Vale S.A. operates primarily through two main business segments: Iron Solutions and Energy Transition Materials. The Iron Solutions segment, which accounts for over 80% of total revenue, focuses on the extraction and production of iron ore and pellets, supported by an extensive proprietary logistics network of railways and maritime terminals in Brazil. The Energy Transition Materials segment produces nickel, copper, and by-products such as platinum group metals, gold, and cobalt, with operations spanning Brazil, Canada, and Indonesia. Originally founded as a state-owned enterprise to develop Brazil's iron ore resources, Vale was privatized in 1997 and has since grown into a global mining powerhouse. The company's competitive position is anchored by its massive, high-quality iron ore reserves in the Carajás region and its highly integrated supply chain.