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Vale (VALE -2.8%) tells FT it is preparing to build the world's largest single processing plant...

Vale (VALE -2.8%) tells FT it is preparing to build the world's largest single processing plant for palm oil in the Amazon rainforest by 2015 to cut its fuel costs and help develop the Amazon region. The project, which will cost more than $500M, will grow palm oil and convert it into biodiesel to run the company's machinery, ships, trains and trucks.
Comments (4)
  • I dunno, this sounds like a bad idea. Something about improving the rainforest for energy sounds just too good to be true.
    25 Jun 2012, 12:07 PM Reply Like
  • Bad for the rain forest then bad for the planet ...............?
    25 Jun 2012, 12:32 PM Reply Like
  • Use solar and wind power. China is working on it, US big oil companies pressure congress to stop work.
    25 Jun 2012, 12:44 PM Reply Like
  • Malayasia has been using palm oil for biodiesel fuels for a few year. The primary export market for palm oil is still food uses more than fuel uses. So it might sound more like an energy play, but it looks more like an agriculture play for VALE.

     

    Disclosure: long VALE
    25 Jun 2012, 06:38 PM Reply Like
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