Replies to post #3706 on The Rising Influence of Rising Affluence

[Tuff-Stuff]

Watching again, I've been out 0f it for awhile now

[DewDiligence]

VALE renews potash lease in northern Brazil:

http://www.sec.gov/Archives/edgar/data/917851/000110465912027513/a12-9392_96k.htm

Vale S.A. announces the signature of the renewal of the leasing contract of potash assets and mining rights with Petróleo Brasileiro S.A. (Petrobras) in the state of Sergipe, Brazil, for a period of 30 years, allowing for the continuation of potash mining in Taquari-Vassouras and the development of the Carnalita project.

…Carnalita is expected to be the largest potash operation in Brazil, with an estimated nominal capacity of 1.2 million metric tons of potash per year.

VALE will remain primarily an iron-ore play, of course; however, Brazil imports the overwhelming majority of its potash, so this VALE-PBR agreeement has the strong backing of the federal government. Whether the project ends up being profitable for VALE remains to be seen.