LATIN-AMERICAN INDUSTRIAL BRIEFS

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Researched by Industrial Info Resources

ALTERNATIVE FUELS

Bunge Acquires the Brazilian Santa Juliana Sugarcane Mill

Bunge Limited (NYSE:BG) (White Plains, New York) has signed an agreement to acquire Agroindustrial Santa Juliana, a sugarcane mill and ethanol-production facility in the state of Minas Gerais, Brazil. The Tenorio Group’s mill, which began commercial operations last year, will have the capacity to mill 1.6 million metric tons during the next harvest season. Bunge plans to increase the capacity to 4 million metric tons per year in the next years.

The Tenorio Group decided to locate the mill in Minas Gerais near the cities of Uberlandia and Araxa, because of the region's favorable conditions for sugarcane production, as well as its proximity to large domestic sugar and ethanol markets, including Sao Paulo.

METALS & MINERALS

Chile’s Codelco Aims to Extend Life of El Teniente Mine

Chile’s state-owned copper company Codelco is setting up an exploration campaign to extend El Teniente mine’s life by 40 years. Codelco, the world’s largest red metal producer, budgeted $2 million for the campaign from 2007-10 in order to drill at the Quebrada Teniente, Pacífico Superior and Nuevo Nivel Mina areas of the mine. El Teniente produced 418,332 tons of copper in 2006.

POWER

Endesa Installs the First Generator at Chile’s Canela Wind Farm

The electric generating company Endesa Eco, Endesa Chile’s subsidiary, began installing the first of 11 wind generators in the 18-megawatt (MW) Canela wind farm, 500 kilometers north of Santiago de Chile, in the Coquimbo region.

The $32 million project will be developed by Endesa Eco, a dedicated subsidiary of Endesa Chile for the development of renewable energy.

Brazil’s Government Plans Bid for 76 Hydroelectric Stations

Brazil’s Mining and Energy Ministry plans to launch a bid for the construction of 76 hydroelectric stations from 2008 to 2011. Those projects would add 26,000 MW of capacity to the national system.

According to the government’s schedule, 14 projects will be bidden on in 2007, totaling 4,814 MW. In 2009, 35 stations (13,843 MW); in 2010, 25 stations (6,311 MW) and in 2011, two stations (1,557 MW).

OIL & GAS

Venezuela to Boost Daily Oil Production to 5 Million Barrels by 2012

Venezuela, the world’s fifth largest oil exporter, will raise its production of crude oil from the current 3.2 million barrels per day to 5 million in 2012, President Hugo Chavez said during his speech to news media. According to Chavez, the main objective is to maintain a fair price in the market. He said he believes that the current price for Venezuela's crude oil is fair in the international market, which is $71.16 a barrel. It is more important for Venezuela to maintain a fair price than to flood the market, he said.

Venezuela’s oil reserves are estimated at 316 billion barrels.

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