The world's number two mining company, Brazil’s Vale Doce said it received an environmental license to build its biggest-ever iron ore mine, an Amazon region project that holds about one trillion dollars of reserves at current prices.
Mercosur rejected an Argentine proposal to raise imports tariffs on all goods from outer zone to protect local industries, but accepted Brazil’s initiative to raise tariffs unilaterally on 200 goods, up from 100 agreed last December.
As expected, more than two-thirds of the lawmakers in Germany's parliament moved on Friday to approve the permanent Euro rescue fund, the European Stability Mechanism, and a fiscal pact long championed by Chancellor Angela Merkel.
Brazil could soon run out of soybeans to export this year after farmers’ frontloaded their shipments more than normal to cash in on high international prices and a favourable exchange rate.
China will make part of the booming Shenzhen economic zone, a test ground for freer Yuan usage and capital account convertibility, the National Development and Reform Commission said on Friday.
President Federico Franco announced in a press conference that if Paraguay is suspended from Mercosur the country will feel free to look for other trade agreements and international relations.
Argentina's government is sticking to its 5.1% growth forecast for 2012 enshrined in the budget, Economy Minister Hernan Lorenzino said on Thursday, despite recent data that shows a sharp deceleration.
Brazilian president Dilma Rousseff has unveiled a 115-billion-Reais (55 billion dollars) loan program aimed at reinforcing agriculture's role as a lever of Brazilian economic growth.
Uruguay’s government is going forward with plans to build its first deepwater port along the Atlantic coastline in a place called “La Angostura”, an investment estimated in over 700 million dollars and which it wants to use as a platform to begin exporting iron-ore to China.
China and Chile upgraded their bilateral ties to a strategic partnership and expect to double trade in three years once the bilateral free trade area agreement is completed with investment related supplementary accords.