The Company and its operations

12 Months Ended

Dec. 31, 2012

The Company and its operations

The Company and its operations

1    The Company and its operations

          Vale S.A., ("Vale", "Company" or "we") is a limited liability company incorporated in Brazil. Operations are carried out through Vale and our subsidiary companies, joint ventures and affiliates, and mainly consist of mining, base metals production, fertilizers, logistics and steel activities.

          Our principal consolidated operating subsidiaries at December 31, 2012 are the following:

Subsidiaries	% ownership		% voting capital		Location	Principal activity
Compañia Minera Miski Mayo S.A.C.		40.00		51.00	Peru	Fertilizer
Ferrovia Centro-Atlântica S.A.		99.99		99.99	Brazil	Logistics
Ferrovia Norte Sul S.A.		100.00		100.00	Brazil	Logistics
Mineração Corumbaense Reunida S.A.		100.00		100.00	Brazil	Iron Ore and Manganese
PT Vale Indonesia Tbk		59.20		59.20	Indonesia	Nickel
Sociedad Contractual Minera Tres Valles		90.00		90.00	Chile	Copper
Vale Australia Pty Ltd.		100.00		100.00	Australia	Coal
Vale Canada Limited		100.00		100.00	Canada	Nickel
Vale Fertilizantes S.A.		100.00		100.00	Brazil	Fertilizer
Vale International Holdings GMBH		100.00		100.00	Austria	Holding and Exploration
Vale International S.A.		100.00		100.00	Switzerland	Trading
Vale Manganês S.A.		100.00		100.00	Brazil	Manganese and Ferroalloys
Vale Mina do Azul S.A.		100.00		100.00	Brazil	Manganese
Vale Moçambique S.A.		95.00		95.00	Mozambique	Coal
Vale Nouvelle-Calédonie SAS		80.50		80.50	New Caledonia	Nickel
Vale Oman Pelletizing Company LLC		70.00		70.00	Oman	Pellets
Vale Shipping Holding PTE Ltd.		100.00		100.00	Singapore	Logistics