Chile's Mining Minister Karen Poniachik disclosed Monday that Chile is anticipating 17 billion US dollars on new gold and copper mining investment in the next five years. Poniachik said the new cash infusion is needed to replace existing mines whose reserves are running out and to bolster output.
Global liquidity in recent years has led to a boom, --and speculation--, in real estate and farming land in Mercosur member countries. Argentina, Brazil, Uruguay and Paraguay have seen land prices soar pushed by foreign buyers and now governments are reacting tightening restrictions on land ownership.
Ecuador offered on Friday to rework the contracts of foreign oil companies that object to a decree sharply reducing their share of windfall oil revenues. President Rafael Correa surprised companies on Thursday by decreeing that the government will take 99% of the profits gained when oil prices rise above contracted levels. Previously, it was a 50-50 split.
ArcelorMittal the world's largest steel group announced plans to offer 542 million US dollars to take over Argentina's Acindar and increase its presence in Latinamerica.
A bank from the Netherlands has emerged as the winning bidder in an auction which marks a new phase in the global carbon market reports the BBC. Fortis Bank has paid more than 13m Euros for the rights to emit 800,000 tons of carbon dioxide, in the first such auction to be held in a regulated exchange, the Brazilian Mercantile and Futures Exchange (BM&F
Boeing forecasts that demand for air travel in Latin America will see the region buy more than 1,700 planes worth 120 billion US dollars over the next 20 years.
A large stretch of coastal land has been secured by a United States conservation group, paving the way for the biggest expansion of the U.S. Virgin Islands National Park since it was created more than 50 years ago
The Falkland Islands historic Stanley Racecourse is now totally government owned thus securing the whole area for recreational purposes at least for the next fifteen years. The racecourse considered a Falklands' heritage is one of the main annual attractions for local residents particularly over Christmas and New Year
Uruguay is on route to add another substantial option to its commodities' led economy: pulp and paper. A pulp mill is ready to begin production, another two are on the drawing board and a fourth has been announced by Portuguese interests.
In search of more investments Brazilian president Luiz Inacio Lula da Silva arrived this weekend in Spain where beginning next Monday he has a heavy schedule of political and economic meetings.