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Regions :: South America :: Argentina

Vale suspends Rio Colorado potash project (updated)

10:00 AM MDT | March 12, 2013 | Francinia Protti-Alvarez

Vale said Monday that it had informed the Argentinean government that is suspending work on a potash project at Rio Colorado, Argentina. The company says that the project is not “in line with Vale's commitment to discipline in capital allocation and value creation” in the current macroeconomic environment. Vale says it is evaluating alternatives to improve the economics of the project, and could reevaluate the decision. A report from Brazilian newspaper Folha de S. Paulo said earlier Monday that Vale was considering abandoning the Rio...

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