Companhia Vale do Rio Doce

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Companhia Vale do Rio Doce

Type	Private (NYSE: RIO)
Founded	1942
Headquarters	Brazil
Key people	Roger Agnelli, CEO Fabio Barbosa, CFO
Industry	Mining, Logistics, Energy, Steel
Products	Iron Ore, Pellets, Copper, Manganese, Ferro-Alloys, Potassium, Kaolin, Nickel, Coal, Aluminum, Logistics Optimization & Information, Railway Transport, Coastal Navigation, Port Operations, Storage and Custom Services, Feeder
Revenue	$14.54 billion USD (2005)
Website	www.cvrd.com.br

Companhia Vale do Rio Doce (CVRD) is a global diversified mining company and is also the largest logistics operator in Brazil. Founded in 1942 in Itabira,as a Public Company, it became the leader in production and exportation of iron ore and pellets (in a process called pelletizing) and is also a world-class producer of nickel, manganese, ferroalloys, copper concentrate, bauxite, potash, kaolin, alumina and aluminum.

Few years ago, the company passed by a Privatization Process, that had already concluded.

Besides being the largest Brazilian logistics services provider, CVRD is recognized for its excellence in the elaboration of complete logistic solutions for national and foreign customers, integrating many Company-owned assets, such as railroads, ports and maritime terminals with partner’s assets and also offering coastal sea route delivery services. In the electric energy sector, the Company participates in consortiums, presently operating four hydroelectric plants to assure the power supply for CVRD operational activities.

Companhia Vale do Rio Doce is present on five continents. Some goals of the Company are to foster sustainable development in Brazil, contribute to the expansion of exports, and foment the development of various national industries. CVRD’s main goal is to search for new opportunities that are in line with the Company’s strategic growth policy, guaranteeing new business for the future and greater financial returns for its shareholders.

CVRD is purchasing 27 new EMD SD70M locomotives for import from the United States to Brazil. CVRD's purchase will constitute the first use of this locomotive model in South America. Due to the railroad's 1600 mm (5 ft 3 in) rail gauge, EMD had to design a new wider bogie for the locomotives.^[1]

As of August 14, 2006, CVRD will reportedly extend an all-cash offer to purchase Canadian mining company Inco Ltd. CVRD is currently involved in a "bidding war" to attain majority ownership of Inco. That deal was approved in principle by the Canadian government's investment review board on October 19, and accepted by Inco shareholders on October 23. CVRD has indicated that it will keep Inco open as its nickel mining division, with its head office to remain in Canada; the Inco division will also assume responsibility for CVRD's existing nickel mining projects in Brazil.

The group's controversial subsidiary Inco has been defeated on several occasions in the courts by indigenous defence group Rheebu Nuu over environmental damage at Goro in the French colony of New Caledonia.