Jazz Air Income Fund has agreed to invest 15 million US dollars for an indirect stake in Uruguay's flagship carrier, Pluna. The fund behind Air Canada's regional affiliate, Jazz Air, said that it will get a one-third, non-voting interest in Latin American Regional Aviation Holding Corp., which owns 75% of Pluna Lineas Aireas Uruguayas. The remaining 25% of Pluna is held by the government of Uruguay.
Brazil, Latinamerica’s largest economy and leading Mercosur partner is poised to grow 5.5% this year, almost a whole percentage point more than the previous forecast in January, according to the International Monetary Fund “World Economic Outlook” released in anticipation of the IMF and World Bank annual assembly this weekend in Washington.
Protesters in the southern Peruvian province of Islay ended their six-day general strike after the government agreed to temporarily suspend a controversial mining project.
Chile’s nationalized copper company—and the largest copper company in the world—has a new CEO. Diego Hernández Cabrera, a current executive with International mining giant BHP Billiton, was appointed unanimously this week as CEO by Codelco’s board of executives.
Exxon-Mobil has completed an extended-reach well offshore southern California, which it claims is the world’s longest extended-reach well drilled from an existing offshore fixed platform drilling rig.
Rockhopper Exploration (AIM: RKH) has spudded its 100% owned Sea Lion 14/10-B exploration well in the Licence PL032 in the North Falkland Basin. Once drilling is complete, Sea Lion’s results will be eagerly anticipated among investors following the prospective Falkland oil and gas play.
Canada’s Bombardier Aerospace announced Thursday that Pluna Lineas Aereas Uruguayas S.A. has signed a follow-on firm order for three CRJ900 NextGen regional jets and has taken options on an additional six CRJ900 NextGen aircraft.
China and Brazil bolstered their growing ties with trade and investment agreements on Thursday in Brasilia before a summit of the world's top four emerging markets that was cut back after China's leader decided to return home to deal with a major earthquake.
Dow Jones reported that Indian-owned UK based Zamin Resources has one major iron ore project under way in Brazil and is keen on developing others in the country and neighboring Uruguay.
Cougar Metals NL announced it has entered into a memorandum of understanding with Indian owned UK based Zamin Ferrous Resources to provide 75,000 metres of surface drilling at the resource company’s magnetite project in Uruguay.