Colombia Weekly
Central bank publishes neutral minutes. Notwithstanding concerns about soft Q3 growth, the Colombian central bank board is confident that robust growth is continuing in H2 thanks to strong domestic demand, according to the minutes of the 26 October board meeting, released on Friday.
Wednesday, November 14, 2012
Chile: BCCh stood on hold, as expected; neutral bias remained in place
Chile: BCCh stood on hold, as expected; neutral bias remained in place
Florencia Vazquez - Market Economics
Latam Macro Snapshot | 13 Nov 2012 22:00 |
Chile’s central bank kept the policy rate unchanged at 5.0% at today’s monetary policy meeting. The decision stood in line with both our forecast and the median estimate from the Bloomberg survey.
Florencia Vazquez - Market Economics
Latam Macro Snapshot | 13 Nov 2012 22:00 |
Chile’s central bank kept the policy rate unchanged at 5.0% at today’s monetary policy meeting. The decision stood in line with both our forecast and the median estimate from the Bloomberg survey.
Foreclosed Homes Purchased by Colony Capital to be turned into Rental Properties
Foreclosed Homes Purchased by Colony Capital to be turned into Rental Properties
November 13, 2012
Colony Capital, a private real-estate investment firm, won an auction for 970 single family homes from mortgage giant Fannie Mae in a deal that cost the company $176 million. The properties are located in California, Arizona and Nevada, three states that have been hit particularly hard by the housing crisis that first began in 2008.
http://pacificbanc.wordpress.com/2012/11/13/foreclosed-homes-purchased-by-colony-capital-to-be-turned-into-rental-properties/
November 13, 2012
Colony Capital, a private real-estate investment firm, won an auction for 970 single family homes from mortgage giant Fannie Mae in a deal that cost the company $176 million. The properties are located in California, Arizona and Nevada, three states that have been hit particularly hard by the housing crisis that first began in 2008.
http://pacificbanc.wordpress.com/2012/11/13/foreclosed-homes-purchased-by-colony-capital-to-be-turned-into-rental-properties/
Tuesday, November 13, 2012
U.S. Oil Output to Overtake Saudi Arabia’s by 2020
http://www.bloomberg.com/news/2012-11-12/u-s-to-overtake-saudi-arabia-s-oil-production-by-2020-iea-says.html
U.S. Oil Output to Overtake Saudi Arabia’s by 2020
By Lananh Nguyen
U.S. oil output is poised to surpass Saudi Arabia’s in the next decade, making the world’s biggest fuel consumer almost self-reliant and putting it on track to become a net exporter, the International Energy Agency said.
U.S. Oil Output to Overtake Saudi Arabia’s by 2020
By Lananh Nguyen
U.S. oil output is poised to surpass Saudi Arabia’s in the next decade, making the world’s biggest fuel consumer almost self-reliant and putting it on track to become a net exporter, the International Energy Agency said.
Major improvements in copper concentrate supply forecast
Major improvements in copper concentrate supply forecast
In the first eight months of 2012, its Y-o-Y imports of refined copper rose 57.7% to 2.39 mt and of concentrate 14.1% to 4.6 mt
Kunal Bose / Nov 13, 2012, 00:31 IST
India’s two standalone smelters without mine linkages, belonging to Hindalco Industries and Sterlite Industries, have reasons to be happy, with the International Copper Study Group (ICSG) saying the world could see supply surplus of copper concentrate in 2013. That would mark the end of over a decade-long tightness in availability of the mineral for smelting into metal. Principally, on the back of copper mines expansion in Chile and the Oyu Tolgoi copper-gold mine coming on stream, concentrate supply next year, according to ICSG, will see a 6.4 per cent rise.
In the first eight months of 2012, its Y-o-Y imports of refined copper rose 57.7% to 2.39 mt and of concentrate 14.1% to 4.6 mt
Kunal Bose / Nov 13, 2012, 00:31 IST
India’s two standalone smelters without mine linkages, belonging to Hindalco Industries and Sterlite Industries, have reasons to be happy, with the International Copper Study Group (ICSG) saying the world could see supply surplus of copper concentrate in 2013. That would mark the end of over a decade-long tightness in availability of the mineral for smelting into metal. Principally, on the back of copper mines expansion in Chile and the Oyu Tolgoi copper-gold mine coming on stream, concentrate supply next year, according to ICSG, will see a 6.4 per cent rise.
Monday, November 12, 2012
Chile Cochilco Raises 2012 Copper Price View to $3.61 a Pound
Chile Cochilco Raises 2012 Copper Price View to $3.61 a Pound
Published November 12, 2012
Dow Jones Newswires
Chilean state copper commission Cochilco raised its 2012 copper-price outlook to an average of $3.61 a pound, from a previous outlook of $3.52/lb.
Published November 12, 2012
Dow Jones Newswires
Chilean state copper commission Cochilco raised its 2012 copper-price outlook to an average of $3.61 a pound, from a previous outlook of $3.52/lb.
Global Copper Production Under Stress
Global Copper Production Under Stress
Richard (Rick) Mills
Ahead of the Herd
Capital inputs account for about half the total costs in mining production - the average for the economy as a whole is 21 per cent. Obviously many of the costs, once incurred, cannot be recovered by sale or transfer of the fixed assets.
Richard (Rick) Mills
Ahead of the Herd
As a general rule, the most successful man in life is the man who has the best information
Capital inputs account for about half the total costs in mining production - the average for the economy as a whole is 21 per cent. Obviously many of the costs, once incurred, cannot be recovered by sale or transfer of the fixed assets.
Sunday, November 11, 2012
Update On Copper Mining In Chile
**Update On Copper Mining In Chile**
Sunday, 11 November, 2012
By: Charles Kubach, Mine-Engineer.Com
Copper mining costs are being reported ranging from around $2/pound to a high of $3.20 per pound. As China's economy cools to a 5% growth rate, they require fewer resources, such as steel and copper, so the demand weakens, but if American and European economies ever recover, copper will again rise to the $4 per pound level. The trick is to still be in business when that happens, and keeping mines profitable and costs in line is how a mining company will do that. By utilizing process efficiencies, convincing the government to not tax and fee the industry into oblivion, and keeping mine costs in line with projected income will determine if Chile's copper thrives or moves on to another continent.
Sunday, 11 November, 2012
By: Charles Kubach, Mine-Engineer.Com
Copper mining costs are being reported ranging from around $2/pound to a high of $3.20 per pound. As China's economy cools to a 5% growth rate, they require fewer resources, such as steel and copper, so the demand weakens, but if American and European economies ever recover, copper will again rise to the $4 per pound level. The trick is to still be in business when that happens, and keeping mines profitable and costs in line is how a mining company will do that. By utilizing process efficiencies, convincing the government to not tax and fee the industry into oblivion, and keeping mine costs in line with projected income will determine if Chile's copper thrives or moves on to another continent.
Russia: the CBR left rates unchanged in Nov as expected
Russia: the CBR left rates unchanged in Nov as expected
In Russia, the CBR made decision to leave all key rates (depo, repo and refi) unchanged in November. This decision has been highly expected as CPI inflation slowed to 6.5%y/y in October, providing the CBR time for manoeuvre. However, we generally see October's relief in food price pressure as temporary and expect a new round of food inflation soon, resulting in a new acceleration of CPI inflation. This makes monetary tightening likely. We expect the CBR to hike rates by 25bp in Dec and see refi rate at 8.5% by 2012-end (flat in 2013). The decision is planned to in the first ten days of Dec (presumably, 7 Dec 2012).
In Russia, the CBR made decision to leave all key rates (depo, repo and refi) unchanged in November. This decision has been highly expected as CPI inflation slowed to 6.5%y/y in October, providing the CBR time for manoeuvre. However, we generally see October's relief in food price pressure as temporary and expect a new round of food inflation soon, resulting in a new acceleration of CPI inflation. This makes monetary tightening likely. We expect the CBR to hike rates by 25bp in Dec and see refi rate at 8.5% by 2012-end (flat in 2013). The decision is planned to in the first ten days of Dec (presumably, 7 Dec 2012).
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