(11,749)			200		-		-
Equity (negative reserves) attributable to noncontrolling interests		1,383		(587)			60		(21)		834

Net income		198		326			27		-		-
Net income (loss) attributable to noncontrolling interests		110		(85)			8		(10)		23

Dividends paid to noncontrolling interests		18		-			12		-		30