Brazil: Vale heading for fertilizer expansion

Vale Fertilizantes, the fertilizer unit of Brazilian mining giant Vale SA, aims to become a leading player in global fertilizer markets by 2015, when its annual output is targeted at 3.4 million tons of potash, up from an estimated 800,000 tons in 2011, and 12.7 million tons of phosphate rock, up from 6.4 million tons foreseen in 2011. In the first quarter of 2011 Vale Fertilizantes invested 22% more than in the same quarter 2010. Vale expanded its position in fertilizers in 2010 after buying Brazilian producer Fosfertil SA and Bunge Ltd.‘s fertilizer assets in Brazil for a total of $4.7 billion. These operations were grouped together under Vale Fertilizantes, which more recently absorbed Vale Fosfatados SA, a sister company in the phosphates area.

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