Brazil wants Vale’s next CEO to be closer to the government

“This will be a step forward and we will demand it strongly,” Silveira said.

Vale’s board expects to announce a new CEO on December 3, when the company holds its investor day.

In March, Vale announced that Eduardo Bartolomeo would retain the top job while the company began looking for a successor. The outcome followed weeks of drama over the selection of Vale’s next leader, amid mounting pressure from Brazil’s government to intervene in the succession process, spotlighting its influence in the mining sector.

The market has recognized Bartolomeo’s leadership in safety, including a plan to eliminate dozens of high-risk tailings dams. Still, investors are concerned about operating performance and the perception that Vale could better manage relations with states and the federal government.

Silveira criticized the delay in Vale’s succession plan, saying the sooner a change in management takes place, the better the mining company will be able to resolve “pending issues with Brazil.” In the interview, he also indicated that the Brazilian government would reject a new proposal from Vale, BHP Group and its joint venture Samarco for a final settlement regarding the deadly 2015 dam collapse. The General Office of the Brazilian Lawyer confirmed this in a statement.

Brazil’s energy chief is in Rome, where he held a private meeting with Pope Francis on Friday to “discuss a fair and inclusive energy transition that helps fight inequality.” Brazil took over leadership of the Group of 20 in 2024 and will host the COP30 climate summit in 2025.