Vale, Petrobras Said to Reach Gas-Supply Deal for Potash Mine in Brazil

Bloomberg reported that Vale SA (EPA:VALE3) has reached a gas supply agreement so it may advance a potash mine in Brazil.

The market news is quoted as saying:

Rio de Janeiro-based Vale is seeking to boost output of potash and phosphate rock to meet rising demand for crop nutrients in Brazil, the world’s biggest grower of sugar cane, coffee and oranges. The company acquired assets worth about $5.8 billion for its fertilizer unit last year.

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