Vale S.A. (Vale) is a metals and mining company. The Company is also a producer of iron ore and iron ore pellets, and nickel. The Company also produces manganese ore, ferroalloys, metallurgical and thermal coal, copper, platinum group metals (PGMs), gold, silver, cobalt, potash, phosphates and other fertilizer nutrients. The Company operates through four business segments: Bulk Material, Base metals, Fertilizers and Other. The Bulk Material segment includes the production and extraction of ferrous minerals, and the extraction of coal and its logistic services (railroads, ports and terminals). The Base metals segment produces and extracts non-ferrous minerals. The Fertilizers segment produces three groups of nutrients, such as potash, phosphate and nitrogen. The Other segment includes sales and expenses of other products, services and investments in joint ventures and associate in other businesses.