MercoPress. South Atlantic News Agency
Brazil’ Vale leaves Argentina after accord to pay workers and contractors
Brazilian mining giant Vale SA will pay two and a half months' salary to workers in Argentina as part of an agreement signed on Friday allowing the miner to exit the 6 billion dollars Rio Colorado potash and fertilizer project. Read full article
Comments
Disclaimer & comment rulesVale is taking the quickest and cheapest option to exit Argentina. Better to pay two and a half months wages to the workers than to keep haemorrhaging money by trying to make this project work.
Apr 29th, 2013 - 05:53 am - Link - Report abuse 0This is another 'great' example of CFk's economic 'miracle'. Basically her model seems to be to push every foreign investor and company out of Argentina altogether.
As for the Chinese investing, well I'll believe it when the actual contract has been signed. The fact that these companies were asking about YPF illegal expropriation and Argentine inflation means that they are not justing going to jump into any potential investment blind.
And the Chinese have a reputation for bringing in a lot of their own workers.
Apr 29th, 2013 - 06:02 am - Link - Report abuse 0Whatever happens in the future it is very bad news for Mendoza now.
@2elaine
Apr 29th, 2013 - 06:40 am - Link - Report abuse 0“Whatever happens in the future it is very bad news for Mendoza now.”
Some famous lyrics,
“we're only making plans for Nigel... er ... Toby ”
@3 - Troy
Apr 29th, 2013 - 07:55 am - Link - Report abuse 0Ah yes but Toby doesn't need anybody, remember? Far better that Argentina is isolated, so the people can rejoice living in poverty and misery.
When the Chinese asked about inflation, did he say...“mi quiro ir”
Apr 29th, 2013 - 10:11 am - Link - Report abuse 0The recent dialogue with Dilma must have pushed this settlement.
Apr 29th, 2013 - 10:17 am - Link - Report abuse 0I wonder if CFK will have the time to write “How to Ruin a County in only a decade” when she is in jail?
Poppy
Apr 29th, 2013 - 10:37 am - Link - Report abuse 0mi quiro ir?
Add hueón to that line.
Hahahaha
Why do SAs think that China throws its money down rat holes? They don't they are very thoughtful with their investments. They need fuel, food and technology. This is what drives their investments.
Apr 29th, 2013 - 11:40 am - Link - Report abuse 0Plus in short order they will be pulling back on external investments to fund their HUGE underperforming loans and HUGE decrease in local tax base. They don't have that much money to go around.
2 1/2 months salary for the Argentines that lost good paying jobs and 20 years worth of salary in payments to several Argentine officials to seal the deal.
Apr 29th, 2013 - 11:43 am - Link - Report abuse 0Yep-this is the Argentine economic miracle we keep hearing about.
Apr 29th, 2013 - 11:50 am - Link - Report abuse 0@6 Hitler wrote “Mein Kampf” from prison, so it's possible. Though many speculate he had it ghost written. No doubt a talentless idiot like KFC would do the same.
Apr 29th, 2013 - 01:38 pm - Link - Report abuse 0Did nobody tell him that his President told Kirchner that Vale would reconsider its decision ? This poor guy is out of a job . The government runs Vale the way it runs Petrobras !
Apr 29th, 2013 - 01:52 pm - Link - Report abuse 0This bunch of losers needs to top the present load of twats from TMBOA all through the 'government' and rid themselves of the Peronistas (some hope I know) THEN find someone like the blessed Margaret who can emasculate the unions, stop the corruption and graft and restore the economy.
Apr 29th, 2013 - 01:53 pm - Link - Report abuse 0Ha, ha, ha. It isn’t ‘The Blessed Margaret’ they need it’s the Blessed Mother of God: oh damn, just seen the weakness here; there is NO god! Better get Supergirl then!
They are all DOOMED!
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