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June 14, 2013

EXCLUSIVE How Kinross exit affects Ecuador’s mining
Move comes as Ecuador tries to develop mining sector and diversify exports

Canada's Kinross Gold decided to make an exit from Ecuador this week after failing to come to an understanding over taxes with the Ecuadoran government. The company’s exit does hurt Ecuador’s reputation in the mining industry, but could open the way for more Chinese entry into Ecuador’s mining sector, say analysts, Latin Business Chronicle reports.



Brazil offers 30 percent Libra profits to attract big oil investments
Analysts say amount is enough to spur interest.

Brazil is preparing to woo producers by offering at most a 30 percent take for developing its largest oil field. The oil regulator is preparing a road show to the U.S., Europe and Asia in late June and early July to market Libra, the largest oil discovery in Brazil that is up for auction in October, said the regulator's head, Magda Chambriard, Bloomberg reports.





Peru offers Amazon oil in auction
Government says more than 20 companies interested

Peru's government aims to attract more than $1 billion in investments in an upcoming public auction of 26 oil concessions in the country's Amazon region, a top government official said. The chairman of government agency Perupetro, Luis Ortigas (left), said that exploration investments in each concession will be between $40 million and $50 million. The Wall Street Journal reports.





Paraguay and Mexico advance towards economic accord
It's a first step towards a full free trade agreement, says Paraguay official

Technical groups from Paraguay and Mexico advanced on talks for the creation of an economic complementation accord in the framework of the Latam Integration Association. A free trade agreement is a requisite for the incorporation to the Pacific Alliance, where Paraguay is about to be given observer status, MercoPress reports.




Latin America can become major player in global bamboo industry
Many countries in the region have good conditions to develop the plant, says expert

Latin America can become a significant player in the bamboo industry, though not without major support from regional governments and a bigger effort to raise awareness about the potential economic benefits, Chinese expert Li Zhiyong said. He added that Brazil could be the first country to develop a bamboo industry the soonest, The Latin American Herald Tribune reports.





  • Venezuela says no dividends for underperforming oil partners Reuters
  • Brazil coffee crop to turn out almost 53 million bags Reuters
  • Argentina corn prices down despite China sale Wall Street Journal
  • Coca-Cola Femsa Venezuela restarting after 24-day strike Reuters 
  • Lloyd's eyes Colombian insurance market Financial
  • Bolivia's Entel claims to have 40 percent wireless market TeleGeography



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