Vale Suspends $6B Argentina Potash Mine Amid Money Woes

Law360, New York (March 12, 2013, 3:30 PM EDT) -- Brazilian-based mining giant Vale SA has put the kibosh, for now, on a $5.9 billion potash mining project in Argentina, citing economic pressures that would make going forward with the project financially reckless, according to a Monday statement.

The company has informed Argentinian government officials that it will be suspending the implementation of the Rio Colorado project, Vale said. The decision comes less than a month after the company reported a significant drop in 2012 revenues when compared to 2011 financials, according to investor documents....
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