Peru mining investments rise 70% in 2011 Mind Map

Peru’s mining investments rise 70% to $2.95 Billion in first half 2011.



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Mining investments in Peru (2006 - June 2011) US$13.7 billions

Peru’s Minister of Energy and Mines (MEM)
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China's global investments: An excellent interactive map over at Forbes

Click here to go see a great interactive map put together by Jon Bruner of Forbes Mag. No image pasted here can do it justice so go over and find out for yourself, but to give you a taste here's the blurb that accompanies the visual.

"Since 2005 Chinese firms and arms of the Chinese government have invested hundreds of billions of dollars in foreign companies and raw materials. Each dot on this map tracks one of those investments, with larger dots representing larger investments. Explore the map by rolling over and clicking on the dots and timeline."

Here's the link again, to make sure you visit. Kudos to Bruner for a job well done and thank you to reader 'AT' for the headsup.

Shock! Venezuela and Bolivia welcome foreign oil investment!

DAG-NABIT, Trew! Can't these goddamit commies play it right and stay enemies for once?

The major biznews this week from South of the Darien Gap is the big investment moves in Venezuela and Bolivia done by foreign oil companies. Yesterday, the Orinoco belt auction results were announced, with those lilly-livered pseudo-socialist European traitors at Repsol, backed up by cheating lying snakes-in-grass from Malaysia and India, winning one part of the auction. The other big winner of a separate tranche of the deal was a consortium including you-can't-trust-em Japanese at Mitsubishi and headed up by those commie pinko bedwetter foreigners from.....errrrr...Chevron (that one willl really confuse the loopy O'Grady girl...best just to ignore it dear).

Reuters has good coverage on the whole shebang here, including a good quote from some oil analyst dude that actually gets what's going on (unlike the vast majority) and avoids the chestbeating of the far right and far left:

 "It is pragmatism on the part of the Venezuelans and
international oil companies," said Jeremy Martin, director of
the energy program at the Institute of the Americas in
California.

"The Venezuelans know they can't do this without major capital and
knowhow, and (companies) know there's nowhere else in the
world where they would have access to world class reserves like these."

That's fair comment.

Meanwhile in Bolivia, Total (of pinko France) is moving forward on its $500m project to develop gas fields in Evolandia. First stage is the drilling (they have to go deep, to 6,300 feet apparently) and if all goes well, the full investment will be greenlighted.

Once again, South America shows itself to be far more difficult to pigeonhole than the bipolar North would prefer. Mojitos served, the end.

Fiesta Time!

Y'know, I may be cynical and difficult to please most of the time, but in the end I gotta say that the dude from Blackrock here has got the story right. LatAm is a rocking place to invest your long-haul money right now...and it's an even better place to live, by the way. Here's Bloomie:

Aug. 10 (Bloomberg) -- Latin America remains the most “attractively priced” region for equities even after rising more than other markets last quarter, according to Blackrock, the world’s biggest publicly traded asset manager.

Brazil is among the most “notable” equity markets in the region, William Landers, senior portfolio manager for Latin America, wrote in a note to clients, citing prospects for economic growth on commodities and lower borrowing costs.

“Latin American valuation levels offer attractive potential long-term returns, still ranking the region as the most attractively priced regional market on a growth-adjusted basis,” Landers wrote

Gold Trading: a must-read

Gary nails gold. Check out the note "micromanaging the gold price" on the biiwii blog this morning. A total must-read for all of us mad enough to try and pick tomorrow's price in gold (yup, that includes me).

News From Investment Grade Peru (part 7,592)

Can you count?

Headsup dudes, cos the combo of news in this post will get you big businessy people itching to set up shop in Peru. Form an orderly queue please, rich people...no pushing at the back.

1) Today Reuters (EngLang) reports that even though Peru "grew" by 9.8% in 2008, a full 32% of its citizens didn't get enough to eat, that number up 2% from the 2007 figure. These are the official INEI stats office statistics, by the way, not some bunch of hangwringers with an NGO.

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LIMA, March 24 (Reuters) - More Peruvians went hungry last year despite blazing economic growth, a sign that President Alan Garcia is stumbling in efforts to direct benefits of an impressive expansion to the poor.

The percentage of people in Peru with inadequate nutrition rose by more than 11 percent in 2008, faster than the economy's 9.8 percent surge, according to the national statistics agency.

Now, 32 percent of Peruvians do not get enough to eat yada yada continues here

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C'mon rich foreign people, how tempting do you want a country to be for investment? Make Peru your choice and not only do you get all that growth, but the gov't makes sure that it all gets funnelled back to you. No need to worry about the peasants revolting or anything, as those small, brown people that live in the hills won't do anything to burden you or the state.......such as eat, for example.

2) BUT WAIT! THERE'S MORE! If you invest now, you even get a guarantee from Latin America's least popular President that the present trickledown policies that you all love will continue after his term is done. President Twobreakfasts told a whole bunch of bankers (!) at a posh lunch (!) today that.......

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"..In Peru, the President has power. He cannot make whoever he wants (the next) President, but he can avoid making President somebody he doesn't want. In this way I can guarantee you that all who want to bring money to this country, that money is guaranteed by the political stability that Peru will have in the next 10 years. This is my long-term contribution for the post-crisis that will come."

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I'm not making this up, he actually said that today. But hey...apart from it being illegal, immoral, arrogant in the extreme and total demagoguery, I can't see anything wrong with keeping the present system of rich richer and hungry hungrier, can you? Manna from heaven, for all you rabi..SORRY, caring capitalists. Who really care. Yes you do. We know you do. You care. Because you told us you do. And you'd never lie to us.

3) Meanwhile, in 'that other Peru' that doesn't get to sit down for lunch with Twobreakfasts every day, here's a random report plucked from about two dozen possible examples and put through the Ottotrans™.

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A part of the population of the capital city of the province of Sandia drinks non-potable water that contains parasites, bacteria and virus says the director of the local hospital, Gustavo Calderón Vargas.

To prevent the population of the Puno jungle region from becoming ill, the support hospital of Sandia, in coordination with the provincial municipality, performs monthly water purifications. However it is insufficient due to the lack of purification stock available yada yada continues here

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Viva investment grade. Viva, viva, viva.

For more details about those nutrition numbers and how they show the true poverty level of a country, go here as someone who really knows about these things explains in detail, in English and without the IKN snark. An exellent report and a learning experience.

Good investment advice

Steve Forbes interviewed Barry Ritholz over at Forbes Magazine. If you invest in the stock market, here's the extract that's worth storing in your long-term memory.

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What is the greatest financial lesson you've ever learned?

You're a monkey. It all comes down to that. You are a slightly clever, pants-wearing primate. If you forget that you're nothing more than a monkey who has been fashioned by eons on the plains, being chased by tigers, you shouldn't invest. You have to be aware of how your own psychology effects what you do. This is why we as investors sell at the bottom, get panicked. All the other lessons I've learned have come out of that. As has the field of behavioral economics.

Wall Street clichés, like "cut your losses and let your winners run" come back to prevent the monkey part of your brain from doing what it does. There's a banana--I want it. That's how chimps behave. Us humans react to greed and fear in predictable ways. We are predictably irrational. If you understand that you can take steps to prevent that--we don't own anything in the office that doesn't have a stop-loss on it. In 2008, we watched the market go down 40%. We figured out we're chimps, and don't let the chimp inside us make those chimp-like decisions.

Every good financial decision I've made comes from, "Wait a second, monkey boy, step back, don't do that." Once you realize how your own brain chemistry works against you, it gives you a chance to not panic at the bottom.

Also available at the Ritholz blog

It's 21st Century Kapitalism, Komяade

News out of Яussia is that Яussian PM and Abba fan, Vladimir Putin, has just given the final go-ahead-all-clear-let's-do-this-crazy-thing-one-time to the Bilateral private bank to be set up by his motherland and a place called Venezuela, which is in Latin America somewhere so they tell me.

The bank is to be a private enterprise with its HQ in Moscow and a branch in Caracas. It will be jointly funded and aims to offer capital to corporate projects in the hydrocarbons, electricity, mining, metallurgy, infrastructure, mechanics and petrochemicals sectors, according to the official stuff from Яussian infoagents Novosti today.

I'm sorry, did that say "mining"? Now how on earth might Яussia invest in the Venezuelan mining industry? What opportunities are there in the sector right now? Hmmm....can't think of a single one......any ideas spring to mind, Mr. Salamis?

Finally, if you think banking in CommieHeaven Hugolandia is a dumb deal to get into check out this report today about how Venezuela's second largest bank, Mercantil, raised profits by 22.5% in 2008, which sure beats the heel out of WaMu's performance this year. And the US still tries to tell us down here how to run our economies........