美國

證券交易委員會

華盛頓特區20549

表格6-K

外國私人發行人報告

根據13a-16或15d-16條例

of the

1934年證券交易所法案

這個月

2024年10月

巴西淡水河谷公司。

Botafogo海灘186號，18樓，Botafogo。
Rio de Janeiro，RJ，巴西，22250-145

(總部辦公地址)

（請在以下方框內打勾）標示出本登記證明書是否透過 20-F 或 40-F 表格提交或將提交年度報告。

(點選一個) 20-F表格 x 40-F表單 ¨

參考文獻中的合併

本報告已納入我們和Vale境外有限公司於2023年4月25日向美國證券交易委員會提交的F-3/A表格登記申明書(編號為333-271248和333-271248-01)，以及於2023年4月13日向美國證券交易委員會提交的F-3(POSASR)表格登記申明書(編號為333-258466和333-258466-01)，自本報告交付給SEC之日起，若未被後續提交或交付的文件或報告所取代，則視為其一部分。

目 錄

內容

獨立註冊會計師事務所的報告

致股東和董事會

巴西淡水河谷公司。

中期審查結果
基本報表

我們已審核Vale S.A.及其附屬公司（以下簡稱「公司」）截至2024年9月30日的附屬綜合財務狀況基本報表，以及截至2024年9月30日三個月和九個月期間、2024年9月30日及2023年9月30日結束的相關綜合損益基本報表和綜合收益基本報表，以及截至2024年9月30日及2023年9月30日結束的相關權益變動及現金流量的綜合中期基本報表，包括相關附註（統稱為「中期基本報表」）。 根據審核意見，我們未發現應對上述中期基本報表進行實質修改以符合由國際會計準則委員會（IASB）制定的IAS 34《中期財務報告》的任何重大問題。

我們曾根據美國公開公司會計監督委員會（PCAOB）的標準，對公司截至2023年12月31日的合併資產負債表以及相關合併損益表、綜合損益表、權益變動表和現金流量表（未在此處呈現），進行過審計，在我們2024年2月22日的報告中，對這些合併基本報表表示無保留的意見。我們認為，附屬的合併資產負債表所列的資訊截至2023年12月31日，在所有重要方面，與導出該資訊的合併資產負債表相關，是誠實表述的。

審查結果的依據

這些中期基本報表，為公司管理層負責。我們是一家在美國公開上市公司審計監督委員會（PCAOB）註冊的會計師事務所，根據美國聯邦證券法和證券交易委員會及PCAOB的適用法律法規，對公司必須保持獨立。我們根據PCAOB的標準進行了審查。對中期基本報表的審查主要包括應用分析程序並就負責財務和會計事項的人進行詢問。這種審查範圍明顯比按照PCAOb標準進行的審計要少，其目的是對基本報表作為整體的意見表達。因此，我們並未發表該等意見。

2024年10月24日，里約熱內盧

/s/ 普華永道
獨立稽核師事務所有限公司。

綜合暫行收益 報表

以百萬美元計，除每股收益外

附註是這些中期基本報表的組成部分。

綜合收益財務報表合併報表

單位：百萬美元

(i) 主要與封閉運轉調整的效果有關，瓦萊阿曼配送中心和印度尼西亞瓦萊公司的累積翻譯調整金額分別爲112美元和1,063美元（見15a和15c）。

適用時，以上項目均已扣除稅款，相關稅收影響已在第7條註釋中披露。

附註是這些中期基本報表的組成部分。

綜合經營活動產生的現金流量表

單位：百萬美元

附註是這些中期基本報表的組成部分。

綜合經營活動產生的現金流量表

單位：百萬美元

附註是這些中期基本報表的組成部分。

綜合中期股東權益變動表

單位：百萬美元

(i) 非控制權益所受影響包括在Pt Vale Indonesia Tbk的非控制股東的US$1,628的去除（附註15c），以及Vale Base Metals Limited的非控制股東的US$1,514的確認（附註15d）。

附註是這些中期基本報表的組成部分。

1. 公司信息 巴西里約熱內盧的上市公司Vale S.A.（「母公司」）的普通股由股票交易所交易。

巴西里約熱內盧市總部設在公共公司瓦萊公司（"母公司"）。 瓦萊公司的股本由在股票交易所交易的普通股構成。

在巴西，淡水河谷的普通股在B3上市，代碼爲VALE3。該公司還有代表一股普通股的美國存託憑證（ADRs），在紐約證券交易所（紐交所）上市，代碼爲VALE。此外，這些股票也在LATIBEX上交易，代碼爲XVALO，這是馬德里證券交易所爲交易拉丁美洲證券而設立的非監管電子交易市場。公司的參股金融結構已在第28注中披露。

淡水河谷及其子公司（以下簡稱「淡水河谷」或「公司」）是世界上最大的鐵礦石和鎳生產商之一。該公司也生產鐵礦石球團和銅。鎳和銅濃縮物中含有白銀、鉑族金屬（PGM）、黃金、銅等副產品。該公司的大部分產品出售到國際市場，通過該公司位於瑞士的全資子公司維莎國際貿易有限公司（「VISA」）進行交易。

公司在包括巴西、美國、加拿大、智利、秘魯和印度尼西亞在內的六個國家從事綠地礦業勘查。它在巴西和其他世界地區也運營着廣泛的物流系統，包括與採礦業務相結合的鐵路、海運碼頭和港口。此外，公司設有分銷中心，以支持其全球鐵礦石運輸。

作爲其策略的一部分，淡水河谷還在能源企業中持有投資，通過可再生能源滿足其部分能源消耗需求。

公司的運營分爲兩個業務板塊："鐵礦石解決方案" 和 "能源轉型金屬"（注4）。

鐵礦石解決方案 —— 包括巴西的鐵礦石提取和鐵礦石球團生產，以及北部、南部和東南部的運輸走廊，包括與礦山作業相關的鐵路、港口和碼頭。

System（巴西帕拉州卡拉加斯）完全集成，包括三個礦業綜合體和一個海上終端。 東南系統（米納斯吉拉斯州Quadrilátero Ferrífero）是完全集成的，包括三個礦業綜合體、一條鐵路、一個海上終端和一個港口。 南方系統（米納斯吉拉斯州Quadrilátero Ferrífero）包括兩個礦業綜合體和兩個海上終端。

能源 過渡金屬期貨 – 包括鎳、銅及其副產品的生產。

2. 編制精簡的綜合中期財務報表的基礎

本公司（「公司」）的袖珍式聯合中期財務報表（「梗概財務報表」）根據國際會計準則理事會（「IASB」）發佈的IAS 34 - 梗概財務報告準則編制和呈現，僅包含梗概財務報表所需信息，該信息與公司管理層使用的信息相符且一致。

臨時財務報表已經準備好，以更新用戶有關該期間發生的相關事件和交易，並必須與截至2023年12月31日的年度財務報表一起閱讀。所有會計政策、會計估計和判斷、風險管理和計量方法與準備最新年度財務報表時採用的相同。

這些中期財務報表已於2024年10月24日董事會授權發佈。

a) 新的和修訂的標準

2024年4月，IASB發佈了 IFRS 18 -基本報表中的呈現和披露，取代了IAS 1 -基本報表的呈現。IFRS 18在損益表內引入了新的呈現要求，要求披露「管理定義的 績效指標」，幷包括對主要財務 報表以及附註的財務信息的彙總和細分的新要求。IFRS 18將於2027年1月1日或之後開始的年度報告期間生效，並且公司 目前正在評估該標準可能帶來的潛在影響。

最近已發佈了其他一些新的會計準則、修訂案和業績解讀，然而，這些尚未成爲強制性標準，或尚未對本期基本報表產生實質影響。公司尚未提前採納這些準則中的任何一項，並且預計其在未來報告期間不會產生重大影響。

b)功能貨幣和展示貨幣

公司及其聯營企業和合營企業的中期財務報表，是使用每個實體運營的主要經濟環境的貨幣（「功能貨幣」）進行衡量，對於母公司來說，這是巴西雷亞爾（「R$」）。</li><li>出於展示目的，這些中期財務報表以美元（「US$」）呈現，因爲公司認爲這是國際投資者分析財務報表的方式。

公司用於翻譯其海外業務的主要匯率如下：

3. Significant events and transaction related to third quarter of 2024

4. Information by business segment and geographic area

In 2024, consistently with the reports analyzed by the executive committee and Board of Directors, the Company changed its adjusted EBITDA definition to include the “EBITDA from associates and joint ventures”, which is a measure of their “equity results” (note 14) excluding (i) net finance costs; (ii) depreciation, depletion, and amortization; (iii) taxation and (iv) impairments.

Therefore, the Company’s adjusted EBITDA is defined as operating income or loss, including the EBITDA from interests in associates and joint ventures; and excluding (i) depreciation, depletion, and amortization; and (ii) impairment and gains (losses) on disposal of non-current assets, net and other. The comparative information in these interim financial statements was revised to reflect this change in the adjusted EBITDA definition.

Additionally, as a result of the reorganization of assets and the governance established for the Energy Transition Metals segment, the “Other” segment was reorganized for a better allocation of direct effects on the Iron Ore Solutions and Energy Transition Metals businesses. These effects were allocated to each segment starting from the nine-month period ended September 30, 2024.

a) Adjusted EBITDA

(i) Includes expenses from Vale Base Metals Limited that were not allocated to the operating segment in the amounts of US$20 and US$66 for the three and nine-month period ended September 30, 2024, respectively.

(ii) Includes adjustments of US$94 and US$243 for the three and nine-month period ended September 30, 2024, respectively (2023: US$47 and US$134, respectively), to reflect the performance of the streaming transactions at market prices.

b) Net operating revenue by shipment destination

No customer individually represented 10% or more of the Company’s revenues in the periods presented above.

c) Capital expenditures by segment

(i) According to the Company's shareholders remuneration policy, minimum remuneration to Vale shareholders is calculated based on 30% of the adjusted EBITDA less sustaining capital investments.

d) Assets by geographic area

5. Costs and expenses by nature

a) Cost of goods sold, and services rendered

b)       Selling and administrative expenses

c)       Other operating revenues (expenses), net

(i) In the nine-month period ended September 30, 2024, includes the gain from the divestment in PT Vale Indonesia Tbk (note 15a) and Vale Oman Distribution Center (note 15c) in the amounts of, respectively, US$1,059 and US$1,222, and net losses on disposal of property, plant and equipment and intangible assets in the amount of US$143 (notes 16 and 17).

6. Financial results

7. Taxes

a) Income tax reconciliation

In December 2021, the Organization for Economic Co-operation and Development (“OECD”) released the Pillar Two model rules to reform international corporate taxation. Multinational economic groups within the scope of these rules are required to calculate their effective tax rate in each country where they operate, the “GloBE effective tax rate”.

When the effective GloBE rate of any entity in the economic group, aggregated by jurisdiction where the group operates, is lower than the minimum rate defined at 15%, the multinational group must pay a supplementary amount of tax on profit, referring to the difference between its rate effective GloBE and the minimum tax rate.

From 2024, the Company is subject to OECD Pillar Two model rules in the Netherlands, Switzerland, United Kingdom, Japan, Luxembourg and Canada.

On October 3, 2024 (subsequent event), Provisional Measure No. 1,262/24 (MP) and Normative Instruction RFB No. 2,228/24 (IN) were published in Brazil to align Brazilian tax legislation with the OECD’s GloBE Rules and establish an effective minimum taxation of 15% through an additional Social Contribution on Net Profit (CSLL). The MP and the IN will come into effect from January 1, 2025, subject to a conversion of the MP into law within 120 days.

The Company does not expect material impacts on the calculation of income tax or on the financial statements for the current and future periods, notably due to the application of the simplifying rules (“Safe Harbor”) in the GloBE computation.

Income tax expense is recognized based on the estimate of the weighted average effective tax rate expected for the full year, adjusted for the tax effect of certain items that are recognized in full on the interim tax calculation. Therefore, the effective tax rate in the interim financial statements may differ from management’s estimate of the effective tax rate for the year. The reconciliation of the taxes calculated according to the nominal tax rates and the amount of taxes recorded is shown below:

b) Deferred income tax assets and liabilities

(i) Includes mainly the amount of US$312 related with the deferred income tax liability assumed due to the acquisition of Aliança Geração de Energia S.A. (note 15b).

The balance mainly relates to the settlement program of claims regarding the collection of income tax and social contribution on equity gains of foreign subsidiaries and associates from 2003 to 2012. This amount bears SELIC interest rate (Special System for Settlement and Custody) and will be paid in monthly installments until October 2028 and the impact of the SELIC over the liability is recorded under the Company’s financial results (note 6).

d) Uncertain tax positions (“UTP”)

The amount under discussion with the tax authorities is US$5,393 as of September 30, 2024 (December 31, 2023:US$5,408) which includes the reduction of tax losses in the amount of US$671 as of September 30, 2024 (December 31, 2023: US$754), if the tax authority does not accept the tax treatment adopted by the Company in relation to these matters.

(i) Includes the tax effects arising from the reduction of the tax losses and negative basis of the CSLL without fines and interest.

(ii) Includes the principal, without fines and interest.

(iii) Based on the assessment of its internal and external legal advisors, the Company believes that the tax treatment adopted for these matters will be accepted in decisions of the higher courts on last instance.

e) Recoverable and taxes payables

8. Basic and diluted earnings per share

The basic and diluted earnings per share are presented below:

9. Cash flows reconciliation

a) Cash flow from operating activities

b) Cash flow from investing activities

c) Reconciliation of debt to cash flows arising from financing activities

Funding

Payments

d) Non-cash transactions

10. Accounts receivable

Provisionally priced commodities sales – The Company is mainly exposed to iron ore and copper price risk. The determination of the final sales price for these commodities is based on the pricing period outlined in the sales contracts, typically occurring after the revenue recognition date. Consequently, the Company initially recognizes revenue using a provisional invoice. Subsequently, the receivables associated with provisionally priced products are measured at fair value through profit or loss (note 19). Any fluctuations in the value of these receivables are reflected in the Company's net operating revenue.

The sensitivity of the Company’s risk related to the final settlement of provisionally priced accounts receivables is detailed below:

11. Inventories

(i) In the nine-month period ended September 30, 2024, the effect of provision for net realizable value was US$69 (2023: US$45).

12. Suppliers and contractors

The Company has supplier finance arrangements, which do not substantially modify the original liabilities terms and conditions and remain presented as suppliers. The outstanding balance related to those transactions was US$1,519 as of September 30, 2024 (December 31, 2023: US$1,438), of which US$231 (December 31, 2023: US$221) relates to the structure introduced by the Company with the exclusive purpose of enabling small and medium suppliers to anticipate their receivables with better interest rates, in line with Company’s social pillar.

13. Other financial assets and liabilities

a) Liabilities related to the concession grant

The Company is currently discussing with the Brazilian Ministry of Transport the general conditions for Estrada de Ferro Carajás (“EFC”) and Estrada de Ferro Vitória a Minas (“EFVM”) concessions contracts, both of which are currently being fulfilled by Vale in accordance with the contracts in place.

The potential change in the agreements is still uncertain as it is subject to conclusion of the negotiations and approval by the Company and relevant authorities. Any changes to the existing obligation will be recorded after the conclusion of the negotiations and based on the final terms agreed.

Therefore, until there is any change in the existing concession contracts, the Company will continue to comply with its obligations under the agreements, which are reflected in the Company’s liability recorded in these interim financial statements.

14. Investments in associates and joint ventures