The Rising Influence of Rising Affluence

[DewDiligence]

VALE is “reevaluating” its potash project in Argentina in light of the recent YPF expropriation; the project previously run-ins with the local government, but now it’s hard to see why VALE would want to go forward under any circumstances:

http://www.reuters.com/article/2012/04/26/vale-idUSL2E8FQ4JU20120426

[CEO Murillo] Ferreira said Vale is also "reevaluating its Rio Colorado project in Argentina over inflation fears and political risks."

The concession for the $4.6 billion Rio Colorado potash project was suspended in the middle of 2011 when the provincial government of Mendoza accused Vale of failing to comply with local labor laws.