Melbourne-Mining giant Rio Tinto recently outlined its potash assets in Argentina and Canada, saying its Potasio Rio Colorado project in Argentina could start production in 2012. The company expects to spend $242 million on the project through the end of this year. It says that completion of the 4.3 million mt/y mine, along with other infrastructure, would cost $3.5 billion. It expects the mine would serve the Brazil market, which currently accounts for 14 percent of global demand, adding that Brazil consumption is expected to increase from 7.5 million in 2007 to 10.3 million mt in 2015. In August Rio Tinto will begin the target testing stage, with drilling and evaluation of its Regina Potash mine, east of Belle Plaine in Saskatchewan. Previous drilling has been positive, according to the company. Rio Tinto says both of its projects would have the lower-cost solution mining advantage.
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