Vale Results Presentation Deck
Vale's Performance in 2022: Finance
Higher costs mostly driven by external effects
Iron ore fines & pellets EBITDA break-even - 2022
US$/t
Vale's C1 cash cost ex-third-party purchase cost
Third-party purchases cost adjustments
Vale's iron ore cash cost (ex-ROM, ex-royalties), FOB
Iron ore fines freight cost
Iron ore fines distribution cost
Iron ore fines expenses & royalties
Iron ore fines moisture adjustment
Iron ore fines quality adjustment
Iron ore fines EBITDA break-even (US$/dmt)
Iron ore fines pellet adjustment
Iron ore
and pellets EBITDA break-even (US$/dmt)
1Q22
18.7
2.5
21.2
18.1
1.7
8.0
4.4
(4.4)
49.0
(4.7)
44.3
2022
(20.9)
3.3
24.2
(21.3)
2.2
6.9
4.9
((1.1))
58.4
((6.2)
52.2
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Higher bunker prices: - US$ 2.7/t
Avg. freight cost 30% lower than C3 spot prices
• US$ 2.4/t of cost avoidance by scrubbers' installation
Exchange rate: - US$ 1.0/t
Consumption of Q1 inventories: - US$ 0.6/t
Higher fuel costs: - US$ 0.4/t
Negative mix effect: US$ 3.0/t
• Lower unit premium: US$ 0.3/t
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Seasonal dividends received: US$ 1.0/t
Higher pellet premiums and mix: US$ 0.5/t
44% higher contractual premiums for Q3View entire presentation