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

Gold Fields Halts Peru Exploration Project on Protest

By Nathan Gill Sept. 18 (Bloomberg) — Gold Fields Ltd. and Cia. de Minas Buenaventura SA halted exploration of their Titan-Arabe gold and copper deposit in northern Peru after protests by local residents turned deadly, the head of the joint venture said. “We saw that there were constant threats, so we took the decision to… Read More Gold Fields Halts Peru Exploration Project on Protest

Peru’s Talara Refinery Production Unaffected by Fire

By Nathan Gill Sept. 14 (Bloomberg) — Petroleos del Peru SA, the oil producer known as Petroperu, said a fire at its Talara refinery in northern Peru didn’t affect production. The fire, which started yesterday in the refinery’s vacuum distillation unit as a pressure meter was being installed, was “immediately controlled” and operations continued normally,… Read More Peru’s Talara Refinery Production Unaffected by Fire

Chile’s Edelnor Rallies After Submitting Lowest Supply Bids

By James Attwood and Nathan Gill Sept. 9 (Bloomberg) — Chile’s Empresa Electrica del Norte Grande SA rose the most in three months after announcing it offered the lowest price in bidding for new supply contracts. The northern Chilean electricity producer known as Edelnor rallied 8.3 percent to 742 pesos in Santiago trading, the steepest… Read More Chile’s Edelnor Rallies After Submitting Lowest Supply Bids

Chile’s Arauco Sees Asia Recovery Driving Pulp Prices

By Nathan Gill Sept. 8 (Bloomberg) — Celulosa Arauco y Constitucion SA, the world’s second-biggest pulp maker, said a recovery in Asian markets is boosting the price of pulp. Demand for pulp at the forestry unit of Empresas Copec SA, Chile’s largest publicly traded company by market value, touched bottom last quarter and probably will… Read More Chile’s Arauco Sees Asia Recovery Driving Pulp Prices

Chile Mudslide Kills 1 at Anglo Mine, Codelco Not Hit

By Nathan Gill and Matthew Craze Sept. 7 (Bloomberg) — A road to Anglo American Plc’s Los Bronces copper mine in central Chile was hit by a mudslide, killing one worker. Mining operations weren’t affected. Luis Rene Zurita Martel, a 52-year old contract employee at Anglo’s Los Bronces mine was killed today when the mudslide… Read More Chile Mudslide Kills 1 at Anglo Mine, Codelco Not Hit

Chile’s Copec Rises Most in Two Weeks on Earnings Outlook

By Nathan Gill Sept. 2 (Bloomberg) — Empresas Copec SA, Chile’s largest producer of wood pulp, rose the most in two weeks on the prospect that gains in pulp prices may bolster earnings. The nation’s largest publicly-traded company gained 2.4 percent to 6,620 pesos in Santiago trading, its steepest climb since August 18. The BHKP… Read More Chile’s Copec Rises Most in Two Weeks on Earnings Outlook

Antofagasta Says Copper Demand to Increase This Month

By Matt Craze and Nathan Gill Sept. 1 (Bloomberg) — Antofagasta Plc, the copper producer controlled by Chile’s Luksic family, expects copper demand to increase this month, a company executive said. Demand should recover in September as industrial production in China expands and summer vacations in the northern hemisphere end, Marcelo Awad, chief executive officer… Read More Antofagasta Says Copper Demand to Increase This Month

Chile’s Vapores and Samsung Heavy Reach Deal on Ship Contracts

By Nathan Gill Aug. 18 (Bloomberg) — Chile’s Cia. Sudamericana de Vapores SA, Latin America’s largest container ship company, reached an agreement with Samsung Heavy Industries Co. to change its ship-building contracts. Vapores, as the company is known, will buy five ships worth a total of $625 million from Seoul-based Samsung Heavy, the world’s second-largest… Read More Chile’s Vapores and Samsung Heavy Reach Deal on Ship Contracts

Chile’s Peso Falls as Copper Declines; Peruvian Sol Slides

By James Attwood and Nathan Gill Aug. 17 (Bloomberg) — Chile’s peso fell to a two-month low after copper, the country’s biggest export, declined and the U.S. dollar strengthened against major currencies. Chile’s currency, up 14 percent so far this year, dropped 1.3 percent to 558.75 per U.S. dollar at 12:01 p.m. New York time,… Read More Chile’s Peso Falls as Copper Declines; Peruvian Sol Slides

Chile’s Multiexport Foods Says First-Half Loss Widens on Salmon Virus

By Nathan Gill Aug. 15 (Bloomberg) — Multiexport Foods SA, Chile’s biggest publicly-traded salmon producer, said its first-half net loss widened on higher costs and lower sales related to a virus that has depleted fish stocks. The loss widened to $48.7 million from a $11.4 million loss in the year-earlier period, according to data posted… Read More Chile’s Multiexport Foods Says First-Half Loss Widens on Salmon Virus

Chile’s CMPC Rallies on Speculation Pulp Outlook Is Improving

By James Attwood and Nathan Gill      July 20 (Bloomberg) — Empresas CMPC SA, Chile’s second-biggest pulp producer, rose the most in 10 weeks on speculation that recovering demand and prices will boost earnings.      CMPC, controlled by Chile’s Matte family, climbed 6.7 percent to 15,591 pesos in Santiago trading. It was the biggest jump… Read More Chile’s CMPC Rallies on Speculation Pulp Outlook Is Improving

Chile’s Soquimich Falls Most in Two Weeks on Demand Outlook

By Nathan Gill      July 6 (Bloomberg) — Sociedad Quimica y Minera de Chile SA, Chile’s biggest fertilizer producer, dropped the most in two weeks on concern that a slump in grain prices may limit demand for the company’s products.      The Santiago-based company known as Soquimich fell 1.3 percent to 19,674 pesos in Santiago… Read More Chile’s Soquimich Falls Most in Two Weeks on Demand Outlook

Chile’s Copec Rises to One-Year High on Profit, Commodities

By Nathan Gill and James Attwood      June 1 (Bloomberg) — Empresas Copec SA, Chile’s biggest forestry company, rose to the highest in almost a year as first-quarter profit matched some analysts’ estimates and raw-material prices advanced.      Copec climbed 1.4 percent to 7,190 pesos in Santiago trading, the highest since June 13. The… Read More Chile’s Copec Rises to One-Year High on Profit, Commodities

Anglo American to Invest $500 Million in Chile Copper Mine

By Nathan Gill April 2 (Bloomberg) — Anglo American Plc will invest $500 million in its Los Bronces copper mine in Chile this year, Chilean Mining Minister Santiago Gonzalez said. An expansion project at the mine could create 4,000 jobs by the beginning of 2010, Gonzalez, chairman of Chile’s state-run mining company, Codelco, said today… Read More Anglo American to Invest $500 Million in Chile Copper Mine

Cap Gains as China Speculation Eases Price Concern

By James Attwood and Nathan GillMarch 4 (Bloomberg) — Cap SA, Chile’s biggest steel and iron-ore producer, rose the most in a month on speculation Chinese stimulus spending will limit iron-ore price declines.      Cap gained 4.3 percent to 8,211 pesos, the steepest increase since Feb. 5. The stock dropped 11 percent last week.     … Read More Cap Gains as China Speculation Eases Price Concern

Ecuador Petroamazonas Wants $820 Million for Amazon Oil Fields

By Nathan Gill Feb. 13 (Bloomberg) — Ecuador’s President Rafael Correa met yesterday with representatives of state-owned oil company Petroamazonas SA to discuss the $820 million needed to finance four new oil fields in the nation’s Amazon rain-forest region. Petroamazonas is seeking joint ventures with companies including Schlumberger Ltd., the world’s largest oilfield-services provider, to… Read More Ecuador Petroamazonas Wants $820 Million for Amazon Oil Fields

Chile Projects Delayed, Canceled on Lack of Funding (Update1)

By Nathan Gill      Jan. 26 (Bloomberg) — Companies in Chile have delayed or canceled about a quarter of their planned investments, according to Chile’s Technological Development & Capital Goods Corp.      About $17 billion of the $64 billion of planned investments in mining, real-estate, industrial, forestry and energy projects planned through 2012 were shelved… Read More Chile Projects Delayed, Canceled on Lack of Funding (Update1)

Chile Announces New Credits for Salmon Producers

By Nathan Gill      Nov. 27 (Bloomberg) — Chile will offer credit lines of up $8 million for producers of salmon affected by an outbreak of infectious anemia in the country’s south, President Michelle Bachelet said today.      Chile will grant credit lines of up to $8 million for sanitary and environmental investment projects, for… Read More Chile Announces New Credits for Salmon Producers

Chile Steelmaker Cap Says Demand May Strengthen by Mid-2009

By Nathan Gill and Heather Walsh      Nov. 27 (Bloomberg) — Cap SA, Chile’s largest steelmaker, said demand for steel will begin to rise by the middle of next year after slumping because of a global economic recession.      Cap had expected a faster rebound, Chairman Roberto De Andraca said today in a speech in… Read More Chile Steelmaker Cap Says Demand May Strengthen by Mid-2009