South America

British stocks rose Wednesday, as investors considered mixed corporate results. The main indexes are poised to end a volatile, but largely positive, month. They have almost recovered from the losses caused by U.S. Trade policies. The blue-chip FTSE 100 index was up 0.1% as of 1009 GMT and is on course for its 13th consecutive session with a positive result. The midcap index, which is primarily focused on domestic companies, advanced by 0.7% to reach its sixth consecutive session of gains. Despite recovering from the steep tariffs announced in early this month, FTSE 100 is still poised to report a...

Fernando Collor de Mello, the former Brazilian president, was arrested in Maceio on Friday after a Supreme Court judge rejected his appeals against a prior conviction and ordered that he begin serving time behind bars. Collor's attorney, Marcelo Bessa said that Collor was arrested at 4:00 am local time (0700 GMT), while traveling to Brazil’s capital Brasilia. He planned to surrender himself following Supreme Court Judge Alexandre de Moraes’ arrest order. Bessa, in a press release, said that the former president had been detained by federal police officers in Maceio. This is the capital of Alagoas. Moraes issued his order...

Petrobras, the state-run Brazilian oil company, said that its board of directors had authorized it to sign a settlement agreement with Unigel Chemical Company to settle a legal dispute over two fertilizer factories in northeastern Brazil. Petrobras stated in a filing of securities that the agreement would restore Petrobras ownership over two fertilizer factories located in Sergipe state and Bahia state. Petrobras announced that the plants would resume operations after a process of bidding to contract for services to operate and to maintain them. The deal, however, still needs to be approved internally within Unigel, and it must also meet...

According to four sources with knowledge of the matter, the board of Brazilian state oil company Petrobras approved plans on Thursday to select a new partner to restart its fertilizer factories in northeastern Brazil. Sources who asked to remain anonymous because the decision had not been made public said that the move hinged on the resolution of ongoing disputes with the current leaseholder, Unigel. The chemical company Unigel demanded compensation from Petrobras, according to previous reports. This impasse marked a setback in President Luiz-Inacio Lula's plan to reduce Brazil's dependence on imported fertilizer. Brazil, a major agricultural powerhouse in the...

Petrobras, the state-run Brazilian oil company, announced on Thursday that it would reduce diesel prices by 0.12 reals ($0.0205) on average per liter. Crude prices have fallen in recent weeks following the tariffs imposed by President Donald Trump on April 2 on several countries. Fernando Melgarejo, the Chief Financial Officer of the company, said that the changes in the Brent crude oil price and the exchange rate influenced the decision to update the prices. Melgarejo stated, "We have a fundamentalist price analysis, and we believe that this adjustment is appropriate for the moment. This is mainly because of the Brent's...

Venezuela's National Assembly passed on Thursday a decree by the government of President Nicolas Maduro to declare an economic emergency as a response to U.S. tariffs and sanctions. In March, Donald Trump's administration began to suspend authorizations of oil companies that work with Venezuelan state-owned PDVSA. They also imposed secondary tariffs against crude oil and natural gas exports. Maduro issued the decree on February 2, citing constitutional authority to declare states or exceptions, suspend constitutional protections, and impose an alarm state during national emergencies. Delcy Rodriguez, Vice President and Minister of Oil during the presentation of this document, stated that...

A director of Brazil's state-run Petrobras said that the ongoing drop in crude prices was "scary", but the oil projects run by the company are resilient. The comments were made as Brazil's oil industry reacted to U.S. Tariffs imposed on last week. No Petrobras project is going to be paralyzed. These are long-term investments. This is a joke if you compare it to the (market drop in) 2020. Sylvia dos Anjos told journalists in Rio de Janeiro that it was a time of instability. Symone Araujo said that the lower price would not reduce interest in Brazil’s planned June auction...

Sources with knowledge of this matter said that Brazil's Mines and Energy Minister has asked Petrobras to consider a new reduction in the average price for diesel sold to Brazilian distributors. Sources said that Minister Alexandre Silveira had cited recent drops in oil prices as well as the stability of the US dollar to justify a price reduction for Petrobras Chief Executive Magda Chabriard. The talks took place last week, they added. CNN Brasil had previously reported Silveira's demand. The request is made as oil prices are falling due to President Donald Trump's tariffs, which could cause economies all over...

The partners announced on Monday that Brazil's state oil company Petrobras, and Brazil's development banking institution BNDES had partnered to create a financing program for forest restoration initiatives in Amazonia. Petrobras, under the ProFloresta+ Program, will hold tenders for carbon credits generated by restoration projects. The winning bidders can apply for low-interest loans to establish projects from BNDES. The pilot phase of the program is expected to generate investments of 450 million reais (78.45 millions) for restoration. This will lead to the replanting and regrowth of 15,000 hectares of forest. Petrobras is expecting to sign contracts for long-term with up...

The trade of Venezuelan crude oil to China, its top buyer, slowed on Tuesday following the U.S. President Donald Trump’s order that threatened tariffs against countries purchasing from Caracas. This came days after U.S. sanctioned China's imports of Iranian oil. Trump's surprise order caught Chinese traders and refiners by surprise. It states that, at the discretionary discretion of the Secretary of State, the U.S. can impose 25% tariffs starting April 2 on any goods imported from countries importing Venezuelan crude oil. Chinese traders and refiners are waiting to see the implementation of the order and if Beijing will instruct them...

A senior U.S. official announced on Thursday that Venezuela has agreed to resume the flights of illegally-entering migrants deported from the United States. This follows an apparent pause on the flights which began last month. Richard Grenell, a U.S. diplomat, added to his post in which he said that flights will begin on Friday. The Venezuelan Ministry of Communication did not respond immediately to a comment request. Grenell, an envoy for U.S. president Donald Trump, visited Caracas, Venezuela's capital, in late January to meet President Nicolas Maduro, and to discuss deportation, among other things. Soon after, the first repatriation flight...

Bolivia's state-owned energy company YPFB plans to use cryptocurrency as a payment method for its energy imports, despite a severe shortage of fuel and dollars in the South American country. After years of declining natural gas exports, the country has been battling a dangerous decline in its foreign currency reserves. This has led to a fuel shortage in the country that is manifested by long lines of people at gas stations. After the government approved the use of digital assets as a way to meet demand, a spokesperson for YPFB, a state-run energy company, said that a system was in...

Dina Boluarte, the president of Peru, announced on Monday that mining in Pataz, a district in northern Peru, would be suspended for 30 day after illegal miners kidnapped 13 gold workers and killed them. The Peruvian government plans to establish a military base in the area and impose a curfew from 6 pm to 6 am. Boluarte stated that "the armed forces will be taking control of the area in which Poderosa operates." Poderosa miner said on Sunday that police had recovered the bodies of thirteen workers who were abducted last month by a local mining firm. Peru is the...

The CEO of Brazilian nickel miner Vale said that the company is looking at alternatives to sell its nickel assets, including partnerships and putting them in care and maintenance. This is because the market has a difficult short-term outlook, he added. The chief executive of the company, Gustavo Pimenta, told reporters in Rio de Janeiro that there is a surplus on the market due to Indonesian production. "Nickel is attractive on a medium- and long-term basis," said Pimenta, citing the demand for electric car production. The executive said, "The question now is how to stay profitable in the short-term." Vale's...

Biomas, an initiative for reforestation in Brazil backed by several major corporations, unveiled on Friday its first project. It aims to restore 1,200 ha (2,965 acres), of Brazil's Atlantic coast rainforest, with more than 70 native tree varieties. The project represents a major milestone for the company formed in 2022 by Vale Mines, Marfrig Meatpackers, Suzano Pulpmakers, Santander Brasil, Itau, and Rabobank. The initiative comes at a time when Brazil's carbon removal industry is growing, and major reforestation initiatives are already underway. Startups Mombak and Re.green offer credits to companies who want to offset their greenhouse gas emission. These two...

The Brazilian miner Vale announced on Thursday that its net profit for the first quarter of 2014 was down 17% from a year ago, due to lower iron ore costs. Vale, the world's largest iron ore producer, reported a net profit of $1.39 billion for the three months ending in March. Analysts polled by LSEG expected a profit of $1.68 billion. Vale's earnings report stated that lower iron ore costs had a negative impact on its results. However, this was offset in part by the company's efforts to reduce the cost of iron ore production and the effects of the...

Eramet, a French mining company, maintained its full-year production targets on Thursday despite lower manganese and Nickel volumes which contributed to flat sales in the first quarter. The company reported quarterly sales adjusted to 742 million euros (842 million dollars) and said that sales volumes at its manganese mining in Gabon were down 15% on an annual basis due to a strike by workers and logistical issues at Owendo Port. Eramet, the Indonesian nickel ore miner, attributed this decline to destocking of local processing plants. The Chairwoman and CEO Christel Bories also attributed the "more difficult" than expected first quarter...

The mining ministry announced on Tuesday that the Chilean government is moving ahead with a simplified procedure to award contracts for lithium in three salt flats. The agency announced that it had accepted applications from Eramet for the Agua-Amarga salt plain; Eramet, Quiborax and the state-copper giant Codelco for the Ascotan Salt Flat; and the Caliche Kairos Consortium for the Coipasa Salt flat. The leftist president Gabriel Boric has introduced a plan that will increase state control of lithium, which is a key metal in electric vehicles and energy transition in 2023, and create public-private partnerships in order to expand...

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Federal Reserve Chair Jerome Powell stated on Wednesday that it may be difficult for the central bank to protect the economy from the trade war of President Trump, and predicted higher consumer prices as well as unemployment in the short term. The Trump administration has instructed the Internal Revenue Service (IRS) to begin revoking Harvard University’s tax-exempt designation. This move would end tax deductions and tax the net earnings of the university. Prologis, a warehouse-focused Real Estate...

Three of the top copper suppliers in the United States have told the administration of President Donald Trump that the imports do not pose a threat to U.S. national security. Chile, Canada, and Peru are attempting to avoid potential tariffs for the metal, which is needed for electric cars and other industrial applications. Trump began a probe in February into potential duties under the Section-232 national security provision of Trade Expansion Act of 1964, which he had used during his first term in the United States to impose global tariffs of 25% on steel and aluminium. In recent weeks, the...

China's imports of iron ore in March were down slightly from the previous month, and reached a 20-month-low. This was contrary to analysts' expectations for a monthly increase as supply disruptions caused by weather eased. According to data, the world's biggest iron ore consumer imported 93.97 millions metric tons of this key ingredient for steelmaking last month. This was down 0.25% compared to the 94.21 millions tons of imports that were made in February, when cyclones disrupted supplies in Australia's major supplier. It was also down 6.7% compared to 100.72 millions tons of imports for the same period in 2024....

Gold price surge helps drive deforestation Mercury from gold mining pollutes rivers Clean tech boosts productivity for women miners By Dan Collyns Illegal mining in Madre de Dios has created a landscape that resembles a desert, with craters, dead animals, and poisoned waterways. "We can't continue to pollute and release more mercury into the atmosphere," said Victoria Condori (65), an artisanal mining concession owner on the Madre de Dios River. She employs 16 workers in an 800-hectare (1,977 acre) area. A dozen miners, using heavy diggers, hoses with high pressure and sluices can turn 20 tons of soil in to...

The trade war sparked by U.S. Tariffs poses a threat to metal demand, according to the Chilean Antofagasta's head. However, he said that AI and other technologies could compensate for any decline in traditional consumption due economic weakness. He said that President Donald Trump’s policies may create a more favorable environment for mining investment. Trump's announcement last week of tariffs, followed by China's retaliation, caused chaos on the financial markets, and sent copper prices plummeting. Ivan Arriagada, CEO of Antofagasta, said during an interview at the CESCO Copper Conference in Santiago, that he expects supplies of copper to remain limited....

Codelco, Chile’s state-owned copper manufacturer, increased production in the first quarter of 2025. Trade war escalates Maximo Pacheco, chairman of the board, said that there is a growing relationship between China and the U.S. The world's largest copper producer recorded slightly higher production in the first quarter than the same period of 2024. It is also maintaining its production guidance, even after a nationwide power outage in Februrary crimped the output. In an interview given ahead of the CESCO/CRU conferences on the copper industry in Santiago, Pacheco stated that "we will have a quarter which will be slightly better than...