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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...

  • WASHINGTON, March 27- Mexico on Friday said it will cap its greenhouse gas emissions by 2026, becoming one of the first countries to formally submit its national climate plan the United Nations ahead of a key climate summit in Paris in December. The White House praised Mexico for being the first major emerging economy to submit its national strategy to the...

  • *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...

  • Emerging world: Heading for contagious credit crisis? Friday, 27 Mar 2015 | 11:46 AM ET
    Aerial view of Christ the Redeemer statue, in Rio de Janeiro, June 26, 2014.

    Major emerging markets like Brazil and Russia could be at risk of a widespread credit crisis that could impact the world’s financial markets.

  • 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...

  • That far outstrips an estimate given late last year of 42-52 tonnes, after Mexican gold and silver miner Fresnillo said it was hedging 47 tonnes of output over five years. In their quarterly Global Hedge Book Analysis, Societe Generale and GFMS analysts at Thomson Reuters said the bulk of the rise in the global gold hedge book last year was driven by Fresnillo and...

  • Petrobras: Brazil needs a solution   Friday, 27 Mar 2015 | 8:00 AM ET
    Petrobras: Brazil needs a solution

    Juan Sartori, president and founder of Union Group, explains why the Petrobras scandal is such a big deal, saying that it impacts Brazil's credibility.

  • 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...

  • MEXICO CITY— Mexico's state-owned petroleum company Pemex has signed an agreement giving two investment funds a 45 percent stake in a natural gas pipeline in exchange for $900 million. The Los Ramones pipeline will transport natural gas from Texas to Mexico and is intended to facilitate imports of cheap U.S. gas and lower Mexico's high commercial...

  • 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.

  • Forget Brazil. This emerging market is on the rise Thursday, 26 Mar 2015 | 1:21 PM ET
    Lima, Peru

    A fledgling Latin American trade block is larger economically than Brazil, and growing three or four times as fast.

  • 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...