Vale S.A. : Vale S.A. : Vale to conclude purchase option of Belvedere, exercised in 2010, after independent valuation

    Vale S.A. : Vale S.A. : Vale to conclude purchase option of Belvedere,
                exercised in 2010, after independent valuation

Rio de  Janeiro, January  31, 2013  - Vale  S.A. (Vale)  informs that  it  has 
entered into agreements  to complete a  purchase option exercised  by Vale  in 
June 2010, by which it will acquire an additional 24.5% stake in the Belvedere
coal project (Belvedere) from Aquila Resources Limited (Aquila). The  purchase 
price of A$ 150 million (US$ 156 million using AUD/USD of 1.04) is  equivalent 
to the fair market value recently  determined by a third party expert  engaged 
by Vale and Aquila.

The acquisition is subject to  Queensland Government indicative approvals.  As 
an outcome  of  this transaction,  Vale  will increase  its  participation  in 
Belvedere to  100%.  Vale  also  agreed to  settle  Belvedere  litigation  and 
disputes with Aquila for A$ 20 million (US$ 21 million).

Overall, Vale  will  have paid  approximately  US$  338 million  for  100%  of 
Belvedere. The Belvedere underground  coal project is  a future growth  option 
located in the southern  Bowen Basin region,  near the city  of Moura, in  the 
state of  Queensland,  Australia. The  project  is  still in  early  stage  of 
development  and,  consequently,  its  implementation  is  subject  to   Board 
approval. According to our preliminary estimates, Belvedere has the  potential 
to reach a  production capacity  up to  7.0 million  metric tons  per year  of 
mainly coking coal.

                                      For further information, please contact:


                     Roberto Castello Branco:

                                 Viktor Moszkowicz:

                                    Carla Albano Miller:

                                         Andrea Gutman:

                         Christian Perlingiere:

                                      Marcelo Correa:

                                    Marcio Loures Penna:

                                 Rafael Rondinelli:

                                         Samantha Pons:


This press release  may include  statements that  present Vale's  expectations 
about future events or results.  All statements, when based upon  expectations 
about the  future and  not  on historical  facts,  involve various  risks  and 
uncertainties. Vale cannot guarantee that such statements will prove  correct. 
These risks and uncertainties  include factors related  to the following:  (a) 
the countries where we operate, especially  Brazil and Canada; (b) the  global 
economy; (c) the capital markets; (d)  the mining and metals prices and  their 
dependence on global industrial production,  which is cyclical by nature;  and 
(e) global  competition in  the  markets in  which  Vale operates.  To  obtain 
further information on factors that may  lead to results different from  those 
forecast by  Vale,  please  consult  the reports  Vale  files  with  the  U.S. 
Securities and Exchange  Commission (SEC), the  Brazilian Comissão de  Valores 
Mobiliários (CVM), the French Autorité  des Marchés Financiers (AMF), and  The 
Stock Exchange of Hong Kong Limited,  and in particular the factors  discussed 
under "Forward-Looking Statements" and "Risk Factors" in Vale's annual  report 
on Form 20-F.

Vale to conclude purchase option of Belvedere


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information contained therein.

Source: Vale S.A. via Thomson Reuters ONE
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