Brazilian mining giant buys Amazon palm oil company

Posted by Washington Post: Juliet Eilperin on February 3rd, 2011
Mongabay: Brazilian mining giant buys Amazon palm oil company Vale, a Brazilian mining giant, will buy palm oil producer Biopalma da Amazonia SA Reflorestamento Industria & Comercio, reports Bloomberg. The deal, valued at $173.5 million, will enable the mining company to run more of its operations on palm oil biodiesel. Vale began its palm oil push in 2009 when it formed a partnership with Biopalma. At the time Vale said the deal would save $150 million in fuel costs starting in 2014, with palm oil biodiesel......

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