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Vale Postpones $3-Billion Potash Project Planned for Saskatchewan

8:31 AM MDT | August 20, 2012 | Kara Sissell

Brazilian mining giant Vale (Rio de Janeiro) says it will delay plans for a $3-billion potash project that was planned for Saskatchewan, Canada, according to local press reports. Vale announced the 2.9 million-m.t./year project in 2010 as part of a larger $10-billion plan for investing in Canada. However, “challenging economic times” and the need to streamline investment plans have caused Vale to put the project on hold, Vale CEO Murilo Ferreira told reporters in Rio de Janeiro. The company did not give a revised timeline for the mine, which will be...

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