Muscat, January 28th 2015

Committed to the development of local entrepreneurs and Small and Medium Enterprises (SMEs), Vale in Oman participated in the Symposium to Assess the Implementation of Seih Al Shamikhat's Decisions, organized by the Public Authority for SME Development (Riyada). Vale's senior management shared their years of experience and global expertise to contribute in SME growth across key sectors, as well as exhibited potential long-term partnership opportunities to entrepreneurs within its US$ 2 billion Industrial Complex in Liwa.

Sergio Espeschit, Chief Executive Officer of Vale in Oman said, "We have the ability to impact people's lives positively and therefore have the responsibility to be the change we want to see happen. Our aim, since establishing our business in Oman, has always been to empower the communities where we operate by forging sustainable partnerships with local suppliers, and contribute to the supply chain development in an effort to support future industry requirements. We have therefore put in place a threefold growth strategy that revolves around encouraging entrepreneurship and building the capacity of local talent thereby stimulating SME development."

He added, "With studies indicating that SMEs account for 90% of all firms in Oman and up to 20% of the Gross Domestic Product, we firmly believe in the sector's ability to be a key driver for the nation's prosperity and have therefore allocated more than 22% of the value of annual services in 2014 to SMEs. Not only have our contracts with SMEs created new revenue streams and supported the nation's economic and human capital goals in line with His Majesty's Royal Directives, but also enabled aspiring young Omanis to gain valuable insight and experience in the industry."

The company's commitment to the development of SMEs is evident across its operations as it prioritizes local employment for services including business and IT consultancy as well as photography, catering, landscape, logistics and storage services. Vale's vessel-related operations at Sohar Port create additional avenues for partnerships by helping secondary and tertiary industries in Oman enter international markets. The amount of money generated during a single shipment at the Port - where iron ore is unloaded and the ship is prepared for its return to Brazil - is US$ 3.3 million; most of which is awarded to local businesses for services including port services, shipping agency and handling services, bunker fuel, engine cylinder oil and consumable store supply replenishment.

Aligned with the nation's long term goals and in preparation for the future, the company works together with local communities and authorities to identify investment opportunities that develop both people and businesses.

-Ends-

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About Vale
With operations, commercial and exploration offices, projects and joint ventures spread across five continents, Vale is one of the biggest mining companies in the world. It operates in more than 30 countries and employs more than 212,400 people (including contractors) across the world. We are leaders in the production of iron ore and pellets, key raw materials for the steel industry and the second largest producers of nickel worldwide. Our portfolio also includes coal, copper, fertilizers, manganese and ferroalloys among other natural minerals. In addition, we operate in the logistics and energy sectors.

Vale set up its Middle East office in Oman in December 2007 with an aim to expand its presence in key regional markets. The company broke ground for the construction of its Industrial Complex in Liwa in March 2009 comprising of a pelletizing plant with a capacity of 9 million metric tons per year and a distribution center with a through-put capacity of 40 million metric tons. Final investment in the project amounted to US$ 2 billion and the complex was inaugurated in March 2012.

For more information, please contact:
Shaza Taher
Associate Media Relations Director
TRACCS Oman
Telephone: +968 24 649-099
Email: shaza.taher@traccs.net
Or visit: www.vale.com/oman

© Press Release 2015