Vale acquires Biopalma, ups ante in Brazilian biodiesel

In Brazil, Vale—one of the world’s largest mining companies—is boosting its investment in biodiesel for use in its machinery and trains, with the acquisition of the palm oil producer Biopalma, paying $173.5 million for the remaining 70 percent of the company’s stock.

By 2014 it expects to produce 160,000 tons per year from locally produced palm oil, and 500,000 tons by 2019. Vale has identified 31.8 million hectares where it could expand its oil palm plantations to help move the country away from its biodiesel reliance on soy.

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