- Liebherr Ships Heavy-Lift Crane to Poland
- Jacobs Wins Engineering Contract for Scottish Rubber Plant
- Dockwise Delivers Deepwater Lucius Spar
- Volga-Dnepr AN-124 Transports Dreamliner Wings
- Togo Added to High-Risk West African Areas
- Marubeni to Build Power Plant in Romania
- Thailand Eyes Dawei Mega-Project in Myanmar
- BBC Chartering Moves Tall Ship Theater
- Indian Navy Seeks Drones to Fight Piracy
- Siemens Supplies Substations to SEWA
Vale to Reopen Potash Mine
Mining giant Vale SA and Argentina’s government have reached an agreement that will allow a large potash mine to reopen.
Last December, Vale shut down the mine on the Colorado River in the province of Mendoza and began looking for a multinational partner, according to reports from Argentine newspaper Los Andes.
Since then, Argentine government officials have agreed to give Vale more tax concessions and better exchange rates. In return, Vale has agreed to invest an additional BRL11.8 billion (US$6 billion) to build a railroad and a maritime terminal.
Vale has invested BRL5.1 billion (US$2.6 billion) in the project since purchasing it in 2009, according to an international wire service.
Argentine Foreign Minister Hector Timerman said both parties want to resurrect the project, and the government wants Vale to continue doing business in Argentina.
Related Articles
