IDB approves $2 billion credit line for Brazil
June 27 (Reuters) - The Inter-American Development Bank (IDB) approved a conditional credit line of $2 billion to strengthen fiscal management in Brazil, it said on Friday.
The funds will go toward modernizing the South American nation's tax management processes and systems, the lender said in a statement, starting with an initial $30 million loan for the state of Amazonas.
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The Independent
15 hours ago
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Brazil strikes deal with Musk's Starlink to curb criminal use in the Amazon rainforest
Brazil's Federal Prosecutor's Office announced Friday a deal with Elon Musk's Starlink to curb the use of its services in illegal mining and other criminal activities in the Amazon. Starlink's lightweight, high-speed internet system has rapidly spread across the Amazon, a region that for decades struggled with slow and unreliable connectivity. But the service has also been adopted by criminal organizations, which have used it to coordinate logistics, make payments and receive alerts about police raids. It's the first agreement of its kind aimed at curbing such use following years of pressure from Brazilian authorities. Starlink, a division of Musk's SpaceX, will begin requiring identification and proof of residence from all new users in Brazil's Amazon region starting in January. The company will also provide Brazilian authorities with user registration and geolocation data for internet units located in areas under investigation. If a terminal is confirmed to be used for illegal activity, Starlink has committed to blocking the service. The deal is for two years and can be renewed. Illegal gold mining has contaminated hundreds of miles of Amazon rivers with mercury and disrupted the traditional lives of several Indigenous tribes, including the Yanomami. Starlink, which first arrived in the region in 2022, has enabled criminal groups to manage mining operations in remote areas, where logistics are complex and equipment and fuel must be transported by small plane or boat. 'The use of satellite internet has transformed the logistics of illegal mining. This new reality demands a proportional legal response. With the agreement, connectivity in remote areas also becomes a tool for environmental responsibility and respect for sovereignty,' federal prosecutor André Porreca said in a statement. Illegal gold miners and loggers have always had some form of communication, mainly via radio, to evade law enforcement. Starlink, with its fast and mobile internet, has significantly enhanced that capability, Hugo Loss, operations coordinator for Brazil's environmental agency, told The Associated Press in a phone interview. 'They've been able to transmit in real time the locations of enforcement teams, allowing them to anticipate our arrival, which seriously compromises the safety of our personnel and undermines the effectiveness of operations,' Loss said. 'Cutting the signal in mining areas, especially on Indigenous lands and in protected areas, is essential because internet access in these locations serves only criminal purposes.' Jair Schmitt, head of environmental protection for the agency, said what's also needed is tighter regulation on the sale and use of such equipment. The AP emailed James Gleeson, SpaceX's vice president of communications, with questions about the deal, but didn't immediately receive a response. ___ The Associated Press' climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP's standards for working with philanthropies, a list of supporters and funded coverage areas at
Reuters
16 hours ago
- Reuters
IDB approves $2 billion credit line for Brazil
June 27 (Reuters) - The Inter-American Development Bank (IDB) approved a conditional credit line of $2 billion to strengthen fiscal management in Brazil, it said on Friday. The funds will go toward modernizing the South American nation's tax management processes and systems, the lender said in a statement, starting with an initial $30 million loan for the state of Amazonas.
Reuters
17 hours ago
- Reuters
Brazil's Vale defines part of Carajas investment plan execution
SAO PAULO, June 27 (Reuters) - Brazil's Vale ( opens new tab, one of the world's largest iron ore producers, has decided how to spend half of the planned 70 billion reais ($12.78 billion) in investments under its "New Carajas Program," according to a company director, who discussed details of the five-year plan with journalists this week. Gildiney Sales, director of the mining company's North corridor, said some of the projects are in the execution phase. He added that Vale is now seeking new "targets" under the program to expand mines and increase its iron ore output to 200 million tons annually at the Carajas mining site, in addition to increasing local copper extraction by 32%. "We are looking for new ore bodies; there are projects underway, the main one being the +20 million tons project in Serra Sul, which amounts to nearly US$3 billion," he said. The Serra Sul project, which is 73% physically complete, involves opening new mining areas, doubling the long-distance conveyor belt (TCLD), and implementing new beneficiation lines. There are also plans to expand storage areas and mining equipment. Last year, Vale produced 177.5 million tons of iron ore in the Northern System (comprising Serra Sul, Norte, and Leste), as well as 265,200 tons of copper. "We are researching new targets so that we can return to producing at the level of 200 million tons in the Northern System and reach that figure of 350,000 tons of copper," he added. ($1 = 5.4784 reais)
