Argentine authorities backed away from a recent ultimatum for Brazilian mining giant Vale to submit a new timeline for its 6 billion dollars Rio Colorado potash mine, giving the company more time to find a solution for the imperiled project.
The Argentine province of Mendoza joined on Friday other oil producing areas of the country in cancelling concession contracts which has been awarded to the Spanish owned oil corporation Repsol-YPF, with which the government of President Cristina Fernandez is involved in a controversy over long term investment.