13 July 2010 19:19 [Source: ICIS news]
SAO PAULO (ICIS news)--Brazil’s mining giant Vale started to produce phosphate at the Bayovar mine in Peru, the company said on Tuesday.
Bayovar's output will be shipped to Brazil to meet the nation's increasing demand for fertilizer, the company said.
“The Peruvian greenfield operation is Vale’s first project in the international phosphate market, helping to strengthen the company’s position as a major player in the fertilizer industry and boost supply to the Brazilian market,” Vale said.
Investments in the project could reach $566m (€447m), Vale said. The mine will have a capacity of 3.9m tonnes/year of phosphate rock,
The mine, which also includes a phosphate concentration plant, is in the northern province of Sechura, Peru. Vale said it would formally open the mine on 5 August, without providing additional details.
($1 = €0.79)
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