2.2.0.7 false Basis of presentation 0203 - Disclosure - Basis of presentation true false false false 1 USD false false USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USDEPS Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 $ 2 Basis of presentation [Abstract] 0 vale_BasisOfPresentationAbstract vale false na duration Basis of presentation. false false false false false true false false false false false false 1 false false false false 0 0 false false false xbrli:stringItemType string Basis of presentation. false 3 Basis of presentation 1 vale_BasisOfPresentationTextBlock vale false na duration Basis of Presentation Text Block. false false false false false false false false false false false verboselabel false 1 false false false false 0 0   <div align="left" style="font-family: Helvetica,Arial,sans-serif"> <div align="left" style="font-size: 10pt; margin-top: 12pt"><b>3 Basis of presentation</b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Our condensed consolidated interim financial information for the three-month periods ended June 30, 2010, March 31, 2010 and June 30, 2009 and for the six-month periods ended June 30, 2010 and 2009, prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”), are unaudited. However, in our opinion, such condensed consolidated interim financial information includes all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results for interim periods. The results of operations for the three-month and six-month periods ended June 30, 2010, are not necessarily indicative of the actual results expected for the full fiscal year ending December 31, 2010. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">This condensed consolidated interim financial information should be read in conjunction with our audited consolidated financial statements as of and for the year ended December 31, 2009, prepared in accordance with US GAAP. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">In preparing the condensed consolidated financial information, we are required to use estimates to account for certain assets, liabilities, revenues and expenses. Our condensed consolidated financial statements therefore include various estimates concerning the selection of useful lives of property, plant and equipment, impairment, provisions necessary for contingent liabilities, fair values assigned to assets and liabilities acquired and assumed in business combinations, income tax uncertainties, employee post-retirement benefits and other similar evaluations. Actual results may vary from our estimates. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Since December 2007, significant modifications have been made to the accounting practices adopted in Brazil (“Brazilian GAAP”) as part of a convergence project with International Financial Reporting Standards (IFRS). The convergence project is expected to be completed by the end of 2010 and therefore our annual consolidated financial statements for 2010 prepared under Brazilian GAAP will be IFRS compliant. The Company does not expect to discontinue the US GAAP reporting during 2010. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The Brazilian real is the parent Company’s functional currency. We have selected the US dollar as our reporting currency. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">All assets and liabilities have been translated to US dollars at the closing exchange rate at each balance sheet date (or, if unavailable, the first available exchange rate). All statement of income accounts have been translated to US dollars at the average exchange rates prevailing during the respective periods. Capital accounts are recorded at historical exchange rates. Translation gains and losses are recorded in the Cumulative Translation Adjustments account (“CTA”) in stockholders’ equity. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The results of operations and financial position of our entities that have a functional currency other than the US dollar, have been translated into US dollars and adjustments to translate those statements into US dollars are recorded in the CTA in stockholders’ equity. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The exchange rates used to translate the assets and liabilities of the Brazilian operations at June 30, 2010 and December 31, 2009, were R$1.8015 and R$1.7412, respectively. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The Company has assessed subsequent events through July 29, 2010 which is the date the financial statements were issued. </div> </div>  <!-- Begin Block Tagged Note false false false us-types:textBlockItemType textblock Basis of Presentation Text Block. 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