Vale Investor Conference Presentation Deck
2022 BofA Securities Global Metals, Mining & Steel Conference
Sizable reserves and resources enable supply
optionality and long-life valuation
Carajás is the best iron ore reserve basin in the industry
Size: reserves
Reserves raw ore grade (%)
70
60
50
40
30
0
Vale
Peers
10
Vale is positioned in tier 1 mining jurisdictions
Iron ore
Serra Norte
20
Serra Leste
40
30
LOM (years)
Serra Sul
Carajás
basin
50
60
70
Canada
Brazil
Top 3 or better resource positioned in each jurisdiction for
primary mined metals ¹
Indonesia ³
Nickel-contained (Mt, 2021)
#% metal grade
(resources)
3.0
2.2
1.6%
Total Ni: 13.6 Mt4
1.4%
8.4 1.7%
Large resource base
Green portfolio
Cost competitive
Growth opportunities
Base Metals
2.62
Copper-contained (Mt, 2021)
#% metal grade
(resources)
15.5
17.2
Total Cu: 35.3 Mt4
1.6%
0.6%
0.8%
Source: Vale and peers annual reports.
Note: Vale's 2021 Mineral Resource estimates as of December 31, 2021. Mineral Resources are inclusive of reserves measured, indicated and inferred categories. All tonnage information has been rounded to reflect the
relative uncertainty in the estimates. 1 Primary mined metals refers to nickel for Canada, copper and nickel each for Brazil and Indonesia. For Canadian copper, which is a byproduct, Vale is not Top 3 in resources.
Copper is a byproduct of Canadian nickel operations. 3 Minerals resources are shown in 100% basis. Considering Vale's interest in PTVI (44.3%) and PT STM - Hu'u project (80%), resources in Indonesia in equity basis
would be 3.7 Mt for Nickel and 13.7 Mt for Copper. 4 Total minerals resources are shown in 100% basis. Considering Vale's interest, resource in equity basis would be 8.8 Mt for Nickel and 31.8 Mt for Copper.
2
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