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6 Mar 2020


Vale's Response

Vale has publicly declared its support for the EITI in its sustainability reports and reiterates its commitment annually. Since 2014, Vale has directly endorsed this voluntary initiative that promotes transparency in financial flows between extractive organizations and the governments of countries in which they operate. The company participates in the multi-stakeholder group in Mozambique and Indonesia (through the membership to the Indonesian Mining Association)... Vale is not opposed to the SEC adopting this definition in its final rule. Nevertheless, Vale does not consider the adoption of this definition to be a condition to practice the transparency standards of the EITI. Regardless of the SEC decision, Vale is focused on being more transparent in its disclosure of tax transparency reports.