NEWS
Mon Feb 3, 2014 03:19 PM CST

RIO DE JANEIRO (Dow Jones) -- A feud over tax revenues in two small towns is threatening one of Brazil's best chances to reduce its dependence on imported potassium fertilizers in the near future.

Mining company Vale SA hopes to invest $2 billion in the first phase of a project to produce 1.2 million metric tons a year of potassium chloride in the impoverished northeastern state of Sergipe starting 2017. Production would amount to nearly 20% of Brazilian farmers' annual needs, 93% of which is imported from distant countries such as Canada and Belarus.

But Vale's management hasn't formally sought ...

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