Investor Presentaiton

Salobo Overview - Largest copper deposit ever found in Brazil with more than 49 years of mine life Sulphide ore deposit World-class ore body - High copper grade: 0,91% in 1Q16 - High gold grade: 0,67 g/t in 1Q16 High quality concentrate with 38.0-38.8% Cu content and 15-24 g/t Au content VALE 5

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