“Shareholders denounce Vale’s irresponsible social, environmental and management policies at Annual General Meeting”, 24 May 2016

On April 25, eight critical investors,...of the International Articulation of People Affected by Vale..., participated for the 6th consecutive year in the Vale Annual General Meeting in Rio de Janeiro...to point out the contradictions between the company’s discourse on social and environmental responsibility and the occurrence of serious environmental damages and human rights violations...[in its]...projects...[And]...expose the negative consequences of these violations for the...corporate image...and...its shareholders. One of the cases...discussed...was the Samarco mining company’s criminal denial of responsibility. Questioned about its report on the tailings dam breach in Mariana,...company officials indicated that the document was not yet completed...Meanwhile, Vale has already entered the licensing process for three more dams in Minas Gerais, all using the same technology used in the Mariana...dam... Another point raised...was the ambiguity in the company’s declaration in its Administrative and Financial Report that the disaster in Mariana had had no impact on the financial flows of the company...[S]hareholders were in danger of being hoodwinked by the affirmation in the Vale Administrative and Financial Report that a definitive agreement had been signed between Samarco, Vale, BHP and the Brazilian state concerning compensation for the victims...[But]...the agreement is still subject to approval by...[a]...judge...in Minas Gerais...[T]he group...presented a motion calling for all the members of the Vale Executive Board, Administrative Council and Auditing Council who held these positions on...the date of the breach of the...dam...to step down...