Minister says the government “has sense” not to impose Mantega on Vale

Minister Alexandre Silveira, of Mines and Energy (MME), said this Thursday (18) that the government “has sense” not to impose the appointment of former minister Guido Mantega to the board of directors of the mining company Vale, which was once state owned and privatized for 26 years.

Silveira, however, stated that the government’s participation in the succession of the company’s presidency is legitimate and that the Executive is involved in the discussions. President Luiz Inácio Lula da Silva (PT) himself has been working on the negotiations.

If the appointment is made, Mantega could earn a salary of approximately R$100,000 per month, with an ordinary monthly meeting and participation in two internal committees, as revealed by the Estadão.

“We will not do anything that could disrespect the company’s governance. We don’t do this with Petrobras, where we are controlling. But we are going to participate in the discussion about the largest mining company in the country, and we want it to return to its position as the largest in the world”, stated the minister during the World Economic Forum in Davos, Switzerland.

Among the negotiations carried out by Lula is the possibility of accommodating his former ally with the current president, Eduardo Bartolomeo, remaining in charge. Silveira highlighted that the government does not impose the choice and seeks a decision that benefits the company.

Last week, when the information came to light, the People’s Gazette asked the mining company and the government for a position. Vale informed that it will not comment on the negotiation and the Presidency of the Republic did not respond to the report.

Silveira highlighted that the PT member was the “longest serving minister” in the Treasury and criticized the discrimination of names due to public life. “It is someone who is disqualified from occupying a prominent position in a corporation? In my opinion, no. Is there a government requirement for him to occupy a position at Vale? No, peremptorily, no. The government has judgment and responsibility towards the country”, stated the minister.

The end of Bartolomeo’s term triggered the search for a replacement. In addition to Mantega, the name of Luis Henrique Guimarães is being considered, linked to businessman Rubens Ometto Silveira Mello, president of Cosan, one of the shareholders. The Previ pension fund and the companies BlackRock, Mitsui and Bradespar also hold shares in Vale.

Regarding the choice of the next president, Silveira emphasized that there is no decision and that the names need to be “qualified”, subject to the approval of the council. The minister, critical of the privatization of Eletrobras, compared the state-owned company to Vale, highlighting the strategic importance of the latter in the country’s economic and social scenario.