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TLA Times | February 25, 2020

  CHILE  

Mining minister says copper prices will bounce back

Chilean mining minister Baldo Prokurica says in the Financial post he expects copper prices to bounce back after a slide caused by the coronavirus in China. China is the world’s largest copper consumer. The nation’s efforts to slow the spread of the disease have slowed business down.  Prokurica says he expects the demand and the price to stay low for a month or two. Details


  BRAZIL  

Tesla seems to be interested in building a Gigafactory in Brazil

Inside EVs reports there are signs Tesla is considering a Gigafactory in Brazil.  Nothing solid has been established. But the website did some sleuthing and found that a senior manufacturing engineer had a meeting with a congressman and government tech guy. They sent messages to the principals but received no confirmation. Brazil has been trying to get Tesla founder Elon Musk interested in opening a facility there for some time. Details


  MEXICO AND BRAZIL  

Mexico in talks to increase business ties with Brazil

Mexico is talking with Brazil about expanding cooperation and hopes to find some common ground, Reuters reports.  Mexico’s Economy Minister Graciela Marquez calls Brazil’s economy “very closed.” Last spring Mexico was able to get better access for its auto industry in Brazil.  Marquez says she believes there are several areas that make sense for the two countries to open up. Brazil’s foreign trade secretary, Marcos Troyjo, says his country is hoping for a broader deal with Mexico. Details


  MEXICO  

Pemex signs deals with firms in closed bidding process

The Business Times reports that Pemex, the state-owned oil company, has started signing deals with firms it invited to bid on projects in the Gulf Coast state of Campeche. CEO Octavio Romero says the closed bidding process will save Pemex money.  “We invite the companies, who form consortia to carry out these comprehensive projects, from construction of the facilities, the drilling of wells, laying both marine and onshore pipelines ... and the consortium that offers the best price wins,” Romero explained to reporters. Details
 

Business leaders support raffle for presidential plane, AML says

President Andrés Manuel López Obrador says that 75 of the nation’s business leaders have paid $80 million in raffle tickets for the presidential airplane that has gone unsold, the Associated Press reports via the Daily Herald. The leftist president inherited the plane from his predecessor, Enrique Peña Nieto. AMLO said the Boeing 787 was too luxurious. But a custom plane with a small seating capacity and a suite for the chief executive has a limited resale market. It can’t be cheaply operated or cheaply converted into a regular passenger plane. Details


 

  FUN IN THE SUN  

Get centered by visiting the equator in Ecuador

So you can visit the equator ... well, around the world. But it is in Quito, Ecuador where French scientists in 1736 figured out the location of the equator. Well, not exactly. They missed by about 250 meters. Equipment for this stuff is better almost 300 years later. Anyway, there is a monument, Mitad del Mundo Square that marks where the French found “the equator.” And it makes for cool photos for the folks back home to see you in the Southern and Northern hemispheres at the same time. Or you can go to the Museo Inti Nan, which is actually at the equator. Details
  SNAPSHOT  
GDP pct. growth in Ecuador







 

 

 

Source: data.worldbank.org

  EXCHANGE RATE  
Currency | Per US Dollar

 

 

 

 

 

 

 

 

Figures from Feb. 25, Source: www.xe.com

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