Jun 1, 1942 CE
Foundation of Companhia Vale do Rio Doce
The Brazilian government establishes Companhia Vale do Rio Doce (CVRD) to explore and export iron ore from Minas Gerais. #mining #brazil )
Chronological Storyline (33 Milestones)
Oct 1, 1942 CE
First Iron Ore Export to the United States
Vale ships its first load of iron ore to the United States, marking its entry into international markets. #mining #export )
1966 CE
Inauguration of Porto de Tubarão
Vale opens the Tubarão port terminal in Vitória, Espírito Santo, becoming a major iron ore shipping hub. #infrastructure #mining )
1974 CE
Start of Carajás Iron Ore Project
Discovery and development of the Carajás iron ore deposit in Pará, one of the largest in the world. #mining #discovery )
May 6, 1997 CE
Privatization of Vale
Vale is privatized in an auction, sold to Consórcio Brasil led by CSN and Previ for R$3.3 billion. #privatization #brazil )
Jul 1, 1997 CE
Listing on Bovespa
Vale's shares begin trading on the São Paulo Stock Exchange (Bovespa, now B3). #ipo #stockmarket )
2000 CE
Acquisition of Socoimex
Vale acquires Socoimex, expanding its iron ore operations in Minas Gerais. #acquisition #mining )
2001 CE
Acquisition of Caemi
Vale buys miner Caemi, gaining control of significant iron ore reserves. #acquisition #mining )
2002 CE
Acquisition of Ferteco
Vale acquires Ferteco Mineração, further consolidating iron ore production. #acquisition #mining )
2003 CE
Rebranding to Vale
Companhia Vale do Rio Doce changes its corporate name to Vale, reflecting diversification beyond iron ore. #rebranding #mining )
2004 CE
Acquisition of MBR
Vale acquires Minerações Brasileiras Reunidas (MBR) for US$1.2 billion, becoming a top global iron ore producer. #acquisition #ironore )
2005 CE
Acquisition of Canico Resource
Vale acquires Canadian nickel company Canico Resource, entering the nickel market. #acquisition #nickel )
Oct 1, 2006 CE
Acquisition of Inco
Vale acquires Canadian nickel miner Inco for US$19.4 billion, becoming the world's second-largest nickel producer. #acquisition #nickel )
2007 CE
NYSE Listing and Global Expansion
Vale lists on the New York Stock Exchange (NYSE) and invests heavily in global mineral exploration. #ipo #globalexpansion )
Dec 12, 2008 CE
Record Iron Ore Production
Vale achieves record iron ore output of 300 million tonnes annually. #production #ironore )
2010 CE
Acquisition of Fosfertil
Vale acquires fertilizer producer Fosfertil to expand into agricultural minerals. #acquisition #fertilizer )
2011 CE
Stake in Mosaic
Vale acquires a minority stake in U.S. fertilizer company Mosaic for US$7 billion. #investment #fertilizer )
2012 CE
Acquisition of International Metals
Vale buys Mining and Metals International (MMI) for US$5.9 billion, adding copper and coal assets. #acquisition #copper #coal )
2013 CE
Murilo Ferreira Becomes CEO
Murilo Ferreira takes over as CEO, implementing cost-cutting measures amid falling iron ore prices. #leadership #ceo )
Nov 5, 2015 CE
Samarco Dam Disaster
A dam at the Samarco joint venture collapses in Mariana, Minas Gerais, killing 19 people and causing massive environmental damage. #disaster #mining
By Senado Federal - Bento Rodrigues, Mariana, Minas Gerais, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=45118989
2016 CE
Sale of Fertilizer Assets
Vale sells its fertilizer business to Mosaic for US$2.5 billion, focusing on core mining operations. #divestiture #fertilizer )
2017 CE
Fabio Schvartsman Appointed CEO
Fabio Schvartsman becomes CEO, aiming to improve safety and restore investor confidence. #leadership #ceo )
Dec 31, 2018 CE
Market Cap Reaches All-Time High
Vale's market capitalization peaks at over US$100 billion amid strong iron ore demand. #financial #marketcap )
Jan 25, 2019 CE
Brumadinho Dam Collapse
A tailings dam at the Córrego do Feijão mine in Brumadinho collapses, killing 272 people and triggering a global mining safety review. #disaster #mining
By Ibama from Brasil - Brumadinho, Minas Gerais, CC BY-SA 2.0, https://commons.wikimedia.org/w/index.php?curid=76936072
Mar 1, 2019 CE
Fabio Schvartsman Resigns After Brumadinho
CEO Fabio Schvartsman resigns amid the fallout from the Brumadinho disaster. #leadership #corporate )
2020 CE
Sale of Coal Assets
Vale sells its coal operations in Mozambique and Australia to focus on carbon reduction. #divestiture #coal )
Apr 1, 2021 CE
Eduardo Bartolomeo Takes Helm
Eduardo Bartolomeo becomes CEO, emphasizing safety, ESG initiatives, and operational excellence. #leadership #ceo )
2021 CE
Vale Divests from New Caledonia
Vale sells its New Caledonia nickel operations, withdrawing from high-cost assets. #divestiture #nickel )
2022 CE
Launch of Decarbonization Roadmap
Vale announces a plan to reduce carbon emissions by 33% by 2030, aiming for net-zero by 2050. #ESG #sustainability )
2023 CE
S11D Expansion Continues
Vale's S11D mine in Carajás reaches full capacity, becoming the largest iron ore mine in the world. #mining #expansion )
2023 CE
Record Iron Ore Production Guidance
Vale sets guidance for iron ore production of 310-320 million tonnes in 2023, driven by strong demand. #production #ironore )
2024 CE
B3 Market Standing as Top Miner
Vale remains the largest mining company listed on B3, with a market cap of around US$70 billion. #stockmarket #brazil )
2024 CE
Vale Signs Major Green Steel Agreement
Vale partners with steelmakers to produce green steel using hydrogen and renewable energy. #greensteel #sustainability )