TLA TIMES | March 28, 2018
A Snapshot of LatinAmerican News
Figures from March 28 Source: www.xe.com
FUN IN THE SUN
Argentina wants to sell lithium to Indian companies, government.
Argentina has plenty of lithium reserves, among the largest is the world. India has a big interest in getting into electric cars, which run on lithium batteries. The Asian nation hopes all of its vehicles run on electricity by 2030. So Argentina has approached Indian companies and the government and told them the South American nation is eager to meet their needs for lithium, the Business Standard reports. Details
Unions, copper mine reach deal on contract, avert a strike.
With the possibility of strike looming, Antofagasta PLC’s Los Pelambres copper mine and its union workers reached an agreement, Reuters reports. The deal gives miners a 3 percent wage increase and a $30,500-per-worker signing bonus. The mine’s largest union had voted down an earlier contract, increasing the likelihood of the first strike at mine. Details
Amazon weighs acquisition to increase presence in Brazil.
Amazon is in talks with Casino, a retailer based in France, about the possibility of buying Casino’s chain of appliance and electronics stores in Brazil, Bloomberg reports. Amazon and Casino already struck a deal this week to sell groceries in France on Amazon’s Prime Now service. The two companies gave no public comment on any deal in Brazil. But Casino has already announced it intends to sell the Brazilian stores, Via Varejo. Details
Mexican auctions off 35 blocks for off-shore oil and gas exploration.
The Mexican government held its last auction for petroleum exploration in shallow waters ahead of the July 1 presidential election, granting 16 contracts, Market Watch reports. The leading presidential candidate is leftist Andrés Manuel López Obrador, who wants to review all the contracts before allowing any more if he wins the election. There is fear López Obrador might rescind the contracts already granted. The current administration says it will hold more auctions before turning over power Nov. 30. Details