Brazilian mining giant Vale SA has approved the signature of a new 30-year leasing contract with state-owned oil company Petroleo Brasileiro SA (Petrobras) over the Taquari-Vassouras mine and the Carnalita project in northeast Brazil, the company announced.
Vale, which has been exploiting the Taquari-Vassouras deposit since 1992 in Sergipe state, produces about 750,000 tpa potash under a contract with the oil company which owns the mine.