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.
Mineweb reported that Vale decided to go ahead with the $6 billion Rio Colorado potash project in Argentina, to feed the fertilizer hungry Brazilian markets, despite fears that the massive scale of the project will negatively impact smaller scale projects in the region.
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