Brazilian mining heavyweight Vale has come to an agreement with the Argentine government to drop its Rio Colorado potash project.
Articles Tagged "NYSE:VALE"
Project costs, labor disputes and concerns regarding "national interest" are front and center in the potash market as companies reassess opportunities.
Brazil's Vale SA (NYSE:VALE), mothballed its $5.9-billion Argentina-based Rio Colorado potash venture after suspending work at the project in January.
Bloomberg reported that Vale SA (NYSE:VALE) has been denied the $2-billion tax break that it requested from the Argentinian government after costs for its Rio Colorado potash project rose to unanticipated levels.
With potash contract prices dropping to the lowest level seen in years, the potash sector does not appear ready to rebound just yet.
Vale SA (NYSE:VALE), a Brazilian mining company, announced that it will postpone projects int he conceptual phase due to the economic climate.
MercoPress reported that Vale (NYSE:VALE) is reassessing its Brazil potash project but is confident it will overcome political obstacles.
Reuters reported that Vale (NYSE:VALE) said it is still positive about moving forward on its Rio Colorado potash project.
CBC News reported that residents of Kronau Saskatchewan are debating over the economic and environmental impacts of a new potash project.
Global Regina reported that Vale (NYSE:VALE) is proposing to build a potash mine near White City, Saskatchewan.