Vale SA (NYSE: VALE, Hong Kong Stock Exchange: 6210, Hong Kong Stock Exchange: 6230 ) was founded in 1942 and is headquartered in Rio de Janeiro, Brazil, formerly known as Companhia Vale do Rio Doce. It was changed to its current name in May 2009 , Is the world’s largest iron ore (mineral sand) producer and supplier, and the largest mining company in the American continent. It is known as Brazil’s “Crown Jewel” and “the engine of the Amazon region”.
Brazil’s Vale’s iron ore output accounts for 80% of Brazil’s total output. In addition to iron ore, the company also operates manganese ore, aluminum ore, gold ore and other mineral products, as well as paper pulp, ports, railways and energy. Its iron ore resources Concentrated in the “four corners of iron” area and the state of Barra in northern Brazil, it owns the Tingbopebe iron ore, the Capannima iron ore, the Carajás iron ore, etc., with an iron ore reserve of about 4 billion tons, and its main minerals can be Continued mining for nearly 400 years.
Up to now, Vale is the world’s largest iron ore producer and supplier, the world’s largest nickel producer (over 250,000 tons per year), and the world’s second largest producer of manganese and manganese alloys (annual output 2.3 million tons of manganese, 500,000 tons of manganese alloys), and Rio Tinto and BHP Billiton, collectively known as the Big three global iron ore.
- On June 1, 1942, Vale was founded;
- In 1994, an office was established in China;
- In 1995, Vale’s iron ore output reached 90 million tons;
- In 1999, Vale started its manganese alloy business;
- In 2000, Vale acquired SOCOIMEX;
- In 2000, acquired all shares of Summitri Mining;
- In 2004, it started to produce copper and now has an annual output of about 250,000 tons;
- In 2006, price negotiations with Baosteel of China reached a deadlock;
- On October 24, 2006, Vale acquired 75.66% of the Canadian International Nickel Corporation at a price of US$76.90 per share, with a transaction amount of US$15.8 billion;
- In 2006, gross revenue reached US$20.4 billion;
- In 2007, it produced 295.9 million tons of iron ore;
- On May 8, 2008, Brazilian mining giant Vale invested US$1 billion to build an iron ore processing plant and distribution center in Sohar Port, Oman;
- On December 3, 2008, Vale laid off 1,300 employees worldwide, and arranged 5,500 employees for collective vacations, and another 1,200 employees received off-job training;
- On December 8, 2010, Vale issued ordinary shares and preferred stock depositary receipts in Hong Kong. The listing codes of ordinary depositary receipts and preferred depositary receipts are 6210 and 6230 respectively;
- In April 2016, Vale applied to withdraw the listing status of Hong Kong Depositary Receipts due to the low trading volume of Hong Kong Depositary Receipts.