Friday, May 6th 2011 - 02:14 UTC

Iron-ore price doubles in a year; Brazil Vale’s profits soar to 6.8bn in first

China and India’s appetite for steel fuel iron ore prices

Brazil’s Vale, the world’s largest iron ore producer, posted a record quarterly profit as mineral prices and sales of metals including copper and nickel surged. Net income increased to 6.83 billion USD from 1.6 billion, in the year-ago period, Vale announced Thursday in a regulatory filing.

Thursday, May 5th 2011 - 08:26 UTC

German president and trade delegation on three-day visit to Brazil

Head of state Christian Wuff is scheduled to meet Brazilian business people in Sao Paulo

German President Christian Wulff is in Brazil on a three-day visit aimed at strengthening ties between the two countries and discussing mutual co-operation in science and technology.

Thursday, May 5th 2011 - 01:57 UTC

Argentine group buys 10% of YPF, now holds 25.46% of the company

Enrique Eskenazi president of the Peterson group

Argentina's Eskenazi family has agreed to pay 1.3 billion US dollars to buy an additional 10% in YPF, the Argentine unit of Repsol, the Spanish oil company said on Wednesday.

Tuesday, May 3rd 2011 - 23:04 UTC

Falklands oil company spuds new well and has four more lined up

Full agenda for the exploration rig “Ocean Guardian”

Rockhopper Exploration has spudded the next appraisal well on the Sea Lion oil discovery in the Falkland Islands’ waters. Drilling began on the 14/10-5 appraisal well on May first 2011.

Tuesday, May 3rd 2011 - 22:56 UTC

Argos confirms it is closer to starting an oil drilling campaign in Falklands’ waters

Chairman Ian Thompson says Argos has comprehensive 3D seismic survey

Argos Resources is a step closer to starting a drill campaign in Falkland Islands waters, where it is targeting a high priority area adjacent to Rockhopper’s Sea Lion discovery.

Tuesday, May 3rd 2011 - 17:55 UTC

Boeing forecasts Latam air-carriers will require 2.180 airplanes in next 20 years

Randy Tinseth, vice president of Marketing for Boeing Commercial Airplanes

Boeing forecasts that air carriers in Latin America will require 2,180 new airplanes worth approximately 210 billion US dollars over the next 20 years as air travel in the region out paces the world average.

Tuesday, May 3rd 2011 - 17:08 UTC

Petrobras earmarks 73 billion USD for investment in Santos pre-salt basin

Partners in the pre-salt development include British Gas, Repsol-YPF and Galp Energia

Petrobras announced the increased investment plans for the emerging Santos basin pre-salt assets, earmarking 73 billion US dollars for the 2011-2015 period. The vast sum is a 63% increase compared with the company’s 2010-2014 plan said a company statement.

Monday, May 2nd 2011 - 00:31 UTC

LAN plans to invest 4.6 billion USD on its fleet through 2014

Chile's LAN Airlines group plans to spend around 4.6 billion US dollars on its fleet of aircraft through 2014, Chief Financial Officer Alejandro de la Fuente announced.

Friday, April 29th 2011 - 05:47 UTC

Brazil’s mining giant buys stake in controversial Amazon dam project

“Avatar” director James Cameron is one of many against the Amazon dam

Brazil giant mining corporation Vale SA, in which the government has a dominating stake position, agreed to buy a stake in a controversial hydro-power project in the Amazon and invest about 2.3 billion Real (1.5 billion USD).

Thursday, April 28th 2011 - 02:54 UTC

Argentina will limit farm land holdings and purchases by foreigners

President Cristina Fernandez made the announcement

Argentina said on Wednesday it will restrict foreign ownership of farmland. President Cristina Fernández de Kirchner made the announcement during a televised speech at Government House saying she was sending a bill to Congress which will cap land ownership for foreigners.


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