an nima traded as bm & f bovespa vale3 vale5 nyse vale vale.p euronext vale3 vale5 bmad xvalo xvalp sehk 6210 6230 idx inco industry metals and mining 1 founded 1942 ; 74 years ago 1942 headquarters rio de janeiro rj brazil area served worldwide key people murilo ferreira chief executive officer luciano siani chief financial officer 2 products iron ore iron ore pellets manganese ore ferroalloys copper nickel coal fertilizers revenue us 26.047 billion 2015 1 operating income us 6.131 billion 2015 1 net income us 17.720 billion 2015 1 total assets us 88.492 billion 2015 1 total equity us 35.704 billion 2015 1 number of employees 76 531 2014 3 website www.vale.com vale sa portuguese pronunciation vali is a brazilian multinational corporation engaged in metals and mining and one of the largest logistics operators in brazil . vale is the largest producer of iron ore and nickel in the world . vale also produces manganese ferroalloys copper bauxite potash kaolin and cobalt . the company also currently operates nine hydroelectricity plants and a large network of railroads ships and ports used to transport its products . 4 contents 1 current operations 1.1 ownership structure 1.2 mining business 1.3 logistics 1.3.1 railroads 1.3.2 ports and container terminals 1.3.3 ships 1.4 energy 1.5 rebranding 2 history 2.1 privatization in 1997 2.2 sale of wood pulp businesses 2.3 sale of steel businesses 2.4 acquisitions of brazilian iron ore companies 2.4.1 acquisition of caemi and acquisition and partial disposition of mbr 2.5 diversification into non ferrous metals coal and phosphate 3 controversies 3.1 criticism 4 references 5 bibliography 6 external links current operations edit although the company s primary operations are in brazil vale has operations in 30 countries which are detailed below and on the company s website . 5 ownership structure edit the company is listed on the stock exchanges of s o paulo new york city paris hong kong and madrid . the brazilian government owns 12 golden shares that give it control over certain actions including a liquidation or change in principal office . 4 mining business edit vale s caraj s iron mine par 2009 nasa satellite photo iron ore vale is the world s largest iron ore producer . 6 sales of iron ore fines and pellets represented 65 % of total company revenues in 2014 . in 2014 vale sold 256 million metric tonnes of iron ore fines and 44 million metric tonnes of iron ore pellets . 4 vale s mariana hub was the 9th largest iron ore mining center in the world in 2014 with an output of 39 million metric tonnes . 7 vale s serra sull s11d is the largest mining reserve in the world . the company s iron ore mines are primarily in brazil . 4 nickel vale is the world s largest nickel producer . 6 sales of nickel represented 17 % of total company revenues in 2014 . in 2014 vale sold 272 000 metric tonnes of nickel . 4 the company owns nickel mines in canada indonesia new caledonia and brazil . 4 fertilizer products primarily phosphates and nitrogen sales of fertilizer products represented 6 % of total company revenues in 2014 . in 2014 vale sold 9 million metric tonnes of fertilizer products . 4 copper sales of copper concentrate represented 4 % of total company revenues in 2014 . in 2014 vale sold 353 000 metric tonnes of copper . the company owns copper mines in brazil canada chile and zambia . 4 manganese and alloys sales of manganese and alloys represented 1 % of total company revenues in 2014 . in 2014 vale sold 2 million metric tonnes of manganese and alloys . 4 coal sales of coal represented 2 % of total company revenues in 2014 . in 2014 vale sold 7.5 million metric tonnes of coal . the company owns coal mines in australia and mozambique . 4 logistics edit railroads edit from 2000 to 2006 vale invested more than 1.3 billion on the acquisition of over 361 locomotives and around 14 090 freight cars those locomotives were primarily for iron ore transportation but some were for regular cargo . 4 some of the locomotives purchased were secondhand for refurbishment but at least 55 of the locomotives acquired were new ones of the model emd sd70m each one costing about 2 million . 8 9 after those investments vale became the owner of over 800 locomotives and more than 35 000 freight cars . 4 vale owns the concession of three brazilian railways vit ria a minas railroad efvm ferrovia centro atl ntica fca and caraj s railroad efc . ferrovia centro atl ntica and vit ria a minas railroads vit ria a minas railroad vale operates under a 30 year contract this 905 km 1 000 mm 3 ft 3 3 8 in railroad which is used to transport iron from the iron quadrangle in minas gerais to the port of tubar o in the state of esp rito santo . the concession expires in 2027 . this railroad also carried 1.1 million passengers in 2006 . caraj s railroad the concession of this 892 km 1 600 mm 5 ft 3 in gauge railroad also expires in 2027 it links caraj s iron ore mines in the state of par to ponta da madeira port terminal in the state of maranh o. vale operates a train of 3.2 km and 340 cars on this railroad . ferrovia centro atl ntica 10 vale controls this railroad through the subsidiary fca . as it is shown on the vale s operations map above this 7 000 km 1 000 mm 3 ft 3 3 8 in railroad extends through 6 brazilian states this railroad originally belonged to the rffsa . vale s concession of this railroad expires in 2026 . vale also has a stake in railway operators in mozambique and malawi . 11 ports and container terminals edit port of tubar o vale owns and operates this port located in vit ria brazil in the state of espirito santo . 12 it s the largest iron ore embarking port in the world . 13 around 80 million metric tons of iron ore 30 % of the company s annual production are shipped through this port . 4 ponta da madeira located in the state of maranh o it ships around 70 million metric tons mostly of iron ore but also of manganese and copper for the company ; it is being upgraded for the s11d project port of sepetiba vale operates two maritime terminals in the port of sepetiba area located in the state of rio de janeiro together they ship around 60 million metric tons of iron ore . teluk rubiah maritime terminal trmt a state of the art maritime terminal in the state of perak operates distribution centre for iron ore caters for asia pacific . vale also operates port terminals in the state of sergipe and two others in the state of espirito santo . ships edit vale has also entered the shipping business by ordering 35 very large ore carriers vloc to transport iron ore between south america and asia . these 362 metre 1 188 ft 400 000 dwt ships are the longest and largest dry bulk carriers in the world . the first ship vale brasil was delivered in march 2011 . 14 energy edit vale s energy business is focused at power production to fulfill the needs of its mining operations as well as supplying the general brazilian power grid . in 2005 it consumed 16.9 twh of electrical power accounting for 4.4 % of brazil s total consumption in that year . vale has participation in 8 hydroelectric plants with 7 of these located in the state of minas gerais . vale s investment in hydroelectric power plants totals 880 million . 15 the company also plans to build a 600 mw thermoeletric power plant in the state of par . 16 vale s hydroeletric power plants 15 16 name location production capacity vale s ownership vale s investment start of operations aimor s minas gerais 330 mw 51 % 141 million july 2005 candonga minas gerais 140 mw 50 % 46 million september 2004 capim branco i minas gerais 240 mw 48.42 % 90 million february 2006 capim branco ii minas gerais 210 mw 48.42 % 90 million may 2007 estreito tocantins 1 087 mw 30 % 355 million august 2009 funil minas gerais 180 mw 51 % 49 million december 2002 igarapava minas gerais 210 mw 38.15 % 88.1 million january 1999 porto estrela minas gerais 112 mw 33.33 % % 20 million september 2001 vale also operates hydroelectric plants in canada and indonesia . 4 rebranding edit in november 2007 the company retired the name cvrd in favour of simplified company name of vale and rebranded . 17 history edit founded as companhia vale do rio doce widely known as cvrd prior to 2007 in english doce river valley company was founded in itabira minas gerais by the brazilian federal government on june 1 1942 . 18 one year later the vit ria a minas railroad was inaugurated . 18 the 1950s marked companhia vale do rio doce s entry into the global iron ore market after the company s mine railroad port complex was modernized and iron ore prices doubled . at first sales were mostly to the united states but exports to europe increased over the course of the decade . 19 in 1966 the company inaugurated in espirito santo the port of tubar o which was to become the most important port for cvrd and is still used to export iron ore mined from the iron quadrangle in minas gerais . 18 the company acquired a majority interest in the caraj s mine with over 1.5 billion tonnes of iron ore in reserves in 1970 . 20 in 1974 vale became the world s biggest exporter of iron ore a title which it still holds today . 20 in 1982 vale began to diversify after it started to produce aluminium in rio de janeiro . 20 in the mid 1980s profits increased considerably under the leadership of eliezer batista father of eike batista . 21 in 1985 vale started to explore the caraj s mine in the state of par just after the 1 600 mm 5 ft 3 in gauge caraj s railroad was opened . in 1986 ponta madeira port terminal which is still used to export iron ore mined at the caraj s mine was inaugurated in the state of maranh o. 22 privatization in 1997 edit in may 1997 despite protests by vale employees and some politicians the brazilian government auctioned a 41.73 % interest in the company which was sold for r 3.34 billion us 3.13 billion . the largest interest purchased was a 16.3 % stake purchased by brazilian steel company companhia sider rgica nacional . 23 sale of wood pulp businesses edit in 2001 vale sold its cenibra wood pulp business for us 670.5 million to focus on mining and logistics . 24 in 2002 vale sold 100 000 acres of land and the eucalyptus forests thereon related to its wood pulp business for r 137 million . 25 sale of steel businesses edit in 2000 the company sold its stake in a ominas to gerdau in exchange for preferred shares in gerdau . 26 in 2001 vale sold its stake in companhia sider rgica nacional for r 520 million . 27 in 2004 vale sold its stake in cst to arcelor for us 415.1 million . 28 in 2006 vale sold its interest in siderar to ternium for us 107.5 million . 29 in 2006 the company sold 5 362 928 shares in usiminas for or r 378.6 million . 30 in 2007 the company sold the majority of its stake in usiminas . 31 in 2009 the