Petronas enters the market and Texaco makes a return, while Larco, Ale, and SIM vie for top rankings 12/09/2024 The entry of new brands into Brazil’s fuel distribution market, such as Petronas and Texaco—making a comeback after 16 years—along with the accelerated growth of medium-sized distributors, has shifted the balance of power in the sector in 2024. […]
Trade surplus hits $7bn, down 20% year-on-year, as imports outpace exports 12/06/2024 Oil has set a new record in export value for the year through November, becoming Brazil’s top exported product for the first time since the country began tracking trade balance data in 1997. The export of the commodity totaled $42.76 billion over the […]
China’s fifth-largest automaker plans R$5.8bn investment to start production in Brazil 12/06/2024 Automakers setting up operations in Brazil typically begin by establishing dealerships, factory infrastructure, and staff training. GAC, the fifth-largest carmaker in China, is taking a different approach. As it enters the Brazilian market, its first move was to ink partnerships with local universities […]
At Vale Day, company emphasizes iron ore production flexibility amid challenging scenario 12/06/2024 Vale CEO Gustavo Pimenta said the company is studying the Bahia Mineração (Bamin) project but no investment decision has been made. He commented on the topic on Tuesday (3), during Vale Day, a company meeting with investors, at the New York Stock […]
Lower House is moving to limit loan capabilities; industrial sector criticized measure, citing risks 12/05/2024 In a setback for the Lula administration, the Constitutional and Justice Committee (CCJ) of Brazil’s Lower House approved on Wednesday (4) a constitutional amendment proposal (PEC) mandating that loans from federally controlled state-owned banks require congressional approval when involving international operations. […]
Controlled by Appian funds, Vale Verde focuses on ore processing 12/05/2024 Chinese mining group Baiyin Nonferrous is acquiring Brazil’s Mineração Vale Verde, owned by British private equity manager Appian Capital Advisory, Valor’s business website Pipeline learned. The mining company operates the Serrote mine in the state of Alagoas, specializing in copper concentrate production. The acquisition […]
Gas volumes confirmed at the site surpass 6 trillion cubic feet 12/05/2024 Petrobras and Colombian company Ecopetrol have announced the largest gas discovery in Colombia’s history with the drilling of the Sirius-2 well, where gas volumes exceeding 6 trillion cubic feet (Tcf) have been confirmed. The consortium is set to invest $1.2 billion in the […]
Milken Institute hosts São Paulo meetings to showcase sustainable investment opportunities 12/02/2024 Executives from the Milken Institute, an American think tank that connects philanthropists and investors globally, are holding their first major event in São Paulo this week. The gathering brings together entrepreneurs, CEOs, public officials, and environmental specialists to explore investment opportunities, particularly in […]
Dec 2, 2024 TORONTO, Dec. 02, 2024 (GLOBE NEWSWIRE) — Belo Sun Mining Corp. (“Belo Sun” or the “Company”) (TSX: BSX, OTCQB:BSXGF) reports that the Federal Court of Altamira, has ruled on a case filed by the Federal Public Defender’s Office (DPU) and the Public Defender’s Office of the State of Pará (DPE) in 2022 contesting the […]
Lack of fiscal sustainability drives projections for a stronger U.S. dollar and higher interest rates 12/02/2024 The long-awaited announcement of Brazil’s fiscal measures, which had been seen as a potential stabilizer for domestic assets amid worsening conditions in global markets, has instead fueled further deterioration in local prices. Experts warn that higher levels for the […]