Vale says it has no plans to bid for Potash Corporation. It's understood Vale doesn't want to pay a hefty amount to buy the Canadian firm, because it's already invested significantly in its own fertilizer project.
Market analysts say Vale is being asked by Brazilian politicians to invest more in the domestic market. Vale has already invested over 10 billion U.S. dollars to expand its fertilizer business through mergers in recent months.
- Sinochem keeping an eye on Potash 2010-08-24