Vale, Petrobras close to deal on MOP reserves exploration

摘要

BRAZILIAN MAJORS Vale and Petrobras are expected to conclude by the end of October this year the negotiations related to the operation by Vale of the Taquari-Vassouras potash mine located in Sergipe state in the north-eastern region of the country. The negotiations include the extension of the current contract, which is due to expire in 2017, and the expansion of the reserves covered by the contract to include the area to be exploited by Vale's Carnalita project; Carnalita is a new initiative being planned by the Brazilian mining major at the same location.