Long-term debt (Tables)

3 Months Ended

Mar. 31, 2011

Long-term debt (Tables) [Abstract]

Long-term debt

	Current liabilities				Non-current liabilities
	March 31,		December 31,		March 31,		December 31,
	2011		2010		2011		2010
	(unaudited)				(unaudited)
Foreign debt
Loans and financing denominated in the following currencies:
US dollars		1,078		2,384		2,580		2,530
Others		22		18		278		217
Fixed Rate Notes
US dollars		—		—		10,236		10,242
EUR		—		—		1,055		1,003
Perpetual notes		—		—		78		78
Accrued charges		189		233		—		—
		1,289		2,635		14,227		14,070
Brazilian debt
Brazilian reais indexed to Long-term Interest Rate — TJLP/CDI		86				3,991
Brazilian reais indexed to General Price Index-Market (IGP-M)		—		76		—		3,891
Basket of currencies		5		1		142		125
Non-convertible debentures		—		—		2,844		2,767
US dollars denominated		3		1		823		738
Accrued charges		175		110		—		—
		269		188		7,800		7,521
Total		1,558		2,823		22,027		21,591

Maturities of Long-term Debt

The long-term portion at March 31, 2011 was as follows (Unaudited):

2012	1,023
2013	3,382
2014	1,085
2015	771
2016	15,299
No due date	467
	22,027

Annual interest rates on long-term debt

At March 31, 2011 annual interest rates on long-term debt were as follows (Unaudited):

Up to 3%	4,514
3.1% to 5% (*)	2,213
5.1% to 7%	8,697
7.1% to 9% (**)	3,484
9.1% to 11% (**)	151
Over 11% (**)	4,446
Variable	80
	23,585

Non-convertible debentures in Brazilian Reais denominated

Vale has non-convertible debentures at Brazilian Real denominated as follows:

							Balance
							March 31,
	Quantity as of March 31, 2011						2011		December 31,
Non Convertible Debentures	Issued		Outstanding		Maturity	Interest	(Unaudited)		2010
2nd Series		150,000		150,000	November 20, 2010	101.75% CDI		2,553		2,429
Tranche “B”		400,000		400,000	November 20, 2013	100% CDI + 0.25%		388		367
								2,941		2,796
Long-term portion								2,844		2,767
Accrued chages								97		29
								2,941		2,796

Indexation rates applied to debt

The indexation indices/ rates applied to our debt were as follows:

	Three-month period ended (unaudited)
	March			December		March
	31, 2011			31, 2010		31, 2010
TJLP — Long-Term Interest Rate (effective rate)		(4.5	)		1.5		1.5
IGP-M — General Price Index — Market		2.4			3.2		2.8
Appreciation (devaluation) of Real against US dollar		2.3			1.7		(2.2	)