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FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2023
Notes and other explanatory information [abstract]  
Schedule of financial instruments
                               
                                Consolidated
Consolidated           12/31/2023       12/31/2022
  Notes   Fair value through other comprehensive income   Fair value through profit or loss   Measured at amortized cost   Balances   Fair value through profit or loss   Measured at amortized cost   Balances
Assets                                
Current                                
Cash and cash equivalents   4            16,046,218    16,046,218        11,991,356    11,991,356
Short-term investments   5        1,493,204   39,800   1,533,004   1,184,895   271,590   1,456,485
Trade receivables   6           3,269,764   3,269,764       3,233,164   3,233,164
Dividends and interest on equity   9           185,178   185,178        77,377    77,377
Derivative financial instruments   9       32,211        32,211            
Trading securities   9        7,198       7,198   9,596       9,596
Loans - related parties   9         5,316   5,316     5,383   5,383
Total          1,532,613    19,546,276    21,078,889   1,194,491    15,578,870    16,773,361
                                 
Non-current                                
Investments   5         251,299   251,299     156,185   156,185
Other trade receivables   9         10,406    10,406     8,059   8,059
Eletrobrás compulsory loan   9         62,913    62,913      58,030    58,030
Receivables by indemnity   9         992,577   992,577     974,863   974,863
Loans - related parties   9         1,659,412   1,659,412     1,384,773   1,384,773
Investments   10     78,737      78,737    94,700      94,700
Total         78,737   2,976,607   3,055,344    94,700   2,581,910   2,676,610
                                 
Total Assets          1,611,350    22,522,883    24,134,233   1,289,191    18,160,780    19,449,971
                                 
Liabilities                              
Current                                
Borrowings and financing   13          7,701,796   7,701,796        5,269,952    5,269,952
Leases   15         137,638   137,638        177,010   177,010
Trade payables   16          7,739,520   7,739,520        6,596,915    6,596,915
Trade payables -drawee risk   17          4,209,434   4,209,434        5,709,069    5,709,069
Dividends and interest on capital   17         80,624   80,624        611,307   611,307
Derivative financial instruments   17   672,280    263,747     936,027   416,935     416,935
Total       672,280    263,747    19,869,012   20,805,039   416,935    18,364,253    18,781,188
                                 
Non-current                                
Borrowings and financing   13          37,772,116   37,772,116        36,170,996    36,170,996
Leases   15         596,123   596,123        516,836   516,836
Trade payables   16         31,060   31,060        46,269    46,269
Derivative financial instruments   17      60,468     60,468   69,472      69,472
Concessions payable   17           74,177   74,177        77,296    77,296
Total          60,468    38,473,476   38,533,944   69,472    36,811,397    36,880,869
                                 
Total Liabilities       672,280    324,215    58,342,488   59,338,983   486,407    55,175,650    55,662,057

 

 
Schedule of fair value hierarchy
                       
Consolidated           12/31/2023           12/31/2022
  Level 1   Level 2   Balances   Level 1   Level 2   Balances
Assets                        
Current                        
Financial investments   1,493,204       1,493,204   1,184,895       1,184,895
Derivative financial instruments     32,211         32,211            
Trading securities    7,198        7,198    9,596        9,596
Non-current                        
Investments     78,737         78,737     94,700         94,700
Total Assets   1,611,350       1,611,350   1,289,191       1,289,191
                         
Liabilities                        
Current                        
Derivative financial instruments       263,747   263,747       416,935   416,935
Non-current                        
Derivative financial instruments         60,468     60,468         69,472     69,472
Total Liabilities       324,215   324,215       486,407   486,407
Schedule of net exposure
       
    12/31/2023   12/31/2022
Foreign Exchange Exposure   (Amounts in US$’000)   (Amounts in US$’000)
Cash and cash equivalents overseas    2,228,736     1,191,036
Trade receivables   292,028     315,920
Financial investments     15,597   26,930
Borrowings and financing    (5,615,893)    (4,594,471)
Trade payables     (524,622)    (366,149)
Others    (42,474)     (23,079)
Natural Gross Foreign Exchange Exposure (assets - liabilities)   (3,646,628)    (3,449,813)
Cash flow hedge accounting    3,931,879     4,409,760
Exchange rate swap CDI x Dollar     (67,000)     (67,000)
Exchange rate swap Real x Dollar     (115,000)    (115,000)
Net foreign exchange exposure   103,251     777,947
Schedule of sensitivity analysis
               
                12/31/2023
Currency   Exchange rate   Probable scenario   Scenario 1   Scenario 2
USD   4.8413     4.9408     6.0516   7.2620
EUR   5.3516     5.3474     6.6895   8.0274
USD x EUR   1.1054     1.0823     1.3818   1.6581
Schedule of effects on scenarios 1 and 2
                   
Instruments   Notional   Risk   Probable scenario (*) R$   Scenario 1 R$   Scenario 2 R$
                     
Gross exchange position     (3,646,628)   Dollar    (362,839)    (4,413,605)   (8,827,210)
                     
Cash flow hedge accounting   3,931,879   Dollar     391,222     4,758,851    9,517,703
                     
Exchange rate swap CDI x Dollar    (67,000)   Dollar     (6,666)     (81,092)   (162,184)
                     
Exchange rate swap Real x Dollar    (115,000)   Dollar   (11,443)   (139,187)   (278,375)
                     
Net exchange position     103,251   Dollar    10,274    124,967    249,934

(*)The probable scenarios were calculated considering the following variations for the risks: Real x Dollar – devaluation of the Real by 2.06% / Real x Euro - valuation of the Real by 0.8% / Euro x Dollar - appreciation of the Dollar by 2.09%. Source: Central Bank of Brazil and European Central Bank quotations on February 20, 2024.
Schedule of changes in interest rates
           
            Consolidated
            12/31/2023
Interest   Interest rate   Scenario 1   Scenario 2
CDI   11.65%   14.56%   17.48%
TJLP   6.55%   8.19%   9.83%
IPCA   4.62%   5.78%   6.93%
SOFR 6M   5.16%   6.45%   7.74%
SOFR   5.38%   6.73%   8.07%
EURIBOR 3M   3.91%   4.89%   5.86%
EURIBOR 6M   3.86%   4.83%   5.79%
Schedule of effects on profit and loss
                       
                        Consolidated
Changes in interest rates   % p.a   Assets   Liabilities   Probable scenario (*)
   Scenario 1   Scenario 2
CDI   11.65     5,145,643    (15,051,974)    (11,060,419)    (11,348,940)    (11,637,462)
TJLP     6.55         (850,558)     (906,270)   (920,197)   (934,125)
IPCA     4.62        (34,181)    (35,761)     (36,155)     (36,550)
SOFR 6M     5.16         (3,609,189)     (3,795,341)   (3,841,879)   (3,888,417)
SOFR     5.38         (3,936,332)     (4,148,107)   (4,201,050)   (4,253,994)
EURIBOR 3M     3.91         (415,455)     (431,695)   (435,755)   (439,815)
EURIBOR 6M     3.86        (26,008)    (27,012)     (27,263)     (27,514)

(*)The sensitivity analysis is based on the premise of maintaining the market values as of December 31, 2023 as a probable scenario recorded in the company´s assets and liabilities.
Schedule of derivative instrument
                                       
                12/31/2023   12/31/2023   12/31/2022   12/31/2023   12/31/2022   12/31/2023   12/31/2022
         Appreciation (R$)     Fair value (market)    Other income and expenses (note 25)   Other comprehensive income   Exchange variation
 Maturity    Notional    Asset position     Liability position     Amounts receivable / (payable)       
05/31/2022 (Settled)    Platts                      23,374                (1,087)
12/01/2022 to 12/31/2022 (Settled)    Platts                     (75,664)         341,269        (3,246)
01/01/2023 to 11/30/2023 (Settled)    Platts                (527,076)               (11,844)    
12/01/2023 to 12/31/2023 (*)    Platts     1,708,582   (1,972,329)   (263,747)   (263,853)               599    
01/01/2024 to 01/31/2024    Platts     2,122,502   (2,411,003)   (288,501)           (288,501)       4,477    
02/01/2024 to 02/28/2024    Platts     1,314,990   (1,504,462)   (189,472)           (189,472)       3,370    
03/01/2024 to 03/31/2024    Platts     1,348,909   (1,440,328)    (91,419)             (91,419)       889    
04/01/2024 to 04/30/2024    Platts     964,254   (1,028,079)    (63,825)             (63,825)       789    
05/01/2024 to 05/31/2024    Platts     783,144   (817,011)    (33,867)             (33,867)       365    
06/01/2024 to 06/30/2024    Platts     283,636   (288,832)   (5,196)            (5,196)        32    
         8,526,017   (9,462,044)   (936,027)   (790,929)    (52,290)   (672,280)     341,269     (1,323)    (4,333)

(*)The transaction matured on December 31, 2023 and was settled at the beginning of January 2024.
Schedule of changes in cash flow hedge accounting
             
  12/31/2022   Movement   Realization   12/31/2023
Cash flow hedge accounting  –  “Platts”   (341,269)   (1,121,940)    790,929   (672,280)
 Income tax and social contribution on cash flow hedge accounting 116,031    381,460   (268,916)    228,575
Fair Value of cash flow accounting - Platts, net   (225,238)   (740,480)    522,013   (443,705)
Schedule of sensitivity analysis for Platts price risks
             
    12/31/2023
 Maturity     Probable scenario (*) R$     Scenario 1 R$     Scenario 2 R$ 
01/01/2024 to 01/31/2024   (202,888)     (783,153)   (1,363,417)
02/01/2024 to 02/29/2024    (50,344)     (390,249)   (730,155)
03/01/2024 to 03/31/2024     79,161     (239,566)   (558,293)
04/01/2024 to 04/30/2024     55,298     (172,219)   (399,736)
05/01/2024 to 05/31/2024     59,651     (121,760)   (303,171)
06/01/2024 to 06/30/2024     27,517   (37,046)   (101,609)
     (31,605)     (1,743,993)   (3,456,381)
(*)The probable scenario was calculated considering the “Platts” price on February 20, 2024.
Schedule of relations of hedge
                                     
                                    12/31/2023
Designation Date   Hedging Instrument   Hedged item   Type of hedged risk   Hedged period   Exchange rate on designation   Designated amounts (US$’000)   Amortizated part (USD'000)   Effect on Result (*) (R$'000)   Impact on Shareholders' equity (R$'000)
2/4/2018   Bonds   Part of the highly probable future monthly iron ore exports   Foreign exchange - R$ vs. US$ spot rate    July 2018 - February 2023      3.3104   1,170,045   (1,170,045)   (281,258)    
07/31/2019   Bonds and Export prepayments in US$ to third parties   Part of the highly probable future monthly iron ore exports   Foreign exchange - R$ vs. US$ spot rate    January 2020 - April 2026      3.7649   1,342,761   (871,761)     (57,873)    (506,984)
10/1/2020   Bonds   Part of the highly probable future monthly iron ore exports   Foreign exchange - R$ vs. US$ spot rate    March 2020 to November 2025 until December 2050      4.0745   1,416,000   (1,404,021)        (1,332,313)
01/28/2020   Bonds   Part of the highly probable future monthly iron ore exports   Foreign exchange - R$ vs. US$ spot rate    March 2027 - January 2028      4.2064   1,000,000            (634,900)
1/6/2022   Bonds and Export prepayments in US$ to third parties   Part of the highly probable future monthly iron ore exports   Foreign exchange - R$ vs. US$ spot rate    June 2022 - April 2032      4.7289   1,145,300   (137,300)     (24,475)    (113,299)
1/6/2022   Export prepayments in US$ to third parties   Part of the highly probable future monthly iron ore exports   Foreign exchange - R$ vs. US$ spot rate    June 2022 - May 2033      4.7289   878,640   (110,740)     (14,312)     (86,312)
1/12/2022   Advance on foreign exchange contract   Part of the highly probable future monthly iron ore exports   Foreign exchange - R$ vs. US$ spot rate    December 2022 - November 2023      5.1643    60,000     (60,000)   16,398    
1/12/2022   Advance on foreign exchange contract   Part of the highly probable future monthly iron ore exports   Foreign exchange - R$ vs. US$ spot rate    December 2022 - December 2025      5.2565   100,000           41,520
1/12/2022   Advance on foreign exchange contract   Part of the highly probable future monthly iron ore exports   Foreign exchange - R$ vs. US$ spot rate    December 2022 - January 2024      5.2660    50,000           21,235
1/12/2022   Advance on foreign exchange contract   Part of the highly probable future monthly iron ore exports   Foreign exchange - R$ vs. US$ spot rate    December 2022 - November 2023      5.3270    20,000     (20,000)    8,720    
1/12/2022   Bonds   Part of the highly probable future monthly iron ore exports   Foreign exchange - R$ vs. US$ spot rate    December 2022 - June 2031      5.0360   490,000     (37,000)   (606)   88,199
1/12/2022   Export prepayments in US$ to third parties   Part of the highly probable future monthly iron ore exports   Foreign exchange - R$ vs. US$ spot rate    December 2022 - June 2027      5.0360    70,000           13,629
Total                       7,742,746   (3,810,867)   (353,406)    (2,509,225)

(*)The realization of Hedge accounting cash flow is recognized in Other operating income and expenses, note 27.
Schedule of hedge accounting movements
               
              Consolidated
  12/31/2022   Movement   Realization   12/31/2023
Cash flow hedge accounting   (4,434,697)   1,572,066    353,406     (2,509,225)
Income tax and social contribution on cash flow hedge accounting 1,507,797     (534,502)   (120,158)   853,137
Fair Value of cash flow accounting, net taxes   (2,926,900)   1,037,564    233,248     (1,656,088)
Schedule of liquidity risk
                   
                  Consolidated
At December 31, 2023 Less than one year   From one to two years   From two to five years   Over five years   Total
Borrowings, financing and debentures (note 13) 7,701,796    10,126,875    12,315,903    15,329,338    45,473,912
Lease Liabilities (note 15) 137,638   208,039   138,412   249,672   733,761
Derivative financial instruments (note 14 a) 936,027    60,468       996,495
Trade payables (note 16) 7,739,520    28,059   514   2,487   7,770,580
Trade payables - Drawee Risk (note 16 and 17) 4,209,434         4,209,434
Dividends and interest on equity (note 16 and 17)  80,624          80,624
   20,805,039    10,423,441    12,454,829    15,581,497    59,264,806
Schedule of fair values of assets and liabilities
               
      12/31/2023       12/31/2022
  Closing Balance   Fair value   Closing Balance   Fair value
Fixed Rate Notes (*)   15,030,441   12,825,475     15,656,088   13,782,836

(*)Source: Bloomberg
Schedule of position of the derivatives
                                   
                                    Consolidated
                            12/31/2023   12/31/2022   12/31/2021
                Appreciation (R$)   Fair value (market)   Impact on financial income (expenses) (note 26)
Instrument   Maturity   Functional Currency   Notional amount   Asset position   Liability position   Amounts receivable / (payable)  
Exchange rate swap                                    
                                     
Exchange rate swap Dollar x Euro    Settled    Dollar                        7,119
Exchange rate swap Dollar x Real   Settled    Dollar                      176,991    37,322
Exchange rate swap CDI x Dollar    Settled    Dollar                  31,469    43,817    (9,960)
Exchange rate swap Dollar x Euro    5/2/2024    Dollar    20,000           9,567   9,567        
Exchange rate swap CDI x Dollar    10/4/2028    Real    680,000   748,622   (736,499)   12,123   12,122        
Exchange rate swap Dollar x Real   10/6/2027    Dollar    115,000   572,648   (633,116)    (60,468)    (96,602)   (11,467)    
Total Swap            815,000    1,321,270   (1,369,615)    (38,778)    (43,444)   209,341    34,481
                                 
Interest rate swap                                
Interest rate (Debentures) CDI x IPCA   07/15/2031    Real    576,448   681,828   (627,557)   54,271   55,829   (67,471)   (17,432)
Interest rate (Debentures) CDI x IPCA   07/15/2032    Real    745,000   859,068   (821,688)   37,380   5,842   (36,571)    
Interest rate (Debentures) CDI x IPCA   07/15/2036    Real    423,552   479,374   (471,900)   7,474   49,964   (25,057)   (17,488)
Interest rate (Debentures) CDI x IPCA   07/15/2037    Real    655,382   706,622   (697,546)   9,076    (53,027)   (25,579)    
Interest rate (Debentures) CDI x IPCA   02/16/2032    Real    600,000   699,420   (638,471)   60,949   22,690   (24,089)    
Interest rate (Debentures) CDI x IPCA   2/12/2032    Real    600,000   707,137   (653,164)   53,973   16,462   (79,130)    
Interest rate (Debentures) CDI x IPCA   07/15/2030    Real    325,384   346,536   (337,730)   8,806   8,806      
Interest rate (Debentures) CDI x IPCA   07/15/2033    Real    183,185   202,594   (195,441)   7,153   7,153      
Interest rate (Debentures) CDI x IPCA   07/14/2038    Real    203,620   208,937   (209,962)    (1,025)    (1,025)      
Total interest rate (Debentures) CDI x IPCA            4,312,571    4,891,515   (4,653,458)   238,057   112,694    (257,897)   (34,920)
                                     
                 6,212,785   (6,023,073)   199,279   69,250   (48,556)   (439)
Schedule of balance sheet and statement of income
                               
                        12/31/2023   12/31/2022   12/31/2021
Instruments   Assets   Liabilities   Financial income (expenses), net (note 26)
  Current   Total   Current   Non-current   Total  
Exchange rate swap (NDF) Dollar x real (settled)                            176,991    37,322
Iron ore derivative    10,521    10,521    (936,027)      (936,027)        
Exchange rate swap Dollar x Euro    9,567   9,567              9,567      7,119
Exchange rate swap CDI x Dollar     12,123    12,123              43,591    43,817   (9,960)
Exchange rate swap CDI x IPCA (1)               238,057   238,057   112,694   (257,897)   (34,920)
Exchange rate swap Dollar x real               (60,468)    (60,468)   (96,602)   (11,467)  
     32,211    32,211    (936,027)   177,589    (758,438)    69,250   (48,556)    (439)
Schedule of other operating income and expenses
                                           
Class of shares   12/31/2023   12/31/2022   12/31/2023   12/31/2022   12/31/2021
  Quantity   Equity interest (%)   Share price   Closing Balance   Quantity   Equity interest (%)   Share price   Closing Balance   Profit or loss (notes 26 and 27)
USIM3   106,620,851   15.12%   9.20   980,912   106,620,851   15.12%     7.41   790,061   190,851   (757,008)     (121,593)
USIM5     55,144,456   10.07%   9.29   512,292     55,144,456   10.07%     7.16   394,834   117,458   (441,156)   506,890
                1,493,204               1,184,895   308,309    (1,198,164)   385,297
PATI3    2,705,726   11.31%    29.10     78,737    2,705,726   11.31%    35.00    94,700    (15,963)     (95,620)   109,254
                1,571,941               1,279,595   292,346    (1,293,784)   494,551
Schedule of sensitivity analysis for stock price risks
           
        12/31/2023
Class of shares   Probable scenario   Scenario 1   Scenario 2
    5%   25%   50%
 USIM3     (49,046)     (245,228)   (490,456)
 USIM5     (25,615)     (128,073)   (256,146)
 PATI3    (3,937)    (19,684)     (39,368)
Schedule of capital management
       
Thousands of reais   12/31/2023   12/31/2022
Shareholder's equity (equity)    19,684,838    21,907,929
Borrowings and Financing (Third-party capital)    44,859,075    40,918,742
Gross Debit/Shareholder's equity     2.28     1.87