Vale Seeks IADB Loan For $6B Potash Mine In Argentina

Law360, New York (October 11, 2012, 4:37 PM EDT) -- Mining giant Vale SA is seeking $500 million from the Inter-American Development Bank to support its $5.9 billion potash mine in Argentina, which resumed development work this summer after labor and investment disputes with officials there, according to documents posted by the bank on Thursday.

The company has applied for a two-tranche loan — a $200 million loan from the bank and a $300 million loan to be syndicated to commercial lenders, both denominated in U.S. dollars — for its Rio Colorado project in the western...
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