Gold miner Minera IRL Ltd reports it has secured government permits to build its Don Nicolas pit mine in Argentine Patagonia and is now seeking financing to get the 57 million dollars project up and running next year, the company said on Wednesday.
Brazil natural gas output could nearly double by 2020, reaching up to 120 million cubic-meters a day, as Latin America's largest economy increases the number of offshore platforms to take advantage of huge deep-sea oil reserves, the general director of the National Petroleum Authority, ANP, said this week.
Moody's Investor Service announced on Wednesday it has downgraded the issuer and debt ratings of several provinces and cities in Argentina, due to the risks these states may face to access foreign currency and serve their obligations in foreign currency.
Brazil's former President Lula Da Silva blasted the protectionist measures of the developed countries and called for the alliance between businessmen from his country and Argentina's, as he highlighted that Brazil grows, but with a controlled inflation rate.
When Argentina proposed a brutal 65% haircut to holders of its defaulted sovereign bonds in a 2005 restructuring, one argument the country’s officials used to justify the offer was that the country could not take on more debt than it could reasonably expect to pay. As painful as the loss might be, the argument went at least the new bonds the government would issue would be creditworthy.
Australia shipped 22,648 tonnes swt of beef to Japan during September, the lowest monthly volumes since December 2003 (with the exception of January).
Venezuelan flag air-carrier Conviasa plans this year to expand the number of destinations from four to ten with the three, out of an order of twenty aircraft purchased to Brazil, announced on Wednesday the president of the company General César Martínez.
Switzerland’s government rejected a law suit filed by US hedge funds asking to set an embargo on Argentina's assets deposited in Switzerland based Bank for International Settlements as they claim the payment of a 1 billion dollars debt.
By Ned Raynolds - A joke currently making the rounds on Wall Street has it that a bar opened in Silicon Valley, giving away drinks for free. The place was soon wall-to-wall with people. Other West Coast saloons latched onto the idea, figuring that a business model that attracted so many patrons couldn’t fail.
Brazil's deeper-than-expected economic slowdown is amplifying the deceleration already being experienced by Argentina and Uruguay as a result of the global slowdown, according to a new Fitch Ratings report.