Farmers in Brazil have teamed up to drill an area the size of New York for phosphate-based fertilizers, seeking to cut dependency on producers including Vale S.A. (NYSE:VALE) and Mosaic Co. (NYSE:MOS) after prices surged.
Norway’s Norsk Hydro ASA (OSL: NHY), Europe’s third largest aluminum maker, agreed to buy mining and smelting assets from Vale (NYSE: VALE) in a deal valued at 4.9 billion US dollars, boosting its control over raw materials used in production.
Chile’s nationalized copper company—and the largest copper company in the world—has a new CEO. Diego Hernández Cabrera, a current executive with International mining giant BHP Billiton, was appointed unanimously this week as CEO by Codelco’s board of executives.