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Chile expects 2014 Codelco funding to top last year's SANTIAGO: State copper producer Codelco should get more government funds this year than Chile allocated for the world's No. 1 red metal miner in 2013, the country's mining minister told Reuters on Tuesday.The previous, conservative government handed Codelco $1 billion in 2013. That was followed by a second handout of $1 billion, but Codelco said that tranche was essentially an accounting change that didn't amount to comprehensive funding for the ambitious and costly overhaul of its tired mines."Naturally that's the case," Mining Minister Aurora Williams told Reuters when asked if funding this year would be more than last year's."And also last year, more than giving Codelco fresh funds it was fundamentally an accounting transaction that in practice didn't give Codelco fresh funds," she said on the sidelines of the CESCO/CRU copper conference.Williams added that the new center-left government was serious about reaching solutions soon for financing the cash-strapped miner."This is ...

Maduro agrees to negotiations in protest-hit Venezuela CARACAS: President Nicolas Maduro agreed to meet with a Venezuelan opposition delegation on Tuesday, after a fresh push from top diplomats from across South America.In just over two months, 39 people have died in clashes between security forces and protesters angered by soaring crime, high inflation and shortages demonstrators blame on Maduro's elected, heavily state-led socialist government.One problem is that only a small part of those opposing Maduro's government and policies have so far agreed ...
In wake of attacks, Colombia to regulate acid sales BOGOTA: The Colombian government plans to regulate the sale of acids following a spate of recent attacks that have shocked the South American country."We have to analyze how to control the sale of such substances so that citizens aren't exposed to irrational and reckless individuals," Defense Minister Juan Carlos Pinzon said in a statement.Early this month, a 23-year-old woman was hit in the face during an acid attack. On Sunday, another woman was admitted to ...
Rain reduces soybean yields in Argentine Pampas BUENOS AIRES: Heavy rain hit Argentina's Pampas farm belt over the weekend and was expected to last until Tuesday, causing some losses to soy yields and delaying the harvest of 2013/14 beans, local crop weather analyst Leonardo De Benedictis said on Monday.Argentina, the worlds No. 3 soybean exporter as well as its top supplier of soymeal animal feed, is expecting a record harvest of 54 million tonnes. But muddy conditions have impeded farm work, leaving ...
Protest-hit Venezuelan government slams Spain's jab CARACAS: The government of Venezuela's President Nicolas Maduro, after more than two months of street protests, slammed Spain on Sunday for claiming it was not seeking dialogue with political foes.Spain's Foreign Minister Jose Manuel Garcia-Margallo confirmed Saturday that Madrid has suspended exports of anti-riot and police gear to its former colony.He said Spanish officials were in contact with Caracas "to try to re-establish a climate of reconciliation which has broken down."He also said Spain was ...
Villagers eye Ecuador volcano after spectacular eruption QUITO: Villagers and experts warily eyed an Ecuador volcano on Saturday that spewed a 10-kilometer (six-mile) high column of ash a day earlier in a spectacular eruption."For now, the ash fall is mild," Ecuador's National Secretariat for Risk Management said on its Twitter account. It called activity at the volcano, which is 130 kilometers south of the capital Quito, "moderate to high."But it admitted that "it is difficult to predict future behavior." The Tungurahua volcano, ...
UN concern over 'high human cost' of Venezuela protests CARACAS: The United Nations office in Venezuela expressed deep concern Saturday over the "high human cost" of anti-government protests which have left 39 people dead during two months of unrest.Since early February students backed by the opposition have staged near-daily protests against leftist President Nicolas Maduro over soaring crime, high inflation and shortages of essential goods. Hundreds of people have been detained or injured in clashes with security forces.A UN statement said people had the ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln