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Corruption is a crime and fighting this illegal practice is still a global challenge. International Anti-Corruption Day is held every year on December 9 to raise awareness of the importance of fighting corruption as part of efforts to build a build a fairer and more equal society.

We spoke to some of our leaders about our company’s anti-corruption commitment. Read on to see what we have been doing about this issue. 

How is the commitment to fighting corruption linked to our company’s strategy?

This connection starts when we think about what is behind our strategy. We want to build a better Vale. We want to be a leader in creating and sharing value, not only with our investors but the whole of society. All this requires us to take responsibility in the fight against corruption. Our commitment to fighting corruption is part of our ethical principles and also our ESG [environmental, social and governance] agenda. Through more and more transparency and solid governance, we are contributing to this global agenda, which matters to each of us as citizens.”

José Luciano Duarte Penido
Vale's Chairman

Does fighting corruption also mean putting our purpose into practice?

Without a doubt. How are we going to transform the future if we don’t fight a crime that diverts resources that could otherwise be used to improve the health, safety and education of our society? This is our basic commitment and it cannot be otherwise. When we act with integrity, we cannot tolerate any unfair way of doing business. At our company, there is no room for any kind of corruption or bribery. This depends on each one of us, starting with leaders, who must set an example. We must always put ethics, our values and our purpose into practice in every decision we make.” 

Eduardo Bartolomeo
Vale's CEO

In 2022, we saw many cases of corruption, some involving companies in the mining sector. How is our company evolving in managing this risk?

Fighting corruption is one of the challenges that guides our Ethics & Compliance Program. Since the program was launched in March 2021, we have made significant progress in managing the risk of corruption. We have implemented new controls and tests and we are automating some deviation detection processes. All of this is about compliance, enforcing the rules. However, we believe there is something bigger than that: ethics. Fighting corruption depends on the individual behavior of everyone who makes up Vale. That is why we are also investing in communication actions and training on this topic, such as the Anti-Corruption Course that we launched this year during Ethics Week. We need to be trained and aligned with the values of our company. That is how we will make decisions ethically and responsibly to fight against corruption.”

Denis Cuenca
Vale’s Chief Audit and Compliance Officer
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