#Canada #Toronto #Vale Base Metals #Mark Cutifani #Gustavo Pimenta

Vale Base Metals Announces Board Leadership Transition

Vale Base Metals, a prominent name in the global mining industry, has announced pivotal changes within its Board of Directors as part of its ongoing strategic evolution. On June 25, 2025, the company confirmed that Mark Cutifani will be stepping down from his role as Chairman of the Board of Vale Base Metals Limited. Cutifani’s decision comes as he prepares to focus on new professional ventures.

A Legacy of Leadership

As the inaugural Chairman of Vale Base Metals, Cutifani has been instrumental in facilitating the separation from Vale S.A., steering the company through an essential transition period. His strategic vision and extensive industry expertise played a crucial role in setting the groundwork for VBM’s rapid growth post-split, ensuring long-term value creation.

Cutifani’s contributions were not only significant but foundational in crafting a clear strategic roadmap, optimizing VBM’s asset portfolio, and establishing a robust leadership team. His leadership also fostered meaningful partnerships, such as the strategic collaboration with Manara Minerals in July 2023.

Mark Cutifani expressed gratitude towards his colleagues at Vale and acknowledged the trust that Vale and his team placed in him during this transformative phase. He is particularly thankful to Shaun Usmar, the CEO of VBM, for their collaborative journey and the exciting future they are building together.

New Leadership Takes the Helm

With the upcoming transition, Gustavo Pimenta, currently the CEO of Vale S.A., will take over the role of Chairman at VBM. Pimenta’s deep understanding of the company and the broader metal sector is set to provide continuity and alignment with the strategic objectives of Vale S.A., especially in the context of the energy transition. His appointment is seen as a steward for VBM’s goals in sustainable mining practices and critical mineral production.

Shaun Usmar also commented positively about Cutifani’s leadership, highlighting his mentorship and extensive knowledge, which has been invaluable in shaping VBM's transformational strategy. Usmar expressed his best wishes for Cutifani’s future endeavors while looking forward to collaborating closely with Pimenta.

Transition Timeline

The leadership transition is scheduled to take place in July, marking a new chapter for Vale Base Metals as it continues to position itself as a leader in the critical minerals sector. VBM aims to uphold its commitment to responsible mining practices while actively contributing to the global shift towards sustainable energy solutions.

About Vale Base Metals

Vale Base Metals is a major sector of Vale S.A. dedicated to supporting the global energy transition through responsible production of high-quality nickel, copper, and cobalt. Headquartered in Toronto, Canada, Vale Base Metals operates across several regions, including Newfoundland and Labrador, Ontario, Manitoba, Indonesia, Brazil, the UK, and Japan.

As VBM prepares for this leadership transition, the company remains committed to innovation and sustainability as cornerstones of its operational practices.