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Equity (Tables)
 12 Months Ended
Dec. 31, 2023
Disclosure Equity Abstract  
Schedule of share capital
       
  December 31, 2023  
Shareholders Common shares Golden shares Total  
Previ 395,314,056 - 395,314,056  
Mitsui&co 286,347,055 - 286,347,055  
Blackrock, Inc 264,763,034 - 264,763,034  
Total shareholders with more than 5% of capital (i) 946,424,145 - 946,424,145  
Free floating 3,353,430,143 - 3,353,430,143  
Golden shares - 12 12  
Total outstanding (without shares in treasury) 4,299,854,288 12 4,299,854,300  
Shares in treasury 239,153,280 - 239,153,280  
Total capital 4,539,007,568 12 4,539,007,580  

 

(i) The number of shares is based on communications sent by shareholders pursuant to Resolution 44 issued by the Brazilian Securities Exchange Commission (“CVM”).
Schedule of cancelation of treasury shares
   
  Number of canceled shares Carrying amount
Cancelation approved on March 2, 2023 (i) 239,881,683 4,164
Year ended December 31, 2023 239,881,683 4,164
     
Cancelation approved on February 24, 2022 (i) 133,418,347 2,830
Cancellation approved on July 28, 2022 220,150,800 3,786
Year ended December 31, 2022 353,569,147 6,616
Schedule of share buyback program
             
  Total of shares repurchased   Effect on cash flows
  Year ended December 31,
  2023   2022   2023   2022
Shares buyback program up to 150,000,000 shares (i)              
Acquired by Parent 1,500,000   -   22   -
Acquired by wholly owned subsidiaries 1,500,000   -   22   -
Total 3,000,000   -   44   -
               
Shares buyback program up to 500,000,000 shares (ii)              
Acquired by Parent 93,638,352   87,779,900   1,378   1,375
Acquired by wholly owned subsidiaries 88,058,750   90,847,177   1,292   1,410
Total 181,697,102   178,627,077   2,670   2,785
               
Shares buyback program up to 470,000,000 shares (iii)              
Acquired by Parent -   81,855,600   -   1,501
Acquired by wholly owned subsidiaries -   96,959,900   -   1,750
Total -   178,815,500   -   3,251
Shares buyback program 184,697,102   357,442,577   2,714   6,036

(i) On October 26, 2023, a new share buyback program limited to a maximum of 150,000,000 common shares and their respective ADRs, over the next 18 months started from the end of the program previously on going.

(ii) On April 27, 2022, the Board of Directors approved the common shares buyback program, limited to a maximum of 500,000,000 common shares or their respective ADRs, with a term of 18 months.

(iii) On April 1, 2021, the Board of Directors approved the common share buyback program, limited to a maximum of 270,000,000 common shares or their respective ADRs. In continuation of the previous program, the Board of Directors approved a new share repurchase program on October 28, 2021, with a limit of up to 200,000,000 common shares or their respective ADRs. Both programs ended in 2022.
Schedule of profit distribution
     
  2023   2022
Net income of the year 7,983   18,788
Appropriation to legal reserve (i) -   (276)
Appropriation to tax incentive reserve (891)   (1,157)
Net income after appropriations to legal reserve and tax incentive reserve 7,092   17,355
       
Minimum remuneration to shareholders (ii) 2,042   4,386
       
Additional shareholders' remuneration      
from the net income for the year 4,066   437
       
Total remuneration to shareholders 6,108   4,823
Appropriation to statutory reserve 984   8,821
Appropriation to retained earnings reserve -   3,711

 

(i) In 2022, the limit of 20% of the share capital for the constitution of the legal reserve was reached, in accordance with article 193 of Law 6,404 and article 39 of the Company's By-laws.

(ii) Mandatory minimum remuneration was fully approved.
Schedule of profit reserves
                       
    Legal reserve   Tax incentive reserve    Statutory reserve   Retained earnings reserve   Additional remuneration reserve   Total of profit reserves
Balance as of December 31, 2021   2,523   3,083   6,898   -   3,198   15,702
Allocation of income   276   1,157   8,821   3,711   437   14,402
Deliberated dividends and interest on capital of Vale's shareholders   -   -   -   -   (3,500)   (3,500)
Treasury shares cancellation   -   -   (6,616)   -   -   (6,616)
Tranfer of reserves   -   3   (3)   -   -   -
Translation adjustment   165   173   249   (133)   302   756
Balance as of December 31, 2022   2,964   4,416   9,349   3,578   437   20,744
Allocation of income   -   891   984   -   2,364   4,239
Deliberated dividends and interest on capital of Vale's shareholders   -   -   -   -   (437)   (437)
Treasury shares cancellation   -   -   (4,164)   -   -   (4,164)
Translation adjustment   230   383   604   278   -   1,495
Balance as of December 31, 2023   3,194   5,690   6,773   3,856   2,364   21,877