Brazilian mining giant Vale is planning to invest $12bn by 2014 to increase potash production.
The company aims to increase its annual potash output from 750,000t a year to 10.6 million tonnes.
It is also considering to boost phosphate production to 12.8 million tonnes a year from 8.8 million tonnes at present.
Vale previously purchased assets, including phosphate mines, from Bunge for $3.8bn to shore up its crop nutrient output in Brazil. It also plans to boost production in the Bayovar phosphate mine in Peru by 50% over the next 18 months.
