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  • *Southern Copper CEO, Grupo Mexico say Tia Maria going ahead. *Southern Copper shares down 5.6 pct. LIMA, March 27- Conflicting statements about whether Southern Copper Corp would cancel development of its $1.4 billion Tia Maria copper mine in Peru's Arequipa region have battered the company's share price and left investors wondering about the project's...

  • *Lead posts 5 pct monthly gain on China demand. LONDON, March 27- Copper tracked losses in oil and fell to its lowest level of the week on Friday as traders waited for comments from the Federal Reserve, but the metal still clocked up its third straight weekly gain helped by mine closures in key producer Chile. Oil fell as fears about the disruption of Middle East crude...

  • Brazil federal police report massive tax fraud scheme Friday, 27 Mar 2015 | 10:28 AM ET

    SAO PAULO— The federal police agency said Friday it has begun legal proceedings against companies allegedly involved in a fraud scheme that has cost Brazil's public coffers almost $2 billion in unpaid fines and taxes. A federal police press officer said Friday that more than 50 companies in the industrial, financial and agricultural sectors are being...

  • Brazil's economy barely avoided recession last year Friday, 27 Mar 2015 | 9:56 AM ET

    RIO DE JANEIRO— Brazil's economy grew just 0.1 percent last year, barely keeping the country out of a recession, the government's statistics bureau said Friday. It was the worst result since 2009 and bad news for President Dilma Rousseff, whose popularity has plummeted along with Brazil's economic performance. IBGE said Brazil's 2014 GDP totaled 5.52 trillion...

  • MELBOURNE, March 27- London copper fell on Friday but was set for its third straight weekly climb, buoyed as severe flooding affected mines in key producer Chile and as seasonal demand from top consumer China slowly improved. *Three-month copper on the London Metal Exchange had fallen 0.9 percent to $6,119 a tonne by 0115 GMT. *The most-traded June copper contract...

  • RIO DE JANEIRO, March 26- The former chief executive officer of Petroleo Brasileiro SA, Maria das Graças Foster, on Monday said she was ashamed of a corruption scandal at the state-run oil company but denied any knowledge of alleged widespread bribery. Foster, who resigned her post on Feb. 4, told a congressional committee in Brasilia that the company cannot be...

  • BOGOTA, Colombia— A lawyer for a fugitive Colombian millionaire at the center of the South American nation's biggest financial scandal says his client has been arrested in Spain. Attorney Ivan Cancino tells The Associated Press that former investment executive Victor Maldonado was captured Thursday in Madrid. Maldonado was the largest shareholder of...

  • BRASILIA, March 26- Brazilian authorities on Thursday said they uncovered a tax fraud scheme at the Finance Ministry's tax appeals board that may have cost taxpayers up to 19 billion reais. The news came in the midst of a multibillion-dollar corruption scandal at state oil company Petroleo Brasileiro SA, or Petrobras, that has rattled Brazil's political...

  • BUENOS AIRES, March 26- Argentina's waterlogged soy lands will get much-needed sun over the 10 days ahead, firming soils and allowing growers to drive harvesting combines into fields turned to mud by heavy early-March storms, meteorologists said on Thursday. Areas hardest hit by floods are in central-west Santa Fe and central-east Cordoba provinces.

  • Former head of Petrobras testifies in Brazilian Congress Thursday, 26 Mar 2015 | 12:14 PM ET

    SAO PAULO— The former head of Brazil's state-run oil giant Petrobras, told a parliamentary investigative committee Thursday that she and other executives were taken by surprise by the 2014 probe that has revealed a kickback scheme believed to be the largest uncovered in the country's history. "I never knew of any bribes at Petrobras," Maria das Gracas Foster...

  • SAWETO, Peru— Illegal logging persists unabated in this remote Amazon community where four indigenous leaders who resisted it were slain in September, and the lingering fear remains palpable. "It has neither the mandate nor the desire to start protecting the community," American philanthropist Alexander Soros told reporters last week after visiting Saweto...

  • SANTIAGO, March 25- Torrential downpours in the north of Chile, the world's biggest copper producer, have forced companies to suspend operations at several of the area's major mines, putting an estimated 1.5 million tonnes of capacity of the red metal on hold. World No. 1 copper miner Codelco suspended mining operations at its Chuquicamata, Ministro Hales,...

  • Argentina criticizes Citibank for bond payment agreement Wednesday, 25 Mar 2015 | 6:15 PM ET

    BUENOS AIRES, Argentina— Argentina's minister of economy is criticizing Citibank's agreement with a New York court that will allow the bank to process bond payments for the South American country while it exits the custodial business. U.S. District Court Judge Thomas Griesa had ordered Citibank to stop processing Argentine bond payments, leading...

  • SANTIAGO, March 25- The world's number-one copper miner Codelco has suspended all mining operations in the north of Chile due to the state of roads and mine access following heavy rains in the area, the state-run firm told Reuters on Wednesday. Codelco said mining operations at Chuquicamata, Ministro Hales, Radomiro Tomic, Gabriela Mistral, and Salvador had all...

  • BUENOS AIRES, March 25- Argentine growers have harvested about 5 percent of this year's soy, with high yields in the central farm belt compensating for flood damage in northern fields and keeping the country on track for a record crop, analysts said on Wednesday. Strong soybean demand from China and global demand for soymeal livestock feed has kept a floor under...

  • BOGOTA, Colombia— A vibrant stream of giant murals greets people heading in from Bogota's main airport or walking down the cobblestone streets of colonial downtown. Bogota Mayor Gustavo Petro responded by decriminalizing graffiti painting and even offered several public buildings as canvases. Bogota's laissez-faire attitude toward graffiti contrasts...

  • CARACAS, Venezuela— Venezuela is launching a probe into large offshore bank deposits amid a spate of reports that at least $2 billion was siphoned off by corrupt, top-level officials at state-run oil company PDVSA. Chief prosecutor Luisa Ortega Diaz's announcement Tuesday was the socialist government's first response to the determination this month by the...

  • SAO PAULO, March 24- The Obama administration has again invited Brazil's President Dilma Rousseff for a state visit to Washington, a diplomatic breakthrough that both sides hope will lead over time to greater trade between the two biggest economies in the Americas. The dust-up led one former top aide to President Barack Obama to describe Brazil and the United...

  • DIARY-Emerging Markets Economic Events to April 6 Monday, 23 Mar 2015 | 8:02 PM ET

    MAKATI CITY, Philippines- Asian Development Bank to release Asian Development Outlook Report 2015- 0130 GMT. MANILA- Philippines Investment Forum 2015. Philippines President Benigno S Aquino III, Philippines Finance Secretary Cesar Purisima and Philippines Central Bank Amando M Tetangco Jr are the key speakers. PRAGUE- Czech Republic Finance Minister...

  • NEW YORK, March 23- IRB Brasil RE plans to grow more aggressively in Latin America and Africa as part of an expansion that may require Brazil's largest reinsurer to seek an initial public offering or tap an outside partner before 2018, Chief Executive Officer Leonardo Paixão said on Monday. In Brazil, infrastructure projects from factories to shipbuilding...