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v3.24.3

Information by business segment and geographic area (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Notes and other explanatory information [abstract] |
Schedule of adjusted EBITDA |
Schedule of adjusted EBITDA |  |  |  |  |
|  | Three-month period ended June 30, | Six-month period ended June 30,
| Notes | 2024 | 2023 (revised) | 2024 | 2023 (revised)
Iron ore |  | 3,071 | 3,175 | 5,578 | 5,871
Iron ore pellets |  | 724 | 757 | 1,606 | 1,449
Other ferrous products and services |  | 92 | 150 | 162 | 220
Iron Solutions |  | 3,887 | 4,082 | 7,346 | 7,540
Nickel |  | 108 | 240 | 125 | 593
Copper |  | 351 | 236 | 635 | 456
Other energy transition metals |  | (52) | - | (96) | -
Energy Transition Metals |  | 407 | 476 | 664 | 1,049
Other (i) |  | (301) | (560) | (579) | (877)
Adjusted EBITDA |  | 3,993 | 3,998 | 7,431 | 7,712
Depreciation, depletion and amortization |  | (793) | (779) | (1,507) | (1,435)
Impairment and results on disposal of non-current assets, net and other (ii) |  | 928 | (118) | 855 | (157)
EBITDA from associates and joint ventures |  | (253) | (229) | (456) | (367)
Operating income |  | 3,875 | 2,872 | 6,323 | 5,753
Equity results and other results in associates and joint ventures | 14 | 112 | 5 | 236 | (50)
Financial results | 6 | (1,252) | (157) | (1,689) | (687)
Income before income taxes |  | 2,735 | 2,720 | 4,870 | 5,016
(i) Includes income (expenses) from Vale Base Metals Limited that were not allocated to the operating segment in the amount of US$2 and US$(45) for the three and six-month period ended June 30, 2024, respectively. (ii) Includes adjustments of US$82 and US$149 for the three and six-month period ended June 30, 2024, respectively, (2023: US$52 and US$87, respectively), to reflect the performance of the streaming transactions at market prices.
Schedule of net operating revenue by shipment destination |
Schedule of net operating revenue by shipment destination |  |  |  |  |  |  |
| Three-month period ended June 30, 2024
| Iron Solutions | Energy Transition Metals |
| Iron ore | Iron ore pellets | Other ferrous products and services | Nickel and other products | Copper | Other energy transition metals | Total
China | 4,787 | - | - | 84 | 94 | 29 | 4,994
Japan | 710 | 87 | 1 | 129 | - | - | 927
Asia, except Japan and China | 605 | 112 | 2 | 82 | 136 | - | 937
Brazil | 273 | 410 | 172 | 12 | - | 1 | 868
United States of America | - | 51 | - | 196 | - | 7 | 254
Americas, except United States and Brazil | - | 107 | - | 141 | 39 | - | 287
Germany | 89 | 49 | - | 81 | 67 | - | 286
Europe, except Germany | 265 | 11 | - | 141 | 366 | 10 | 793
Middle East, Africa, and Oceania | - | 567 | - | 7 | - | - | 574
Net operating revenue | 6,729 | 1,394 | 175 | 873 | 702 | 47 | 9,920
| Three-month period ended June 30, 2023
| Iron Solutions | Energy Transition Metals |  |
| Iron ore | Iron ore pellets | Other ferrous products and services | Nickel and other products | Copper | Other | Total
China | 4,364 | 2 | - | 217 | 55 | - | 4,638
Japan | 623 | 54 | - | 147 | - | - | 824
Asia, except Japan and China | 519 | 67 | 3 | 227 | - | - | 816
Brazil | 361 | 465 | 124 | 18 | - | 26 | 994
United States of America | - | 97 | - | 334 | - | - | 431
Americas, except United States and Brazil | - | 102 | - | 123 | 2 | - | 227
Germany | 47 | - | 1 | 123 | 123 | - | 294
Europe, except Germany | 321 | 119 | - | 181 | 312 | - | 933
Middle East, Africa, and Oceania | - | 507 | - | 9 | - | - | 516
Net operating revenue | 6,235 | 1,413 | 128 | 1,379 | 492 | 26 | 9,673
| Six-month period ended June 30, 2024
| Iron Solutions | Energy Transition Metals |
| Iron ore | Iron ore pellets | Other ferrous products and services | Nickel and other products | Copper | Other energy transition metals | Total
China | 8,315 | - | - | 138 | 186 | 29 | 8,668
Japan | 1,230 | 152 | 1 | 226 | - | - | 1,609
Asia, except Japan and China | 1,204 | 151 | 5 | 190 | 200 | - | 1,750
Brazil | 602 | 931 | 317 | 20 | - | 4 | 1,874
United States of America | - | 103 | - | 374 | - | 20 | 497
Americas, except United States and Brazil | - | 228 | - | 264 | 101 | - | 593
Germany | 157 | 84 | - | 177 | 194 | - | 612
Europe, except Germany | 506 | 52 | - | 299 | 598 | 21 | 1,476
Middle East, Africa, and Oceania | 7 | 1,278 | - | 15 | - | - | 1,300
Net operating revenue | 12,021 | 2,979 | 323 | 1,703 | 1,279 | 74 | 18,379
| Six-month period ended June 30, 2023
| Iron Solutions | Energy Transition Metals |  |
| Iron ore | Iron ore pellets | Other ferrous products and services | Nickel and other products | Copper | Other | Total
China | 7,639 | 2 | - | 295 | 109 | - | 8,045
Japan | 1,102 | 106 | - | 305 | - | - | 1,513
Asia, except Japan and China | 922 | 108 | 5 | 367 | 44 | - | 1,446
Brazil | 722 | 874 | 229 | 37 | - | 51 | 1,913
United States of America | - | 183 | - | 759 | - | - | 942
Americas, except United States and Brazil | 1 | 248 | - | 266 | 2 | - | 517
Germany | 138 | 33 | 1 | 297 | 253 | - | 722
Europe, except Germany | 693 | 258 | - | 543 | 574 | - | 2,068
Middle East, Africa, and Oceania | - | 923 | - | 18 | - | - | 941
Net operating revenue | 11,217 | 2,735 | 235 | 2,887 | 982 | 51 | 18,107
Schedule of assets by segment |
Schedule of assets by segment |  |  |  |  |  |  |  |
| June 30, 2024 | December 31, 2023
| Iron Solutions | Energy Transition Metals | Other | Total | Iron Solutions | Energy Transition Metals | Other | Total
Investments in associates and joint ventures | 1,320 | 1,910 | 485 | 3,715 | 1,349 | - | 523 | 1,872
Property, plant and equipment and intangibles | 34,598 | 17,483 | 2,696 | 54,777 | 38,376 | 18,341 | 3,310 | 60,027
| Three-month period ended June 30,
| 2024 | 2023
| Iron Solutions | Energy Transition Metals | Other | Total | Iron Solutions | Energy Transition Metals | Other | Total
Capital expenditures |  |  |  |  |  |  |  |
Sustaining capital (i) | 613 | 372 | 15 | 1,000 | 472 | 326 | 34 | 832
Project execution | 293 | 33 | 2 | 328 | 255 | 95 | 26 | 376
Total capital expenditures | 906 | 405 | 17 | 1,328 | 727 | 421 | 60 | 1,208
| Six-month period ended June 30,
| 2024 | 2023
| Iron Solutions | Energy Transition Metals | Other | Total | Iron Solutions | Energy Transition Metals | Other | Total
Capital expenditures |  |  |  |  |  |  |  |
Sustaining capital (i) | 1,294 | 700 | 34 | 2,028 | 984 | 589 | 63 | 1,636
Project execution | 613 | 72 | 10 | 695 | 491 | 167 | 44 | 702
Total capital expenditures | 1,907 | 772 | 44 | 2,723 | 1,475 | 756 | 107 | 2,338
(i) According to the Company's shareholders remuneration policy, minimum remuneration to Vale shareholders are calculated based on 30% of the adjusted EBITDA less sustaining capital investments.
Schedule of assets by geographic area |
Schedule of assets by geographic area |  |  |  |  |  |  |  |
| June 30, 2024 | December 31, 2023
| Investments in associates and joint ventures | Intangible | Property, plant and equipment | Total | Investments in associates and joint ventures | Intangible | Property, plant and equipment | Total
Brazil | 1,805 | 8,451 | 30,317 | 40,573 | 1,872 | 9,822 | 33,769 | 45,463
Canada | - | 1,742 | 11,703 | 13,445 | - | 1,808 | 11,890 | 13,698
Americas, except Brazil and Canada | - | - | 4 | 4 | - | - | 4 | 4
Indonesia | 1,910 | - | 57 | 1,967 | - | - | 59 | 59
China | - | 1 | 10 | 11 | - | 1 | 14 | 15
Asia, except Indonesia and China | - | - | 672 | 672 | - | - | 731 | 731
Europe | - | - | 603 | 603 | - | - | 678 | 678
Oman | - | 1 | 1,216 | 1,217 | - | - | 1,251 | 1,251
Total | 3,715 | 10,195 | 44,582 | 58,492 | 1,872 | 11,631 | 48,396 | 61,899

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