Vale to build world's largest potash mine in Argentina – ministry

06 December 2011 16:42  [Source: ICIS news]

(recast headline and lead, attribute statements to Argentine ministry)

HOUSTON (ICIS)--Vale was not immediately available for comment on Tuesday regarding a plan to build what a ministry called the world's largest potash mine in Argentina, which is valued at Argentine pesos (Ps) 25.5bn ($6.0bn, 4.5bn).

The mine will be in Malargue, Mendoza, according to the Argentine federal ministry of planning, public investment and services. Construction should last 30 months.

The ministry did not release the capacity of the mine. However, the company said it should have a life of 80 years.

The project should make Argentina the third largest potash exporter in the world and fifth largest potash producer, the ministry said.

($1 = €0.75)
($1 = Ps4.28)

By: Al Greenwood
+1 713 525 2645

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