Rio de Janeiro — Vale S.A. said Feb. 8 that its board of directors approved the signing of a leasing contract of potash assets and mining rights with Petróleo Brasileiro S.A. for a period of 30 years, allowing for the continuation of potash mining in Taquari-Vassouras and the development of the Carnalita project, in the state of Sergipe, Brazil. Vale said the leasing contract will ensure the extension of operations at Taquari-Vassouras, the sole potash producer in Brazil and one of only two producers in South America, finalizing the development of the Carnalita potash project – still subject to approval by Vale’s board and the study and development of other areas within the concession. Vale said the contract is aligned with its growth strategy of becoming one of the leading global players in the fertilizer industry.
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