Vale’s $2 Billion Tax Break Plea Denied by Argentina, Perez Says
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Vale SA, the mining company that halted construction at a potash project in Argentina, won’t get as much as $2 billion in tax breaks from the Latin American country as it negotiates terms to resume work.
Argentina rejected the tax deferrals, which Rio de Janeiro-based Vale requested after costs for its $5.9 billion Rio Colorado project rose to “complicated” levels, according to Francisco Perez, governor of Argentina’s Mendoza province, where the mine is located.