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President Rousseff calls on Vale to dialogue with Argentine authorities

Friday, April 26th 2013 - 08:00 UTC
Full article 38 comments

Brazilian president Dilma Rousseff said during a joint conference with her Argentine peer Cristina Fernández at Government House in Buenos Aires that she was certain the Vale mining company “would find a way to reach an agreement with the Argentine authorities” on the suspended project. Read full article

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  • Think

    Old dreams coming true………….

    ”Think (#) Jul 22nd, 2010
    Ohhh dreams.......
    Imagine.............. (if elected/ reelected)
    Michelle (Chile), Dilma (Brazil), Lucia (Uruguay) and Cristina (Argentina) together in 2015........
    What a beautiful vision.....
    What a lesson to the world.....
    Yippie-ki-yay; m***her f***er.

    http://en.mercopress.com/2010/07/22/former-president-bachelet-joint-inter-american-dialogue-think-tank#comment14701

    Apr 26th, 2013 - 08:11 am - Link - Report abuse 0
  • Anbar

    “”“”“Brazilian president Dilma Rousseff said during a joint conference with her Argentine peer Cristina Fernández at Government House in Buenos Aires that she was certain the Vale mining company “would find a way to reach an agreement with the Argentine authorities” on the suspended project.”“””

    Or, in plain English

    Just pay Christina the bribe she has already asked for and she'll promise not to expropriate your entire company assets within Argentina when its politically convenient to here.

    -----------

    Nice to see the doctors succeeded in surgically removing those socks from your hands btw Think.

    Apr 26th, 2013 - 10:12 am - Link - Report abuse 0
  • yankeeboy

    Vale simply wants the real exchange rate for their U$ investment not the greatly reduced Gov't rate.
    If CFK is willing to give them 10/1 instead of 5/1 I bet they'll stay.

    Psst I don't think they will stay

    Apr 26th, 2013 - 10:28 am - Link - Report abuse 0
  • travellingscotsman

    Please see eye opening programme about Argentina's “economic miracle”

    http://www.youtube.com/watch?v=JxATngnqgv8

    Apr 26th, 2013 - 10:32 am - Link - Report abuse 0
  • Captain Poppy

    A lewsson of elected dictators

    Apr 26th, 2013 - 11:33 am - Link - Report abuse 0
  • yankeeboy

    Following months of general reticence since Vale abruptly stopped work on the project in late December, company executives took advantage of a series of conference calls Thursday to clarify that they do not expect to lift the suspension announced last month.
    “We hope, with the discussions going on this week, that Vale may leave Argentina in the most serene and peaceful way and that the Rio Colorado may be implemented, but by other partners,” Vale Chief Executive Murilo Ferreira told reporters on a call.
    Mr. Ferreira also suggested there may be a limit to how much Argentine authorities can demand of the company. Since Vale shelved Rio Colorado on March 11, Argentine cabinet members and judges have threatened to revoke the company's concession, obliged it to continue paying workers and blocked it from dismantling installations located at the site.

    Read more: http://www.foxbusiness.com/news/2013/04/25/brazil-vale-hopes-for-peaceful-exit-argentina/#ixzz2RZPFjon3

    Apr 26th, 2013 - 12:01 pm - Link - Report abuse 0
  • Conqueror

    See the youtube video that argieland requested be removed!

    http://www.youtube.com/watch?v=kGIfQ-GVM58

    Apr 26th, 2013 - 12:05 pm - Link - Report abuse 0
  • knarfw

    Vale are too busy dealing with sensible countries. http://vinl.valeinco.com/ProjectOverview.asp

    Apr 26th, 2013 - 01:21 pm - Link - Report abuse 0
  • ElaineB

    Vale pulling out is a huge blow to Mendoza in particular. When I was there everyone was talking about the effects it would have in the long term.

    Apr 26th, 2013 - 01:37 pm - Link - Report abuse 0
  • yankeeboy

    9. That is not possible Toby assured us mining was inconsequential to their economy. They didn't need the investment and if fact were growing exponentially as proved by a (possible) New Hard Rock and many new Havanna shops opening.
    Elaine, you must have been in another town.

    Apr 26th, 2013 - 01:43 pm - Link - Report abuse 0
  • britanico

    Dialogue is a noun in English, not a verb, like 'dialogar' in Spanish.

    Apr 26th, 2013 - 02:10 pm - Link - Report abuse 0
  • ElaineB

    @10 Notice how quiet he has been since my visit to Mendoza? I don't want to stir him up again but the Mendoza he talks about is not the reality, rather an idealised version he hopes for. Good for him to think positively and whilst I like Mendoza and the area, people there are nervous. Not only about the collapsing economy but also the insecurity. CFK's policies are affecting them on so many levels. One seemingly minor but irritating example for the locals is reverting to very basic cellphones because they cannot get parts for iPhones. And in the wineries, attempts at mechanising parts of the process have reverted to manual labour because they cannot maintain or get parts for the machinery. They find ways around the problems but they really are regressing rather than progressing.

    I was offered an opportunity to buy into a vineyard there. Most successful businesses seemed to be owned by foreigners and I met with quite a few of them. They all had options of pulling out and had businesses and homes in other countries, so they were less at risk of losing everything. All had sympathy for the Argentines without a fall-back option.

    I am not buying in Argentina but am considering another opportunity in Chile. Tis nothing to do with my work but an interesting proposition.

    Apr 26th, 2013 - 02:34 pm - Link - Report abuse 0
  • yankeeboy

    12. I'm am afraid the kids that are 1-10 now will not know what the new technology looks like when they get in their 20s.

    I think Argentina is entering a dark ages like they did from 50-80s.

    They may be able to see what is going on through the internet but never really know or understand how to use it or have any chance to touch it.
    A decade is a long time nowadays
    10 yrs ago the iphone didn't exist

    This import restriction is also keeping more people than really needed employed. It is astonishing how they still do so much work by hand. When I lived in BA I saw guys using shovels SHOVELS MIND YOU to dig out a hole for a high rise!!
    I used to have 5 people that worked in my house, not that I was rich it was because they were so cheap and I really needed them to; stand in lines to pay bills ( no checks or credit cards can be used) go shopping every day, go get gas for the car and lawnmower etc, wait around for phone or electricity to be repaired, all the things that are done here in minutes or seconds takes forever there. It is no wonder why they are so unproductive.
    Don't buy anything in Argentina. They are just entering another currency crisis and there will plenty of opportunity in 5-10 yrs to buy stuff cheap.

    Apr 26th, 2013 - 02:45 pm - Link - Report abuse 0
  • Chicureo

    Elaine
    Buying into a Argentinian winery is not a smart move unless you are purchasing xsit for less than 25% of its real book value. (Then perhaps its worth a study.) Mendoza produces some outstanding wines and decent champagne, but their production and exporting costs are just way too high. Too many Americans and Europeans invested enormous amounts of money into beautiful wineries with boutique hotels that are mostly profitable, but will never return a profit on investment.
    Chile, with lower production costs, by far is a better investment for foreign investment and we have no export taxes or currency controls as does Argentina. Yet I would still warn an investor to tread softly as there is a wine glut worldwide, and margins are very slim.

    Apr 26th, 2013 - 03:03 pm - Link - Report abuse 0
  • Baxter

    This just highlights the problems facing Brazil with gross government interference in the running of companies . Vale pulled out for perfectly good business reasons ! Now they have to reconsider due to government pressure . Some time ago the president of the company was fired because he wanted to invest outside Brazil . Now , the new one , has to invest in the worst of places - Argentina ! In the case of Petrobras the same nonsense . They could not increase local petrol prices due to political pressure . Hence they started selling overseas investments , .like the Argentine operation , to cover the deficit . In that case worse because its shares are quoted in the US market . Not surprising that the value of the same plummeted !

    Apr 26th, 2013 - 03:10 pm - Link - Report abuse 0
  • ElaineB

    @13 and 14. As I said in my post, I am not buying into anything in Argentina. Too many reasons to list but it all comes down to a lack of trust.

    I am considering an investment in Chile in a wine region but not a winery. It would be entirely for personal reasons.

    Apr 26th, 2013 - 03:22 pm - Link - Report abuse 0
  • MagnusMaster

    @13 the Peronists want to keep everyone in the dark ages to keep people employed. Their reasoning is that it's more important to feed everyone than to get the latest iPhone. Labour is cheap in third-world countries, by the way. That's why we are the third-world, see?

    Apr 26th, 2013 - 03:32 pm - Link - Report abuse 0
  • Captain Poppy

    http://www.foxbusiness.com/news/2013/04/24/trade-investment-seen-dominating-argentina-brazil-presidential-summit/

    Apr 26th, 2013 - 03:38 pm - Link - Report abuse 0
  • yankeeboy

    Looks like some protests are getting out of hand today.
    Wonder when it will spread?
    When the peso reaches 10/1?

    Apr 26th, 2013 - 03:42 pm - Link - Report abuse 0
  • Captain Poppy

    http://www.reuters.com/article/2013/04/24/us-argentina-economy-idUSBRE93N11O20130424

    Apr 26th, 2013 - 03:43 pm - Link - Report abuse 0
  • Conqueror

    @17 You could usefully research what “third world” actually means. http://en.wikipedia.org/wiki/Third_World
    Stick with third, or even fourth, rate!

    Apr 26th, 2013 - 04:06 pm - Link - Report abuse 0
  • malen

    Democracy is alternance, we cant have three periods of 4 yers plus two or one periods of the husband of the same person.......that would not be democracy, but autocracy.
    We cant change the constitution just because doesnt fit with the wishes of one person. It would be a circus, not serious, not legal.

    Apr 26th, 2013 - 04:47 pm - Link - Report abuse 0
  • reality check

    Travelingscotsman.
    Thanks for posting the link. It is an eye opener.

    Apr 26th, 2013 - 05:07 pm - Link - Report abuse 0
  • yankeeboy

    9.28/1
    and its only 1pm

    Apr 26th, 2013 - 05:09 pm - Link - Report abuse 0
  • Captain Poppy

    malen your Enlgish needs word (but is better than my Spanish), but I applaud your on the the content of your statement. Unforntunately there are those in power in South America that change to constitution in order to expand and consolidate power. A strong constitutional democracy does not afford one branch of government superior powers over any other brach of government without checks and balances. ANd neither legislative nor executive branch of governemnt every have any say over the judiciary. When judges become elected officials, they are no more independent minded juris prudence professionals. They now become elected officials if they wish to remain a judge. Now their decisions will always take in account the will of the people....right or wrong.

    Apr 26th, 2013 - 05:15 pm - Link - Report abuse 0
  • slattzzz

    WHAT no mention of the Falklands WTF

    Apr 26th, 2013 - 06:26 pm - Link - Report abuse 0
  • ChrisR

    I had real hopes for Brasil under Dilma but she seems more concerned with interfering than setting the targets and letting people manage the way to the expected outcomes.

    Mind you Brazilian is a government employee and does not understand basic government / private sector economic realities and he works for her (probably VERY indirectly).

    They are DOOMED I say, DOOMED.

    Apr 26th, 2013 - 06:40 pm - Link - Report abuse 0
  • briton

    Two women in the kitchen does not work,

    one of them is a fake,
    who..

    Apr 26th, 2013 - 06:44 pm - Link - Report abuse 0
  • reality check

    Brazilian politicians interfering with free enterprise, think not.

    Apr 26th, 2013 - 06:52 pm - Link - Report abuse 0
  • yankeeboy

    One of my Rg friends said The CFK gov't is on the verge of collapse when the Ministers start jumping ship.
    4 ministers are about to jump
    Rats leaving the sinking ship
    Huzzah

    Apr 26th, 2013 - 08:14 pm - Link - Report abuse 0
  • Frank

    Is it just me or is that sheila in the doorway Boudou in drag?

    Apr 26th, 2013 - 10:48 pm - Link - Report abuse 0
  • yankeeboy

    Who was the one that was arguing with us that this would never happen and it was all Clarin Lies BS??

    A company press official said the process will begin next week, involving around 400 direct employees and 6,000 indirect workers.
    Vale stopped work on the $6 billion project in December and announced its suspension in March, citing cost issues.
    Additional details, such as the cost of terminating contracts in Argentina, weren't immediately available, the official said.

    Read more: http://www.foxbusiness.com/news/2013/04/26/brazil-vale-signs-agreement-to-lay-off-argentina-workers/#ixzz2Rf37hBpz

    Apr 27th, 2013 - 11:11 am - Link - Report abuse 0
  • Conqueror

    @22 But CFK doesn't “work” like that! When it comes to the requirements of the argie constitution, what she does is to ignore it. Take the small matter of Repsol YPF. Here's an extract from Section 17 of the argie constitution: “Expropriation for reasons of public interest must be authorized by law and previously compensated.”
    Have you compensated Repsol yet? But notice that word “previously”. Should have paid up BEFORE stealing the company.
    Why don't you read your constitution http://www.senado.gov.ar/web/interes/constitucion/english.php http://www.senado.gov.ar/web/interes/constitucion/english.php
    Come back and tell us how much of it CFK breaches/ignores.

    Apr 27th, 2013 - 12:02 pm - Link - Report abuse 0
  • ChrisR

    33 Conqueror

    Well, you can see why the country is fcuked up just by reading their constitution.

    I did start a detailed critque but it just ran on and on.

    The sad thing of course is that the intent of the document in preserving the citizens of ARs human rights and health is very good: they just do not DO any of it.

    Pathetic in the non-observance.

    Apr 27th, 2013 - 01:38 pm - Link - Report abuse 0
  • briton

    CFK just loves the attention
    The limelight, the fame, the mystique
    But hates-
    The truth and the plastics..

    .

    Apr 27th, 2013 - 07:34 pm - Link - Report abuse 0
  • travellingscotsman

    Reality check - you're very welcome.

    Apr 27th, 2013 - 11:00 pm - Link - Report abuse 0
  • mastershakejb

    www.foxbusiness.com/news/2013/04/27/brazil-vale-agrees-to-pay-workers-as-it-exits-argentina-mine/

    “adios Argentina, basta de tu mierda, ya no te quiero mas, no me gustas tu” -Vale(and rest of Brazil too)

    Apr 28th, 2013 - 06:24 am - Link - Report abuse 0
  • Captain Poppy

    Again Argentina lost here and Dilma must have set her straight. The laws in Argentina typically requires a minimum payout for terminations without advance noticen that is in the range of a year. The walk away paying out 2.5. months to the workers is a deal and a half for Vale. Obviously Dilma had her say

    Apr 28th, 2013 - 01:49 pm - Link - Report abuse 0

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