target up to 1.5bt at 12% kcl, page-2

The Potash Atlantico Project
 Located in the attractive Sergipe potash basin
 Adjacent to Brazil?s only operating potash mine
 Project supported by 300 drill holes and 32,000 km of
existing 2D seismic data
 Initial target resource potential of 0.7-1.5 billion tonnes
of carnallite at ~12% KCl grade1
The Project Is Substantially De-Risked
 It will use proven technology supported by Ercosplan
 Close to infrastructure ? power, gas, road, port facilities AND FERTILISER CUSTOMERS
 Vale is developing a 1.2Mtpa carnallite solution mining project adjacent to the Potash
Atlantico project and has recently received preliminary environmental license.
 Management designed and developed Vale?s Carnallite Project and Pilot Plant nearby
Work Underway
 43-101 report complete
 Drilling target locations selected based on large seismic database
 Drilling Environmental Licensing process in progress
 Drilling to commence in May 2011
 Gas contract and off-take agreements are being developed