Brazil

Brazilian steelmaker and miner CSN reported a thirdquarter bottom line of 750.9 million reais ($ 130.6 million) on Wednesday, a sharp decline from the 91 million reais revenue tape-recorded a year earlier. WHY IT is very important CSN is among Brazil's biggest steelmakers and miners. BY THE NUMBERS The steelmaker reported 2.28 billion reais in adjusted revenues before interest, taxes, depreciation and amortization for the 3rd quarter, down 18.9% from a year earlier It published gross earnings of 2.73 billion reais, down 3%. year-on-year, and stated net profits fell 0.5% to 11.07 billion. reais. Its steel and iron ore sales...

Fertilizer producer Mosaic missed Wall Street quotes for thirdquarter earnings on Tuesday, harmed by production snags, and said its Chief Financial Officer Clint Freeland would retire. Mosaic had cut its third-quarter production projection in September following equipment failures in Canada and cyclones at the U.S. Gulf Coast. Shares of the company fell 1.7% premarket. The company also appointed Luciano Siani Pires as its new Chief Financial Officer, who will begin with Jan. 1. Pires is successful Freeland who is retiring from his role as executive vice president and CFO, but will continue as a senior consultant until July 1. Siani...

Shares in Australia's iron ore miners slumped on Monday after another round of stimulus steps by their leading consumer China dissatisfied financiers who had actually hoped for procedures that would enhance products demand. Iron ore costs moved to their lowest in more than two weeks on Monday after China's newest $1.4 trillion bundle unveiled on Friday used no direct financial stimulus. BHP Group, the world's largest noted miner, lost around 4% in its worst day in more than six months, while the world's most significant iron ore manufacturer Rio Tinto shed 3.1%. to clock its worst day considering that mid-August....

AngloGold Ashanti rebounded to a thirdquarter earnings on greater gold prices, after suffering a. loss in the corresponding duration due to reorganizing costs and. other oneoff factors, the miner said on Thursday. The gold miner reported headline profits of $236 million in. the quarter to Sept. 30, compared to a headline loss of $194. million throughout the same duration last year. AngloGold's income during the September quarter of 2023 was. impacted by costs associated with switching its main listing. from Johannesburg to New York, and moving its headquarters from. South Africa to London. There were also problems and losses on...

Mexico is on the right course to develop its steel industry however Argentina and Brazil are still falling short of their potential, top officials of three regional producers said. WHY IT MATTERS The steelmakers - Ternium, Gerdau, and the Brazil system of ArcelorMittal - have long suffered an unreasonable playing field in the area, stating China engages in discarding, or flooding markets with material sold listed below market price. In recent months, Mexico has slapped tariffs on some steel imports and presented a program to track products' nation of origin, as producers say China ships steel through 3rd nations before...

Russia is in talks with other BRICS members about creating a worldwide rare-earth elements exchange to make sure fair rates and trade growth, the country's. Financing Minister Anton Siluanov said in a statement on Thursday. Leaders of BRICS countries, which account for 37% of the. international economy, collected in the Russian city of Kazan this week. to go over efforts aimed at developing options to the. Western-dominated monetary and trade facilities. The system will consist of the creation of cost indications. for metals, requirements for the production and trade of bullion,. and instruments for certifying market individuals, clearing,. and auditing...

The UAE's International Resources Holding (IRH) stated it prepares to establish a copper trading center in Abu Dhabi as the firm widens its push into vital minerals. IRH, an arm of the United Arab Emirates' International Holding Company, has a trading target of majority a million metric tons of copper each year from next year, it said in a Linkedin post. It has said it is seeking to expand in copper mining after purchasing a 51% stake in Mopani Copper Mines in Zambia in a $1.1 billion deal. We are set to introduce a copper trading center in Abu Dhabi,...

China is on track to import record volumes of iron ore in October, increasing the divergence between the need for the steel raw material and the still weak output of the ended up product. China, which buys practically three-quarters of global seaborne iron ore, is likely to import as much as 120 million metric loads this month, according to vessel-tracking and port data. This would be a strong increase from the official custom-mades number of 104.1 million heaps in September, and likewise represent an all-time high, eclipsing the previous record of 112.7 million in July 2020. The strength in iron...

Rain is falling across the coffee growing regions of top producer Brazil after among the driest durations on record, but it may be too late for trees to fully recuperate before the new crop is collected, state farmers and specialists. Coffee prices have repeatedly hit multi-year peaks over the past two years, driving up the expense to customers worldwide and requiring some roasters to alter blends and lower the quality of the coffee they sell. Production issues in Brazil and Asia due to the fact that of unfavorable climate conditions have meant supply has lagged need for three years. If...

Sibanye Stillwater faces a $522 million compensation claim from investment company Appian Capital Advisory over the termination of a $1.2. billion offer to buy Appian's Brazilian nickel and copper mines,. the South African miner said on Monday. Appian currently declares damages of up to $522 million,. Sibanye spokesperson James Wellsted informed Reuters. Sibanye's. case is for that reason that Appian is entitled to either no or. significantly reduced damages. A representative for Appian declined to comment. London's High Court last week ordered Sibanye to compensate. Appian for the unsuccessful deal and said the damages would be. identified at a hearing...

Investment firm Appian Capital Advisory stated a High Court in London has actually ruled that Sibanye Stillwater must compensate it for losses which emerged after the South African miner terminated a $1.2 billion offer to purchase its Brazilian nickel and copper mines. A hearing to deal with the quantity of settlement will take location in November 2025, Appian stated in a declaration. The advisory firm lodged the case versus Sibanye seeking settlement after the Johannesburg-based rare-earth elements producer cancelled a deal to get Santa Rita and Serrote mines in Brazil in January 2022. Sibanye validated in a separate statement that...

Brazilian steelmaker Gerdau said on Thursday it expected its tactical. investments to overall 9.2 billion reais ($ 1.68 billion) primarily by. 2027, bumping up a previous price quote that ran up until 2026. WHY IT is necessary Gerdau is Brazil's biggest steelmaker. It owns 29. steelmaking plants and 2 iron ore mines, and has operations in. seven nations in the Americas, including the United States,. Mexico, Canada and Argentina. The company is holding a financier day on Thursday. BY THE NUMBERS Gerdau said in a securities filing that 3.4 billion reais of. its overall tactical CAPEX (capital expenditures) had currently....

Brazil's lower house of Congress approved a costs on Tuesday that sets guidelines for a carbon market in the nation, with the text now pending only approval from President Luiz Inacio Lula da Silva to end up being a. law. The bill, which had actually already gotten the thumbs-up from. the Senate, proposes two kinds of carbon credits markets: a. managed one, with a cap of emissions for particular sectors of. the economy, and a so-called volunteer market. WHY IT is necessary Companies typically purchase such credits to balance out a portion of. their greenhouse gas emissions, basically spending for...

Brazilian President Luiz Inacio Lula da Silva on Tuesday advised leaders of the Group of 20 major economies to accelerate their national environment targets, calling on them to reach net no climate emissions 5 to ten years ahead of schedule. Opening the last session of the G20 top in Rio de Janeiro, Lula recommended countries bring forward their targets to reach climate neutrality by 2040 or 2045, rather of 2050 as Brazil and lots of others have pledged. We need to do more and much better, Lula stated, keeping in mind that this is most likely the world's hottest year...

Joe Biden became the initially sitting U.S. president to visit the Amazon rainforest on Sunday, flagging the dangers of international warming often dismissed by Donald Trump, who gets in the White Home in January vowing to scrap procedures to eliminate environment change. Biden flew from Lima, Peru, to Manaus, the largest city in the Amazon, to meet with local leaders working to maintain the jungle, before continuing to Rio de Janeiro for a summit of the Group of 20 significant economies that will attend to problems from hardship to international governance and climate modification. Scientists state conservation of the Amazon...

This year's U.N. climate top COP29 is being held throughout yet another recordbreaking year of greater international temperature levels, including pressure to negotiations focused on suppressing environment change. The last worldwide scientific agreement on environment modification was released in 2021 through the Intergovernmental Panel on Climate Modification, however scientists state that evidence reveals international warming and its impacts are unfolding faster than anticipated. Here is some of the latest environment research: 1.5 C BREACHED? The world may currently have hit 1.5 degree Celsius (2.7 F) of warming above the average pre-industrial temperature - a. critical limit beyond which it is...

This year's U.N. environment top COP29 is being held during yet another recordbreaking year of higher worldwide temperatures, including pressure to settlements aimed at curbing climate modification. The last international clinical consensus on climate change was released in 2021 through the Intergovernmental Panel on Climate Change, however scientists state that proof shows worldwide warming and its impacts are unfolding faster than expected. Here is a few of the latest climate research: 1.5 C BREACHED? The world may currently have hit 1.5 degree Celsius (2.7 F) of warming above the typical pre-industrial temperature - a. critical threshold beyond which it is...

Brazil's government continued top-level discussions on Tuesday towards the statement of expected spending control steps seen as essential for sustaining fiscal rules, though it has actually not divulged when they will be revealed. Chief of Staff Rui Costa was set up to meet the ministers of social security and social development in the afternoon to advance talks on brand-new financial procedures, according to a declaration from Costa's office. Financing Minister Fernando Haddad previously stated the measures looked for to extend the life-span of a new fiscal structure signed by President Luiz Inacio Lula da Silva in 2015, which pairs main...

Brazilian authorities are preparing to get rid of unlawful gold miners from a Native reservation in the Amazon jungle that has been crisscrossed with informal airstrips and polluted with mercury, an authorities said. The Munduruku territory covers nearly 24,000 square km ( 9,000 square miles), about the size of the U.S. state of New Hampshire, and is home to 61 villages of Munduruku, Apiacas and other Native groups in an area understood for violent land conflicts. The Munduruku reservation has the second-most illegal mining in Brazil, according to a report seen from government company Censipam, which manages operations protecting the...

BHP said on Wednesday that accusations a pursuit of profit over security added to Brazil's worst environmental catastrophe were unlikely and unjustified, as the miner opened its defence to a massive claim at London's High Court. More than 600,000 Brazilians, 46 local governments and around 2,000 services are suing BHP over the 2015 collapse of the Mariana dam in southeastern Brazil, which was owned and run by BHP and Vale's Samarco joint venture. The dam's collapse released a wave of harmful sludge that eliminated 19 individuals, left thousands homeless, flooded forests and polluted the length of the Doce River. The...

Brazil's Petrobras is discussing a partnership with Vale to help the mining company lower carbon emissions, the staterun oil company's Chief Executive Magda Chambriard stated on Monday. WHY IT'S IMPORTANT The two Brazilian business are among the biggest in Latin America by market price. Chambriard said the companies will help each other decarbonize, with a possible handle which Petrobras would supply marine fuel and diesel with renewable material for Vale to run its trains, ships and trucks. ESSENTIAL QUOTE It's an effort by the two largest companies in Brazil towards decarbonization, Chambriard informed reporters. BY THE NUMBERS Petrobras is currently...

Firemens was successful on Wednesday in decreasing the extent of a huge wildfire that blazed for two days and destroyed 20% of a forest in the Brazilian capital, cloaking the city in clouds of graywhite smoke, according to officials, who believe that it may have been begun by arsonists. The National Forest of Brasilia is a conservation area that crosses 5,600 hectares of forest that protects the springs that are the source of 70% of the city's freshwater. The fire broke out at the peak of the dry season when vegetation is parched and temperature levels high permitting flames to...

A group of biologists, veterinarians and fishermen caught rare freshwater dolphins today on a. lake in the Amazon to study their health in the hopes of. preventing numerous deaths of the mammals due to a serious. drought in 2015. The dolphins were brought ashore for blood tests and other. exams and went back to Lake Tefé as soon as the scientists had. completed their work that included inserting a microchip to. follow their behavior via satellite. Anglers bewared not to harm an adult female dolphin. throughout capture and kept her near her offspring. She relaxed and we could do the...

The number of fires in Brazil's Amazon rainforest region rose to a record high for the month of July in practically twenty years, government information showed on Thursday, in the middle of a drought in the area fanned by climate modification. The Amazon, the world's largest rain forest, plays an important role in curbing international warming due to the fact that of the huge quantities of greenhouse gas it absorbs. Satellites discovered 11,434 fire hotspots in the Amazon in July, the biggest number for that month since 2005, data from Brazil's National Institute for Area Research (Inpe) showed. Fire hotspots...