Argentina

Brazil and Argentina signed a memorandum of understanding (MOU) on Monday to study the advancement of infrastructure for natural gas exports to Brazil, according to a source near to the matter. The MOU will create a working group to identify the steps needed to make the supply of gas from Argentina to Brazil practical, with emphasis on gas from Argentina's huge Vaca Muerta development, Brazil's Energy Ministry said in a statement revealing the agreement was to be signed. The working group will evaluate possible paths for the gas to reach Brazil, including the turnaround of flow of Bolivia's. pipeline, a...

A trade contract in between the European Union and Mercosur countries, which includes a. significant area on farming, has triggered demonstrations from. EU farmers who argue farm imports from South America do not meet. European requirements. The agreement dating from 2019 and published on the. Commission website has yet to be embraced. It includes the. facility of import quotas of specific farming products. from Mercosur nations, including Argentina, Brazil, Paraguay. and Uruguay, either duty complimentary or at lowered levy. The agreement would also give EU farmers increased access to. South American markets which could enhance exports of products. such as...

A group of previous leaders and climate specialists said the annual U.N. police officer climate talks were no longer suitable for function and needed to be reformed, releasing a. crucial open letter midway through what has actually up until now been a. fractious summit. Almost 200 nations are gathered in Baku, Azerbaijan with a. main goal of agreeing a new target for how much cash needs. to be provided to assist developing nations adapt to environment. modification and recuperate from destructive weather. Up until now those talks have actually made little development. Delegates struggled for hours on the opening day...

A group of previous leaders and environment experts stated the annual U.N. police officer environment talks were no longer suitable for purpose and required to be reformed, publishing a. crucial open letter midway through what has actually up until now been a. fractious summit. Almost 200 nations are gathered in Baku, Azerbaijan with a. main goal of agreeing a new target for how much money needs. to be provided to assist developing nations adjust to climate. modification and recuperate from harmful weather condition. So far those talks have made little progress. Delegates struggled for hours on the opening day to...

The cabinet chief to Argentine President Javier Milei cited oil major Shell as a. possible investor in a future liquefied gas (LNG). job to be run by the nation's state oil firm YPF. , according to paper La Nacion. Cabinet Chief Guillermo Francos stated at an occasion that the. Anglo-Dutch giant has actually shown strong interest in a potential. investment in LNG together with YPF, according to La Nacion. Shell did not right away respond to an ask for remark. One LNG project led by YPF has already seen significant. advances. The $55 billion preliminary stage of the LNG tie-up...

Argentina likely had actually a. trade surplus for the tenth straight month in September under. libertarian President Javier Milei, helping to collect an internet. $ 16 billion in hard currency considering that he took office, analysts said. in a Reuters survey on Wednesday. The South American country, which is facing triple-digit. inflation, an unpleasant recession and depleted foreign currency. reserves, had a trade surplus of $1.28 billion in September, the. average expert price quote showed. That would add up to a net surplus of around $16.5 billion. since December, when Milei took workplace vowing a significant shake-up. of the economy....

Argentina's state oil company YPF said on Monday it will lower gas and gasoil prices starting on Tuesday. The firm's cost decrease will be 4% on fuel and 5% on diesel, however the influence on pump prices will be restricted to reductions of 1% and 2%, respectively, YPF said in a statement. The reduction will not be straight shown at the pump, because there is a 3% boost in the price of gas as a. outcome of the Argentine peso's decline and the tax boost,. YPF stated. The company likewise kept in mind that its choice to cut fuel prices....

India and the United States are most likely to sign an initial pact for cooperation on vital minerals this week, two federal government sources said, as the 2 countries attempt to reinforce trade ties despite diplomatic hiccups. They are expected to sign an agreement to partner and work together in the location of important minerals during Indian trade minister Piyush Goyal's see to Washington, the sources said. Goyal is set up to be in the U.S. today to go over methods to deepen total bilateral trade ties, according to among the sources, weeks before the White Home's preparation for a....

The U.S. federal government said on Monday it might get associated with a disagreement over whether Argentina should quit its 51% stake in oil and gas business YPF to assist satisfy a $16.1 billion court judgment. In a letter filed with the U.S. District Court in Manhattan, the U.S. Department of Justice said it is actively thinking about whether to submit a so-called declaration of interest, which it can file when a case touches on its sovereign interests. Argentina is appealing U.S. District Judge Loretta Preska's. decision last September to award 2 financiers, represented by. litigation funder Burford Capital, the...

Argentina's mining exports will more than double to around $10 billion in 2027 from some $4 billion this year, the nation's Mining Secretary Luis Lucero told Reuters, driven by a wave of lithium jobs coming online and a nascent push into copper. In his very first comments to worldwide media since taking office in April, Lucero stated electrical battery metal lithium would be the key driver of the mining export boom, with a batch of tasks set to go into production later on this year. The South American nation is making an aggressive push to cement itself as an essential...

A possible upgrade for Argentina to emerging market status from index provider MSCI could see nearly $1 billion in financier money put into the nation's stocks, JPMorgan said on Tuesday. MSCI classifies Argentina as a Standalone Market instead of as part of its commonly followed suite of emerging market indexes. The index supplier relegated Argentina in November 2021 in the middle of market accessibility concerns, consisting of hard capital controls that limited investors' ability to replicate the index. Argentina's federal government under President Javier Milei has actually been on a significant reform push and has actually vowed to move into...

Argentina's state oil firm YPF reported on Thursday its net earnings climbed up almost 41% in the second quarter, beating analyst expectations as domestic need for diesel grew and oil exports increased. YPF, one of Argentina's top fuel suppliers, published a $535. million earnings, above the typical analyst estimate of $309. million assembled by LSEG. The firm mentioned greater seasonal sales of gas and. farming items, along with local demand for diesel,. better fuel prices and higher petroleum exports as essential to the. revenue boost. Earnings, on the other hand, rose nearly 13% compared to the year-ago. quarter to $4.94...

The following are the top stories in the Financial Times. Reuters has not confirmed these stories and does not attest their precision. Headings - HSBC evaluates retail banking outside UK and Hong Kong - De La Rue in talks over stake with Edi Truell-backed financiers - Rio Tinto to invest $2.5 bln in latest dedication to lithium - Lead overhauls charges for UK investors Introduction - HSBC is reviewing its retail banking operations outside the UK and Hong Kong, a move that might see it considerably downsize operations in nations including Mexico, as it seeks additional expense cuts. - Banknote...

Rio Tinto will invest $2.5. billion to increase production capability at its Argentina lithium. project, it said on Thursday, as it seeks to cement its position. as one of the world's most significant miners of the battery metal. The investment follow's Rio's takeover of Arcadium Lithium. in a $6.7 billion deal announced in October, and as. prices of the metal utilized in electrical cars (EVs) are damaged. by Chinese oversupply and slowdown in EV sales. Following the purchase of Arcadium, Rio is on track to. become the world's 3rd largest lithium miner, behind leader. Albemarle and Chile's SQM. As part...

Argentina's mining exports are anticipated to increase nearly 6% this year, raised by more lithium sales in addition to greater gold and silver rates, the head of the nation's top mining association said on Wednesday. Argentina's mining sector generated $4.06 billion in exports last year, fueled by the battery metal lithium and valuable metals gold and silver. Exports this year will likely approach $ 4.3 billion, said Roberto Cacciola, head of the CAEM mining association. The 2 metal types provided contrasting situations, he noted. Both gold and silver rates rose this year, assisting Argentina balanced out declining output in aging...

A lithium innovation start-up backed by Rio Tinto anticipates to settle a funding round in the next week to raise A$ 29 million ($ 19. million), even as the global lithium market has a hard time, its. Melbournebased CEO informed Reuters. ElectraLith is establishing a purification innovation that can. extract lithium from brine deposits without utilizing water or. chemicals, which would be key in arid areas like Chile's Atacama. desert, and requires only small amounts of energy. The lithium market is not great, equity capital markets. aren't great, (so) the fact we will close this round. with an oversubscribed financier...

From northern Quebec's tundra to Argentina's Andes Mountains and the plateaus of Western Australia, Arcadium's lithium portfolio, brought together over nearly 40 years, has actually lured Rio Tinto as it bids to be a top manufacturer of the EV battery metal at an advantageous point in the market cycle. Arcadium's mix of active mines, lithium deposits filled with decades of supply, and some of the industry's most advanced processing centers would complement Rio's output of copper, iron ore and other important minerals and assist the Anglo-American mining giant expand its footprint in the worldwide energy shift. So far the market...

V enezuela opposition leader Maria Corina Machado stated on Monday that the nation's opposition has 73.2% of the voting tallies from Sunday's election, allowing it to show election results it states provide it a victory. Individually, an opposition advisor, among 6 living in the Argentine embassy because warrants were released for their arrests, stated on social networks that security forces were trying to go into the structure. Right now, DAET authorities are attempting to storm the residence of Argentina's embassy in Caracas where the six asylum candidates from Maria Corina Machado and Edmundo Gonzalez's. campaign are, Pedro Urruchurtu said in...

Argentina has big aspirations for the untapped copper riches in its Andean north. It wishes to be a top 10 global manufacturer and has actually attracted investors such as Glencore, Lundin Mining and First Quantum Minerals. However unlocking its prospective won't be easy. The nation, and new libertarian President Javier Milei, need to fix the economy first, with the majority of huge copper tasks being stalled by strict capital controls, near 300% inflation and high tax rates. Even as copper costs struck record highs, that has actually taken some of the shine off optimism a year earlier, when regional officials...

Dubaibased United Mining Projects Corporation (UMPC) prepares to start producing batterygrade lithium in Argentina next year, intending to provide 5,000 metric tons in 2027 and double that in 2028, CEO Bradley Pielsticker stated in an interview. Argentina is the world's fourth-largest lithium producer, with a pipeline of jobs led by international business set to increase in the coming months. UMPC will run in Argentina's Catamarca province through its subsidiary Marhen Lithium, and is presently evaluating its first production samples, Pielsticker stated in the interview on Friday, after last month revealing a $550 million financial investment in the job. The business...

Eramine Sudamerica is set to inaugurate its first lithium carbonate plant in the northern Argentine province of Salta this July, setting it on track to become the South American country's 4th manufacturer of the key battery metal. The group, owned by French miner Eramet and Chinese steelmaker Tsingshan, anticipates to produce some 3,000 heaps this year and ramp up to some 24,000 lots by 2025, the business's. sustainability director Constanza Cintioni told in an. interview. Lithium, which is utilized for batteries in cellphones and. electric vehicles (EV), saw its price skyrocket over current. years, before plunging in 2023 mainly due...

Argentina's mining exports grew 4.3% in 2023 throughout the years, driven by lithium, an industry group stated on Friday, expressing confidence that the nation's ample metals and minerals deposits can assist raise the economy from a prolonged crisis. Exports reached $4.032 billion last year, Roberto Cacciola, president of the Argentine Chamber of Mining Business Owners ( CAEM), said in a conference with journalists late on Thursday. Lithium exports grew 20% over 2022 despite the collapse of worldwide standard rates, while production increased 31%,. CAEM said. Argentina is the world's fourth-largest producer of the. white metal, a vital component in electric...

Steelmaker Ternium on Wednesday published a. first-quarter net earnings that edged up 2%, moved by bigger. shipments of steel even as it forecasted that margins could. shrink in the coming months. Ternium, which produces flat steel products for. industrial use, published a net earnings of $491 million while its. net sales increased by about a third to reach $4.8 billion throughout the. quarter. The company's steel shipments during the. January-to-March period, meanwhile, leapt 27% year-on-year to. struck 3.9 million metric loads. Both metrics landed above projections of analysts polled. by LSEG, who had actually estimated profits of $325 million and...

Brazil's. government on Tuesday decided to establish import quotas for 11. steel items and to impose higher taxes on them when those. volumes are exceeded, after steelmakers complained about inexpensive. foreign steel flooding the regional market. The relocate to hike import tariffs to 25% will be requested. 12 months on products such as types of rolled steel and pipes,. which currently have import costs of 9% to 12.6%, according to. the decision from state foreign trade body Gecex/Camex. Vice President Geraldo Alckmin informed press reporters the 25% tax. will be imposed when imports of each of these 11 steel products....