Rich pickings in the Amazon
©Reuters There are few nastier looking plants than the murumuru palm. With spines as long and sharp as stilettos, this native of the Brazilian Amazon guards its nutty fruit jealously…
Margarita Louis-Dreyfus lifts stake in trader
©AFP Margarita Louis-Dreyfus has increased her control over the holding company that owns Louis Dreyfus Commodities, buying shares from other members of the family. Ms Louis-Dreyfus, through a family trust…
Vale: the shipping orecast
Finally, Vale has landed one of its controversial megaships in China to unload its iron ore. Whether this signals a relaxation in the country’s ban on Brazil’s giant carriers is…
Smartphone spending hits América Móvil
América Móvil, Latin America’s largest telecoms operator, reported a 17 per cent fall in first-quarter profits as it spent more on smartphones to attract customers to sign up for long-term…
Brazil cement maker seeks $5.4bn via IPO
Votorantim Cimentos has announced its intention to raise $5.4bn through an initial public offering that will be the world’s biggest this year if realised. In a filing to the Securities…
China permits giant Valemax to dock
©AFP A port in eastern China has allowed one of the controversial huge Valemax ships to dock and unload a cargo of iron ore, potentially signalling a relaxation of China’s…
Amerisur trebles revenues from Colombia
Amerisur Resources held out the prospect of further growth in its reserves base as it confirmed a trebling of revenues and leap in profits from fields in Colombia. Giles Clarke,…
YPF struggles to rise above bitter legacy
©AFP A year on from the announcement of its expropriation from Repsol of Spain, Argentina’s YPF has made strides in boosting production, furthering exploration and securing investment. But despite the…
Copper miners forecast years of surplus
BHP has plans to relocate another plant to allow the Escondida mine to expand even further It is hard not to be impressed by Escondida’s scale. From one edge of…
Telefónica considers listing Colombia arm
Telefónica, the Spanish telecoms operator, is considering spinning off part of its Colombian business in a listing as it seeks to cut debt and avoid selling stakes in its other…
Repsol-YPF: dead cow tango
The whole point of robbing Pedro to pay Paulo is to fool people. So hats off to President Cristina Fernández of Argentina. Her decision a year ago to expropriate YPF…
Petrobras in venture talks with Batista
Brazilian billionaire Eike Batista Petrobras said on Tuesday it was exploring possible business ventures with companies controlled by Brazilian billionaire Eike Batista, raising the prospect of a bailout of the…
Brazil group eyes IPO despite poor market
Brazilian cement group Votorantim Cimentos has become the latest to join a queue of companies looking to launch initial public offerings in spite of a poorly performing market. The cement…
Brazil expects bumper sugar crop
Expectations of a bumper Brazilian cane crop weighed on sugar prices, as bears were undeterred by harvest delays caused by heavy rains. Cane output in the centre-south region, which accounts…
Chile loses allure for copper projects
Chile risks losing its position as the leading destination for investment by the copper mining industry as runaway cost inflation makes new projects uncompetitive, global mining executives have warned. The…