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Report: Marubeni eyes Argentina's Rio Colorado potash project

5:33 AM MDT | June 3, 2014 | Francinia Protti-Alvarez

Marubeni is interested in taking over a potash project at Rio Colorado, Argentina that was previously being developed by Vale (Rio de Janeiro), according to a report from Argentine news source Página 12. Vale held the concession rights to develop and exploit the project but the company withdrew due to mounting costs. Vale signed an agreement just over one year ago to exit the project, after having invested $2.5 billion and completed about 40% of the project, as the investment costs escalated to an estimated $11 billion, from an initially budgeted $6...

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