February 19, 2014 / 1:50 PM / 4 years ago

Vale may sell fertilizer project if no tax accord reached

BRASILIA, Feb 19 (Reuters) - Vale SA may sell a fertilizer project in Brazil’s northeastern state of Sergipe unless the largest mining company in the Americas reaches an accord with municipal authorities there over taxes, Chief Executive Officer Murilo Ferreira said on Wednesday.

Ferreira, speaking at a Senate hearing in Brasilia, Brazil’s capital, said shareholders “cannot be subject to fiscal uncertainties” about the project. The company is looking for an accord over taxes that makes the project financially and operationally feasible for all parties involved, he added.

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