Vale SA, a leading mining company, has announced a significant commercial transaction with its related party, Mitsui & Co., Ltd, which holds a substantial influence in Vale. The deal, which was communicated on May 20, 2024, involves the sale of iron ore by Vale International SA (VISA), a company controlled by Vale, to Mitsui. The contract, valued at approximately $86 million, commenced on May 1, 2024, and will extend until March 31, 2025. It includes the sale of 550,000 wet metric tons of iron ore, with an option to increase the volume by 250,000 WMT during the contract term. Vale's management has justified the transaction stating that it adheres to market conditions and follows Vale's commercial policies, which are consistently applied to both related and unrelated parties. The Board of Directors, excluding any member with a conflict of interest, has approved the transaction in accordance with the company's Related Party Transactions Policy.

Vale SA, a leading mining company, has announced a significant commercial transaction with its related party, Mitsui & Co., Ltd, which holds a substantial influence in Vale. The deal, which was communicated on May 20, 2024, involves the sale of iron ore by Vale International SA (VISA), a company controlled by Vale, to Mitsui. The contract, valued at approximately $86 million, commenced on May 1, 2024, and will extend until March 31, 2025. It includes the sale of 550,000 wet metric tons of iron ore, with an option to increase the volume by 250,000 WMT during the contract term. Vale's management has justified the transaction stating that it adheres to market conditions and follows Vale's commercial policies, which are consistently applied to both related and unrelated parties. The Board of Directors, excluding any member with a conflict of interest, has approved the transaction in accordance with the company's Related Party Transactions Policy.