Ecuador habló: La minería es peor que Correa

(Published originally in Mediato) El referéndum del 4 de febrero fue significativo. En su nivel más obvio, le dio al presidente Lenín Moreno una sólida victoria política y al expresidente Rafael Correa una derrota asombrosa. Pero más allá de las reacciones en Quito, los votantes en las zonas mineras de la Sierra y el Oriente… Read More Ecuador habló: La minería es peor que Correa

Latin America Oil Producers Call for Action to Improve Prices

By Nathan Gill and Andrew Willis April 8, 2016 (Bloomberg News) — Oil-producing countries must take the necessary steps to stabilize the global crude market in a bid to improve prices, Ecuador Foreign Minister Guillaume Long said on behalf of Latin American nations after a gathering in Quito. Waiting for the market to balance itself would… Read More Latin America Oil Producers Call for Action to Improve Prices

Ecuador Cocoa Forecast Cut to 230,000 Tons After Rains Hit Crops

By Nathan Gill (Bloomberg) — Ecuador, the world’s biggest grower of flavored beans used in fine chocolate, will probably lose about 15 percent of this year’s cocoa crop after heavy rains hurt farms in the Andean nation’s coastal region, the National Cocoa Exporters Association said. Anecacao, as the association is known, reduced its 2015 forecast… Read More Ecuador Cocoa Forecast Cut to 230,000 Tons After Rains Hit Crops

China’s Andes Said to Join Repsol in Ecuador Oil Drilling Freeze

By Nathan Gill and David Wethe  (Bloomberg) — Andes Petroleum Ecuador Ltd. and Repsol SA, Ecuador’s two biggest foreign oil producers, are shelving plans to drill exploratory wells amid a payment dispute with the OPEC nation’s government, according to two people with direct knowledge of the matter.  Andes, owned by China National Petroleum Corp. and… Read More China’s Andes Said to Join Repsol in Ecuador Oil Drilling Freeze

Peru Top Cement Maker Unacem Says Exports to Offset Mining Slump

By Nathan Gill (Bloomberg) — Union Andina de Cementos SAA, Peru’s biggest cement supplier, expects growth in exports will help offset weakening demand from local miners. Overseas sales of clinker, an ingredient in cement production, will surge 18 percent to about 500,000 metric tons this year, Ricardo Rizo Patron, chairman of the company, said Wednesday… Read More Peru Top Cement Maker Unacem Says Exports to Offset Mining Slump

Mining for the Nation: Jody Pavilack

When Chile granted literate men over the age of 21 the right to vote in 1925, a new era marked by the rise of mass society had begun.[1] Similar to processes unfolding around the world, the enfranchisement of progressively-larger swaths of Chile’s population in the early-twentieth century upended traditional politics and undermined the economic status… Read More Mining for the Nation: Jody Pavilack

Chile’s Soquimich Falls to Seven-Week Low on Earnings Decline

By Nathan Gill Oct. 28 (Bloomberg) — Sociedad Quimica y Minera de Chile SA, Chile’s biggest fertilizer producer, tumbled to the lowest price in seven weeks after reporting a 57 percent drop in third-quarter profit. The Santiago-based company, known as Soquimich, retreated 2 percent in Santiago trading to 19,470 pesos, the lowest since Sept. 7.… Read More Chile’s Soquimich Falls to Seven-Week Low on Earnings Decline

Soquimich Profit Drops 57% on Lower Fertilizer Sales

By James Attwood and Nathan Gill Oct. 27 (Bloomberg) — Sociedad Quimica y Minera de Chile SA, Chile’s biggest fertilizer producer, reported a 57 percent drop in third-quarter profit as lower prices dragged down sales. Net income fell to $82.3 million from $191 million a year earlier, the Santiago-based company known as Soquimich wrote today… Read More Soquimich Profit Drops 57% on Lower Fertilizer Sales

BHP Spence Copper Workers End Chile Wage Negotiations

By Matt Craze and Nathan Gill Oct. 26 (Bloomberg) — BHP Billiton Ltd. workers at the company’s Spence copper mine in Chile broke off wage talks with management, according to a union official. Workers at the mine, who began the 14th day of a strike today, will stage protests after government-mediated talks failed, union President… Read More BHP Spence Copper Workers End Chile Wage Negotiations

BHP Says Spence Output Continues at ‘Reduced Rate’

By Nathan Gill Oct. 20 (Bloomberg) — BHP Billiton Ltd., the world’s biggest mining company, said copper production at its Spence mine in northern Chile continues at a “reduced rate” as a strike by workers enters an eighth day, an official said. BHP declined to specify the current production rate, according to Ruban Yogarajah, a… Read More BHP Says Spence Output Continues at ‘Reduced Rate’

Strike at BHP’s Spence Mine in Chile Enters 5th Day

By Nathan Gill Oct. 17 (Bloomberg) — BHP Billiton Ltd., the world’s biggest mining company, said a strike at the company’s Spence copper mine in Chile entered a fifth day. Copper output at the Melbourne-based company’s 200,000-ton-a-year mine continued at a slower rate, spokesman Ruban Yogarajah said today in a telephone interview from London. Unionized… Read More Strike at BHP’s Spence Mine in Chile Enters 5th Day

BHP’s Spence Mine Copper Producing at ‘Slower Rate’

By Nathan Gill Oct. 16 (Bloomberg) — BHP Billiton Ltd., the world’s biggest mining company, said copper output at its 200,000-ton-a-year Spence mine in Chile continues at a “slower rate” as a strike by workers entered a fourth day. Production was “the same as yesterday,” spokesman Mauro Valdes responded by text message to questions from… Read More BHP’s Spence Mine Copper Producing at ‘Slower Rate’

BHP to Stop Copper Output at Spence Mine, Union Says

By Nathan Gill and Matthew Craze Oct. 15 (Bloomberg) — BHP Billiton Ltd. will cease production of refined copper tomorrow at its 200,000-ton-a-year Spence copper mine in Chile because of a strike, a union leader said. Workers stopped mining on Oct. 13, leaving BHP without enough raw materials to be turned into refined copper, union… Read More BHP to Stop Copper Output at Spence Mine, Union Says

Codelco Won’t Sell Bonds This Year, May Start in 2010

By Nathan Gill Oct. 8 (Bloomberg) — Codelco, the world’s largest copper producer, said it won’t tap bond markets this year after Congress approved a bill to provide $1 billion in financing. Codelco may look to sell bonds from next year, Chief Executive Officer Jose Pablo Arellano told reporters today in Santiago. The company will… Read More Codelco Won’t Sell Bonds This Year, May Start in 2010

Chile’s Antofagasta Port Ends Strike, Restarts Copper Shipments

By Nathan Gill Oct. 7 (Bloomberg) — Copper shipments from northern Chile’s Antofagasta port restarted today after two weeks of delays caused by a labor strike, the port’s operator said. The 14-day strike ended last night, Tamara Rebolledo, a spokeswoman for Antofagasta Terminal Internacional SA, said today in a telephone interview. The strike affected some… Read More Chile’s Antofagasta Port Ends Strike, Restarts Copper Shipments

Chile Reduces Estimate for This Year’s Budget Deficit

By Sebastian Boyd and Nathan Gill Oct. 7 (Bloomberg) — Chile’s budget deficit will be smaller this year than earlier forecast as rising copper prices trimmed the projected shortfall in tax revenue. This year’s budget deficit will be about 3.6 percent of gross domestic product as government income falls 22 percent short of initial projections,… Read More Chile Reduces Estimate for This Year’s Budget Deficit

Chile Senate Approves $1 Billion Funding for Codelco

By Nathan Gill and Sebastian Boyd Oct. 6 (Bloomberg) — Chile’s Senate approved a bill to provide $1 billion in financing for Codelco, the world’s largest copper producer. The vote was 21-to-six with one abstention in the Senate, which acted after the lower house passed the bill earlier today, according to a statement on the… Read More Chile Senate Approves $1 Billion Funding for Codelco

Chile’s Soquimich Falls Most Since June on Lithium Price Cuts

By Nathan Gill Oct. 1 (Bloomberg) — Sociedad Quimica y Minera de Chile SA, the world’s largest lithium producer, led declines on Santiago’s Ipsa Index after announcing price cuts for the metal used in batteries. Soquimich, as the company is known, fell 3.6 percent to 20,630 pesos, the steepest decline since June 22. The Ipsa… Read More Chile’s Soquimich Falls Most Since June on Lithium Price Cuts

Chile Copper Output Rises 7.8% on Codelco, BHP Mines

By Nathan Gill Sept. 30 (Bloomberg) — Copper output in Chile, the world’s biggest producer, rose 7.8 percent in August from a year earlier after state-owned Codelco and BHP Billiton Ltd. boosted production, the government said. Output increased to 459,823 metric tons from 426,689 tons a year earlier, the country’s national statistics agency said in… Read More Chile Copper Output Rises 7.8% on Codelco, BHP Mines

Molymet Says Chile Plant Operations Normal After Fire

By James Attwood and Nathan Gill Sept. 30 (Bloomberg) — Molibdenos y Metales SA, the world’s largest molybdenum processor, said a plant near Santiago is operating normally after a fire broke out this morning. Industrial installations at the San Bernardo plant weren’t damaged and no one was injured in the blaze, the Santiago-based company, known… Read More Molymet Says Chile Plant Operations Normal After Fire

Dell’s Peixoto Sees ‘Huge’ Growth Potential in Latin America

By Nathan Gill Sept. 28 (Bloomberg) — Dell Inc., the world’s second-biggest maker of personal computers, sees “huge” prospects for growth in Latin America, where the company is looking to provide technology to Brazil’s oil industry. “Growth potential is huge in Latin America and Brazil,” Raymundo Peixoto, Dell’s manager for Brazil, said today in an… Read More Dell’s Peixoto Sees ‘Huge’ Growth Potential in Latin America

Antofagasta Seeks Funds to Expand Biggest Copper Mine

By Matt Craze and Nathan Gill Sept. 28 (Bloomberg) — Antofagasta Plc, which is planning a $1 billion expansion of its biggest copper mine, will seek financing by year-end for the project in Chile, Chairman Jean-Paul Luksic said. “We are looking for financing with banks overseas, and it most probably won’t be through bonds, it… Read More Antofagasta Seeks Funds to Expand Biggest Copper Mine