Politics, Business & Culture in the Americas

Monday Memo: Valparaíso Fires – Fabius in Cuba – Las Bambas Mine – Venezuela – Drummond Shipwreck



This week’s likely top stories: a deadly fire ravages Valparaíso, Chile; French Foreign Minister Laurent Fabius visits Cuba; Glencore sells Las Bambas mine to Chinese consortium; Venezuela investigates abuses during protests; a shipwreck spills fuel off the coast of Colombia.

Fire in Valparaiso, Chile: At least 12 people have died in a disastrous fire in Valparaíso, Chile that has forced some 10,000 people from their homes. The fire started on Saturday and rapidly engulfed the historic seaside city, whose town center is an UNESCO World Heritage Site. Many of Valparaíso’s buildings are perched on hillsides and susceptible to fire, posing a great challenge to the 1,200 firefighters that have been dispatched to the city. High winds fanned the blaze on Saturday night and the fires could still spread.  The Chilean Red Cross has appealed for donations, and President Michelle Bachelet is in Valparaíso to oversee the emergency response. Meanwhile, a forest fire in the Colombian department of Boyaca has consumed at least 250 acres of land in the last three days, also due to high winds.

France’s Fabius Meets with Raúl Castro: French Foreign Minister Laurent Fabius met with Cuban President Raúl Castro on Saturday to discuss politics, human rights and economic reforms in Cuba, just weeks after the European Union agreed to begin negotiations with Cuba. Fabius’ meeting with Castro was the first visit to Cuba by a high-ranking French official in 31 years. Talks between the EU and the Cuban government are expected to begin on April 29 in Havana.

Glencore Sells Las Bambas Mine to Chinese Consortium: A consortium of Chinese companies announced Monday that it will purchase Peru’s Las Bambas copper mine from Glencore Xstrata for approximately $6 billion. The deal is expected to be complete by the end of September, but the consortium has agreed to cover costs of developing the mine from the beginning of 2014 until the transaction closes. The open-pit mine is currently being constructed and is expected to initially produce two million tons of copper a year.

Venezuela Investigates Abuses During Protests: Venezuela’s strategic command chief, Vladimir Padrino, said that 97 members of the country’s security forces are being investigated for abuses committed during the country’s two months of protest. So far, at least 41 people have been killed since the protests began on February 12, and some 2,000 people have been detained. Padrino said that the Venezuelan military has committed “some excesses,” but added that the officers being investigated represent less than 1 percent of the force.

Drummond Says Diesel Spilled in Shipwreck:  A barge carrying construction materials off the Northern coast of Colombia for Drummond Co. Inc—a U.S. based mining company and Colombia’s second biggest coal minerwas shipwrecked on Friday, causing diesel fuel to leak into the sea. Drummond said that the cause of the accident is being investigated, but did not provide an estimate of the amount of fuel that was spilled. The company was fined nearly $3.6 million in December for spilling tons of coal into the ocean in a prior accident off the coast of Santa Marta, and its port was shut down between January and April. The company is still working to comply with new infrastructure requirements designed to lessen spillage.

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