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France 24
09-07-2025
- Business
- France 24
Copper giant Chile awaits 'official' news on US tariff raise
The South American country is responsible for nearly a quarter of global copper supply, which contributes 10 to 15 percent to its GDP. "The government reacts to these matters with caution, as is appropriate in diplomacy," President Gabriel Boric told reporters Wednesday. He said he was awaiting "official communication from the United States government regarding the policy" on copper duties, after which "we will be able to respond with the institutional strength that characterizes Chile." Trump on Tuesday told a cabinet meeting: "I believe the tariff on copper, we're going to make it 50 percent." He did not set a deadline but Commerce Secretary Howard Lutnick said the rate will likely take effect by the end of July or on August 1. China is the leading buyer of Chilean copper. In 2023, it accounted for 56 percent of exports, followed by the United States with 11 percent and Japan with 8.5 percent, according to the Chilean Copper Commission. State-owned copper giant Codelco, the world's single biggest producer of the metal used in wiring, motors and renewable energy generation, also noted there had been no formal communication on the US tariffs. There is no "executive order from the United States," said Maximo Pacheco, board chairman of Codelco, which produces between eight and 10 percent of the world's copper.
New York Times
09-07-2025
- Politics
- New York Times
Searching for Grandchildren Stolen During Argentina's Dirty War
A FLOWER TRAVELED IN MY BLOOD: The Incredible True Story of the Grandmothers Who Fought to Find a Stolen Generation of Children, by Haley Cohen Gilliland The state-ordered abductions were a matter of both secrecy and spectacle: masked men jumping out from cars without license plates, grabbing people from city streets in the middle of the day. Panicked families tried to petition the courts to find out where the men had taken their loved ones, and why. Even the terrible finality of a death record would have provided a measure of relief. But anxious families were typically given nothing. From 1976 to 1983, when Argentina's military dictatorship carried out its broad and brutal Dirty War against suspected 'subversives,' so many people vanished that language acquired a new noun: los desaparecidos, 'the disappeared.' Estimates of the Dirty War's victims range from 8,960 to 30,000. But in addition to the disappearances, torture and killings, there was another dimension to the cruelty. Many of the people detained by the military were young, and hundreds of the women were also pregnant. Days after giving birth, some of these mothers were drugged with barbiturates, dragged onto airplanes and pushed to their deaths over the Río de la Plata. Their babies were given away, often to military families. In 1977, a group of mothers of the disappeared started gathering weekly and formed the Madres de Plaza de Mayo to demand information about their loved ones. A subset of these mothers became known as the Abuelas de Plaza de Mayo: Their pregnant daughters and daughters-in-law had been kidnapped and probably killed. The Abuelas dedicated themselves to searching for their stolen grandchildren. The astonishing story of these grandmothers is the subject of 'A Flower Traveled in My Blood,' a powerful new book by the journalist Haley Cohen Gilliland. A former correspondent for The Economist in Buenos Aires, she remarks on the surreal experience of spending time in such a vibrant city — beloved by tourists for its cafes and tango halls — and remembering how recently it was a site of atrocity. Her first few chapters provide an absorbing and lucid overview of the factors leading up to the Dirty War, including a political system dominated by the populist demagogue Juan Perón and intermittently interrupted by military coups. Economic upheaval and eruptions of political violence by left-wing militants and right-wing paramilitaries pushed the country deeper into crisis. When a military junta led by the 'dull, pious and unyielding' Gen. Jorge Rafael Videla took over in March 1976, it gave itself the bland name of National Reorganization Process. Want all of The Times? Subscribe.
Bloomberg
08-07-2025
- Business
- Bloomberg
Uruguay Central Bank Surprises With Quarter-Point Rate Cut
Uruguay's central bank cut its benchmark interest rate by a quarter point to 9% and signaled it might further lower borrowing costs if inflation converges with the target. 'As long as inflation evolves as expected and agents' expectations continue to decline, the BCU believes there could be room to continue lowering the interest rate,' the central bank said in a statement.
Bloomberg
07-07-2025
- Business
- Bloomberg
Chile's Biggest Copper Windfall in Years Signals Higher Output
Chilean copper mines had their best month of export revenue in more than three years in June, with the increase in value outstripping price gains in a sign of rising production. The country that accounts for about a quarter of the world's mined copper shipped $4.7 billion worth of the metal last month, the biggest haul since December of 2021, according to data released by the Chilean central bank on Monday. That's 17% more than the same month last year, signaling that at least part of the increase was the result of higher volume given prices rose 11% on average over the same period. Chile is yet to report June production.
Reuters
07-07-2025
- Business
- Reuters
Colombia's Ecopetrol buys wind power project from Enel
BOGOTA, July 7 (Reuters) - Colombian state oil firm Ecopetrol ( opens new tab said on Monday it has purchased a wind power project in the northern province of La Guajira from Enel ( opens new tab. The Windpeshi project will have capacity to produce 205 megawatts, "which will be immediately incorporated into the Ecopetrol Group's self-consumption portfolio," the company said in a statement.
