Exhibit  15.8


Securities and Exchange Commission
450 Fifth Street, NW
Washington, D.C. 20549


Commissioners:


We are aware that our report dated October 19, 2001 on our review of interim
financial information of Companhia Hispano-Brasileira de
Pelotizacao-HISPANOBRAS, translated into US Dollars, as of September 30, 2001
and 2000, and for the nine-month period then ended, prepared in conformity with
generally accepted principles in the United States, is included in the
Registration Statement on Form F-4 filed on March 21, 2002 by Vale Overseas
Limited and Companhia Vale do Rio Doce.


Yours very truly,


/s/ Arthur Andersen S/C
ARTHUR ANDERSEN S/C



Rio de Janeiro, Brazil
March 21, 2002