BUSINESS OPPORTUNITIES WITHIN THE MINING SECTOR IN LATIN AMERICA. September 23, 2014
|
|
- Franklin Fisher
- 5 years ago
- Views:
Transcription
1 BUSINESS OPPORTUNITIES WITHIN THE MINING SECTOR IN LATIN AMERICA September 23, 2014
2 TOC 1. LATAM OVERVIEW 2. COMMIDITIES UPDATE 3. ARGENTINA 4. BRAZIL 5. PERU 6. MEXICO 7. COLOMBIA 8. CHILE 9. CHALLENGES
3 01 LATAM OVERVIEW
4 LATAM MINING INDUSTRY POSITIONED FOR GROWTH Investments within the mining industry in Latin America are positioned to increase due to growing global demand for metals such as Iron ore and Copper. Source: AQM Copper Inc. 4
5 RANKING OF MINING PRODUCTION 5
6 MINING REVENUE EVOLUTION In 2012, total mining revenue was approximately USD 150B. Two-thirds of the revenue came from Iron ore and Copper. 6
7 DRIVERS AND RESTRAINTS Drivers World economic conditions stabilizing Improved sovereign credit profile* Improving institutional and regulatory framework Restraints Uneven monetary policy among countries Asset re-allocation away from emerging markets Economies are highly dependent on commodities prices * with the exception of Venezuela and Argentina 7
8 GDP Latin America real GDP (annual % change) Country F Change Argentina 3.0% 0.0% -3.0% Brazil 2.5% 1.5% -1.0% Chile 4.1% 3,2%* -0.9% Colombia 4.3% 3.3%* -1.0% Peru 5.8% 3.4%* -2.4% Mexico 1.1% 3.0% +1.9% Source: Wold Bank, IMF,* 8
9 FINANCIAL MARKET METRICS Uneven trend among countries with respect to monetary policy. Some economies will favor currency devaluation in order to spark growth. 9
10 FINANCIAL MARKET METRICS (CONT.) 10
11 DEALS More investment is expected in the region as companies target opportunities for low cost, high growth projects. 11
12 TOP GLOBAL INVESTMENTS Serra Sul Iron Ore Projects Constancia Copper Deposits El Mutan Iron Ore Deposits Pascua-Lama Gold Mine Ministro Hales Copper Deposits Minas Rio Iron Ore Deposit Salobo Copper Mine Vermelho Nickel Mine Caserones Copper Deposits 12
13 RESERVES IN EMERGING MARKETS Venezuela: Bauxite, Iron Ore Guyana: Bauxite Suriname: Bauxite Bolivia: Lithium 13
14 SNAPSHOT OF COUNTRIES UNDER ANALYSIS - Brazil is the world s 5 th largest mineral producer - Brazil s largest installed mining operations are for iron ore, representing nearly 17% of the world s total - Brazil is one of the largest importers of metallurgical coal - Argentina is the world's second producer of lithium and the third world exporter of potash. - Mining production has become Argentina's third most important export item behind grains, oilseed and food produce. - Peru is the 2nd largest silver global producer - Gold 6th largest global producer - Copper 2nd largest known reserves in the world 14
15 MAIN INVESTMENTS IN BRAZIL Source: IBRAM (instituto brasileiro de mineração) 15
16 MAIN INVESTMENTS IN ARGENTINA Source: Frost & Sullivan 16
17 02 COMMODITIES UPDATE
18 THE END OF THE COMMODITIES SUPER CYCLE Tapering of US quantitative easing combined with China slowdown/rebalancing will be bearish for prices Prices have fallen across the minerals space since 2013 Supply abundance will temper price spikes in the event of rising demand and political or weather related supply disruptions. Major new projects will come online in across the minerals spectrum. Some shuttering of marginal operations offset by new supply. BUT companies will continue to face political risk and resource nationalism that could impact project margins Source: PWC (prepared by Eurasia Group) 18
19 PRECIOUS METALS - The price of GOLD fell -1.2% in the last month. - Demand fell (-16% a/a) and supply rose (+10% a/a) in 2T14.* - Demand contractions are a result of dwindling demand in the jewelry sector (-30% a/a), and physical gold as an investment (-56% a/a). - The price of PALLADIUM rose +26% since February, reaching 2001 maximums. - Price increase was a result of concerns regarding the worlds principle producers: South Africa and Russia. - South Africa: 5 months of strikes have impacted average production. - Russia: concerns of possible commercial sanctions from Europe. * Source: Word Gold Council 19
20 BASIC METALS - The price of COPPER rose +11% since mid march k ton deficit in the first 5 months of In the same period, global demand rose +15% a/a, led by China (+29% a/a), EU (+18% a/a), and Japan (+13% a/a). - From the supply side, global production rose +5% a/a, led by Chile, Peru, and USA (+6% a/a the three). - The price of ALUMINIUM rose +14% since mid May, reaching August 2013 maximums. - The increase in Price was a result of lower production from Brazil (third largest aluminum reserve in the world) and an increase in imports from Japan (+18% a/a). - Price will stabilize in the 2H of 2014 due to excess supply in China. 20
21 03 ARGENTINA
22 ARGENTINA: A MONETARY OVERHANG BY 4Q14 Despite an expected expansion in real balances fueled by money supply, we expect a reduction in money demand towards year-end, along weaker activity and higher inflation/depreciation expectations, leading to a money overhang. Without a monetary contraction, a larger wedge will imply larger expected upswings in the exchange rate and the domestic price level. We expect an inflation rate of at least 45%yoy in 2015 and an exchange rate of at least 10ARS/USD by January as result. An exchange rate of 10ARS/USD could close the current money overhang. 22
23 ARGENTINA: POLITICAL OUTLOOK Current President Party Assumed office Term ends 2015 Term (conditions)* Strongest Opposition Highlights * Source: Wikipedia Cristina Fernández de Kirchner Justicialist / Frente Para la Victoria (FPV) December 10, 2007 (second term) Under the 1994 constitutional amendment, the President serves for four years, with a possibility of immediate reelection for one more term. A person may be reelected again after serving for two terms, and staying out of office for the following term. Mauricio Macri (PRO) Sergio Massa (Frente Renovador) As the Constitution of Argentina does not allow for three consecutive terms, President Fernández de Kirchner can not run again. It is unclear who will be Cristina s candidate for the FPV in
24 ARGENTINA: MINING OVERVIEW Approximately 25% of Argentina s territory has been geographically explored. There are about 100-odd mining projects currently running in Argentina related to silver or gold. Gold, Silver, Copper and other Base Metals Industrial Minerals Coal 24
25 ARGENTINA: MAJOR MINING COMPANIES Source: Frost & Sullivan 25
26 ARGENTINA: IMPORT EXPORT SCENARIO Imports of metals and minerals are growing at a faster rate than exports. 26
27 04 BRAZIL
28 BRAZIL: POLITICAL OUTLOOK Current President Dilma Rousseff Party Partido dos Trabalhadores (PT) Assumed office January 1st, 2011 Term ends 2015 Term (conditions)* Strongest Opposition Highlights Terms last four years with the possibility of being reelected once. Aécio Neves (PSDB) Marina Silva (PSB) First round elections start October 5 th, Presdent Dilma Rousseff in running for reelection, and is slightly ahead in preliminary poles. 28
29 BRAZIL: MAJOR MINING COMPANIES Source: Frost & Sullivan 29
30 BRAZIL: IMPORT EXPORT SCENARIO Iron ore represents 80% of Brazils mining exports. The country has a positive trade balance. 30
31 05 PERU
32 PERU: A BRAKE FROM INFLATION: TIME FOR A CUT? We expect the BCRP to deliver a rate cut before year-end, as we expect lower GDP growth for 2014 we expect a growth rate near 3.5%, below the 4% expected by officials Investors are currently pricing a rate cut at some point during the next three months, but lower growth is not priced-in. We expect lower growth of private consumption on less optimistic private we estimate a 4%yoy growth in private consumption. The deceleration in internal sales tax collection, with year-to-date real growth of 3.75%, also points to a deceleration in private consumption. We find that the recent update in official estimations suggests no extra fiscal expansion revision on public consumption from a growth of 5.5% yoy to 9.6% yoy, implying a higher expenditure of PEN2.5bn. Our calculations on exports and investments take into account delays in mining and infrastructure projects. 32
33 PERU: POLITICAL OUTLOOK Current President Party Assumed office July 28, 2011 Term ends 2016 Term (conditions)* Strongest Opposition Highlights * Source: Political Constitution of Peru, Article 112 Ollanta Moisés Humala Tasso Partido Nacionalista Peruano Five years, with no immediate reelection. After an interim 5 period out of office, a former president may run for president again. There is no limit to the number of times a person may serve as president. Alan Garcia (APRA) Keiko Fujimori (Fuerza Popular) As the Constitution of Peru does not allow for two consecutive terms, President Humala is unable to run for reelection. It is widely considered that his spouse, Nadine Heredia, will run for the Presidency in
34 PERU: MAIN MINERAL DEOPOSIT MAP Source: PWC 34
35 06 MEXICO
36 MEXICO: POLITICAL OUTLOOK Current President Enrique Peña Nieto Party Institutional Revolutionary Party (PRI) Assumed office December 1, 2012 Term ends 2018 Term (conditions)* Six years single term Strongest Opposition Highlights * Source: Wikipedia Andrés Manuel López Obrador (PRD) Josefina Vázquez Mota (PAN) President Enrique Peña Nieto s election marked the return of the PRI after a twelve-year hiatus. The PRI had governed Mexico uninterrupted for 71 years until it was defeated by the National Action Party (PAN) in 2000.* 36
37 MEXICO: FUTURE MINING PROJECTS Gold, Silver and Copper account for 75% of total mining exports. 37
38 MEXICO: FUTURE MINING PROJECTS Project Company Started Angagngueo Grupo Mexico 2014 Buenavista del Cobre Grupo Mexico NA Camino Rojo Goldcorp 2015 Cerro del Gallo Primero Mining/Goldcorp 2016 Concherflo Minera Frisco 2015 El Arco Minera Frisco NA El Coronel Grupo Mexico
39 07 COLOMBIA
40 COLOMBIA: POLITICAL OUTLOOK Current President Juan Manuel Santos Party Partido Social de Unidad Nacional Assumed office August 7 th, 2010 Term ends 2018 (second term) Term (conditions)* 4 year term with possibility of reelection. Strongest Opposition Óscar Iván Zuluaga (Centro Democrático) Highlights Juan Manuel Santos was reelected in June 2014 with 50.95% of popular vote. 40
41 COLOMBIA: MINING OVERVIEW Coal and Gold production is expected to more than double by 2019 (compared to 2009 levels). Historical Mining production of Colombia ( ) Source: Ingeominas 41
42 08 CHILE
43 CHILE: POLITICAL OUTLOOK Current President Michelle Bachelet Party Socialista Assumed office March 11, 2014 Term ends 2018 Term (conditions)* Four years, with immediate re-election being prohibited. Strongest Opposition Evelyn Matthei (UDI) Highlights President Michelle Bachelet was reelected for a second time ( , first term). 43
44 CHILE: MINING OVERVIEW Source: KPMG 44
45 09 CHALLENGES
46 PERU: CHALLENGES Source: PWC 46
47 MEXICO: CHALLENGES 1. Energy Costs Mining requires intensive consumption of electricity which is expensive in Mexico 2. Security Companies seek to protect their workers and mining operations from organized crime, but measures taken have proven insufficient. 3. Sustainability Negative environmental impacts as a result of mining companies lacking technical operations, has been a point of ontention for many organizations and agencies, opposing the development of the sector. 4. Profitability Imposition of new taxes is impacting company investment decisions. Source: PWC 47
48 COLOMBIA: CHALLENGES 1. Infrastructure Current roads and railways are not sufficient to import the needed machinery for mining and exploring 2. License to Operate The pace at which the government approves exploration and construction permits is limiting investment in the country. 3. Illegal Mines Increasingly there are a number of mines operating without government permission Source: PWC 48
49 CHILE: CHALLENGES 1. Energy & Water Chilean mining companies are conscious about high energy costs and a scarcity of water resources. Some have initiated construction of solar plants to provide the energy needed to their operations. 2. Infrastructure Chile s geographical landscape contains over 4,000 km of coast with port terminals located relatively close to mineral deposits, in which major ports remain in state hands. 3. Workforce Students lack interest to become part of the mining workforce, due to geographic mobility, labour activities, and the necessity for specialization.. 4. Government Policy The new government is to enact policies that are speculated to negatively impact mining. Source: PWC 49
Perú: Economic and Political Overview
Perú: Economic and Political Overview Economy Growth GDP: Quarterly Growth - Develop vs. Emerging vs. Perú Latin-American GDP Economy Growth MM. S/. 250000 Gross Domestic Product 200000 150000 100000 50000
More informationPREMIUM TRAFFIC MONITOR JANUARY 2014 KEY POINTS
Premium Pax, Million Economy Pax, Million PREMIUM TRAFFIC MONITOR JANUARY 14 KEY POINTS The number of passengers traveling in premium seats on international markets expanded by a solid 6.1% in January
More informationCHILE: A RELIABLE PARTNER FOR ASIA
CHILE: A RELIABLE PARTNER FOR ASIA I ASIA COPPER WEEK CONFERENCE November 2012 Shanghai, China HERNÁN DE SOLMINIHAC Minister of Mining Santiago de Chile Source:SERNATUR CHILE A reliable partner for Asia
More informationEconomic Climate Index - Latin America
Oct-08 Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Oct-13 Jan-14 Apr-14 Jul-14 Oct-14 Jan-15 Apr-15 Jul-15 Oct-15
More informationEconomic climate in Latin America improved slightly, despite worsening in Brazil
August 13 th APRIL/2015 Ifo/FGV Economic Climate Index for Latin America 71 74 JULY/2015 Economic climate in Latin America improved slightly, despite worsening in Brazil The Ifo/FGV Economic Climate Index
More informationInternational economic context and regional impact
Contents I. GDP growth trends in Latin America and the Caribbean in 2012 II. Regional performance in 2012: Inflation, employment and wages External sector Policies: Fiscal and Monetary III. Conclusions
More informationLand area 1.73 million km 2 Queensland population (as at December 2016) Brisbane population* (preliminary estimate as at 30 June 2016)
Queensland - 11 Queensland OVERVIEW Queensland is nearly five times the size of Japan, seven times the size of Great Britain, and two and a half times the size of Texas. Queensland is Australia s second
More informationINVESTMENT PROJECTS IN THE PERUVIAN MINING
INVESTMENT PROJECTS IN THE PERUVIAN MINING ROMULO MUCHO Rio de Janeiro, October 21st, 2016 romulomucho1@gmail.com PERU'S GEOGRAPHIC INFORMATION COUNTRY OVERVIEW ECONOMIC GROWTH RATES Latinamerica projections:
More informationAIR PASSENGER MARKET ANALYSIS
Monthly RPK (Billions) Monthly FTK (Billions) Index of business confidence % change over year AIR PASSENGER MARKET ANALYSIS NOVEMBER 2013 KEY POINTS Air travel markets increased at a solid rate in November,
More informationState of the Market: Latin America
State of the Market: Latin America Presented by: Glen Jones mine latin america, Toronto November 15 th 2013 marketing@intierrarmg.com Who Are We Leadership: Over 30 years of providing mining information
More informationIndex of business confidence. Monthly FTK (Billions) Aug 2013 vs. Aug 2012 YTD 2013 vs. YTD 2012 Aug 2013 vs. Jul 2013
AIR PASSENGER MARKET ANALYSIS AUGUST 2013 KEY POINTS Air travel markets expanded strongly in August. Global revenue passenger kilometers were up 6.8% compared to a year ago, an improvement on July growth
More informationPreliminary Overview of the Economies of Latin America and the Caribbean
Inter-American Dialogue Preliminary Overview of the Economies of Latin America and the Caribbean - 2006 José Luis Machinea Executive Secretary Economic Commission for Latin America and the Caribbean Washington
More informationDaniel Titelman Director Economic Development Division
Daniel Titelman Director Economic Development Division Economic trends in the region continue to be marked by: Uncertainty and risk in the global economy: External demand remains sluggish, which reflects
More informationAlianza del Pacífico. October, Germán Ríos May 2012
Alianza del Pacífico October, 2011 Germán Ríos May 2012 Table of Contents The integration process in Latin America The future is Asia Latin America and Alianza del Pacífico The integration process in Latin
More information2012 Americas School of Mines
www.pwc.com 2012 Americas School of Mines Australia Wayne Huf 2 Section One Some Background on Australia 3 Top 10 Deadliest Animals in Australia 1. Box Jellyfish 2. Inland Taipan Snake 3. Saltwater Crocodile
More informationLand area 1.73 million km 2 Queensland population (as at 31 December 2017) Brisbane population* (preliminary estimate as at 30 June 2017)
Queensland - 11 Queensland OVERVIEW Queensland is nearly five times the size of Japan, seven times the size of Great Britain, and two and a half times the size of Texas. Queensland is Australia s second
More informationLatin American Oil & Gas The Race to the Top RoseAnne Franco, Head of Oil & Gas Risk
Latin American Oil & Gas The Race to the Top RoseAnne Franco, Head of Oil & Gas Risk April 2017 1 Agenda I. Latin America regional trends II. A look at key countries Argentina, Brazil and Mexico III. Competitiveness
More informationIndex of business confidence. Monthly FTK (Billions) Sep 2013 vs. Sep 2012 YTD 2013 vs. YTD 2012 Sep 2013 vs. Aug 2013
AIR PASSENGER MARKET ANALYSIS SEPTEMBER 2013 KEY POINTS Air travel markets expanded at a solid rate in September. Global revenue passenger kilometers were up 5.5% compared to a year ago. This is a slight
More informationCOLOMBIAN: RECENT DEVELOPMENTS
COLOMBIAN: RECENT DEVELOPMENTS Why do business in Colombia? Strategic geographic location: easy access to the North American, European, Asian and Latin American markets. Macroeconomic stability: economic
More informationAlberto Calderon Group Executive and Chief Executive Aluminium, Nickel and Corporate Development
Port Hedland, Iron Ore, Australia Alberto Calderon Group Executive and Chief Executive Aluminium, Nickel and Corporate Development Economic and Social Outlook Conference 1 November 2012 Disclaimer Forward
More informationBTMU Focus Latin America Argentina: Export Profile
BTMU Focus Latin America Argentina: Export Profile MUFG UNION BANK Economic Research (New York) Hongrui Zhang Latin America Economist hozhang@us.mufg.jp +1(212)782-5708 Updated November 25, 2015 Argentine
More informationOutlook for (some) Emerging Economies
Outlook for (some) Emerging Economies Sebastián Claro Deputy Governor Central Bank of Chile 11th Asia Copper Conference, Shanghai, November 18, 215 Central Bank of Chile, November 215 1 The last 1 years
More information1Q 2017 Earnings Call. April 18, 2017
1Q 2017 Earnings Call April 18, 2017 Safe Harbor Statement Certain statements included in this presentation are forward-looking and thus reflect our current expectations and beliefs with respect to certain
More informationContents of the Economic Survey 2012
Contents of the Economic Survey 2012 I. Macroeconomic trends in Latin America and the Caribbean in 2012 II. Reactions of the countries of the region to the adversities of the global economy III. Savings
More informationAIR PASSENGER MARKET ANALYSIS
Monthly RPK (Billions) Monthly FTK (Billions) Index of business confidence % change over year AIR PASSENGER MARKET ANALYSIS APRIL 2013 KEY POINTS Global revenue passenger kilometers were up 3.2% in April
More informationQuarterly Aviation Industry Performance
Quarterly Aviation Industry Performance ALAFCO Aviation Lease and Finance Company K.S.C.P. Quarterly Aviation Industry Performance 3Q17 (Updated November 17) Prepared by: Strategic Planning department
More informationQueensland Economic Update
Queensland Economic Update Chamber of Commerce & Industry March 2018 cciq.com.au Queensland Economic Update: Summary National Accounts GDP expanded 2.3% during calendar year 2017. QLD state final demand
More informationLand area 1.73 million km 2 Queensland population (December 2015) Brisbane population* (June 2015)
Queensland - 18 Queensland OVERVIEW Queensland is nearly five times the size of Japan, seven times the size of Great Britain, and two and a half times the size of Texas. Queensland is Australia s second
More informationStrategic considerations for network expansion in the economic region Rio de la Plata
Strategic considerations for network expansion in the economic region Rio de la Plata Logistics Forum Bremen, 10th November 2011 Hans-Ludger Körner, Chief Financial Officer Röhlig & Co. Holding GmbH &
More informationI. Chile, a key destination for mining industry. 25 Memorandum of understanding (MoU). Chile connects with various markets:
I. Chile, a key destination for mining industry A country connected to the world Trade agreements with 64 countries, which avoid double taxation. 25 Memorandum of understanding (MoU). Chile connects with
More informationCommercial Exchange Rate
Commercial Exchange Rate Real (R$) / US dollar (US$), daily report R$ / US$ 4.5 4 3.5 3 2.5 2 1.5 1 25 26 27 28 29 2 211 212 213 214 215 216 Source: Central Bank of Brazil (Banco Central do Brasil, Sistema
More informationIndex of business confidence. Monthly FTK (Billions) Apr 2014 vs. Apr 2013 YTD 2014 vs. YTD 2013 Apr 2014 vs. Mar 2014
AIR PASSENGER MARKET ANALYSIS APRIL 2014 KEY POINTS Growth in air travel picked-up in April, rising 7.5% compared to a year ago. This is an acceleration on March, when revenue passenger kilometers increased
More informationFOREIGN INVESTMENT IN LATIN AMERICA AND THE CARIBBEAN 2002 REPORT
FOREIGN INVESTMENT IN LATIN AMERICA AND THE CARIBBEAN 2002 REPORT United Nations ECLAC Structure of the 2000 Report Chapter I: Regional Overview Chapter II: Andean Community Chapter III: International
More informationPREMIUM TRAFFIC MONITOR JULY 2014 KEY POINTS
PREMIUM TRAFFIC MONITOR JULY 2014 KEY POINTS Growth in international air passengers was weak for a second consecutive month with a 2.6% increase in July compared to a year ago premium seat numbers rose
More informationMozambique My Country, My Life. Gaspar Buque. SARA International Mobility Group June 2014
Mozambique My Country, My Life Gaspar Buque SARA International Mobility Group June 2014 This Presentation will cover My Profile Mozambique at a glance Fast growing economy Doing Business rank Employment
More informationNOVEMBER YEAR III LATIN AMERICA&CARIBBEAN MID-MARKETS: OPPORTUNITIES IN THE REGION
NOVEMBER 2011 - YEAR III MARKETWATCH LATIN AMERICA&CARIBBEAN MID-MARKETS: OPPORTUNITIES IN THE REGION THE REGION IN PERSPECTIVE LAC in Perspective - 2011 Facts % of the world 595 mi people 9,3 $ 5,8 tri
More informationDoing Business in Latin America and the Caribbean. Rita Ramalho Program Manager
Doing Business in Latin America and the Caribbean Rita Ramalho Program Manager What does Doing Business measure? Doing Business indicators: Focus on regulations relevant to the life cycle of a small to
More informationRakennusalan mahdollisuudet Latinalaisessa Amerikassa. Heta Pyhälahti Region Americas
Rakennusalan mahdollisuudet Latinalaisessa Amerikassa 25.5.2010 Finpro Finpro Heta Pyhälahti Region Americas Content Latin American countries and Construction ti sectors Reconstruction in Chile Timber
More informationCHINA Y AMERICA LATINA: RELACIONES COMERCIALES Y ECONOMICAS
CHINA Y AMERICA LATINA: RELACIONES COMERCIALES Y ECONOMICAS RHYS JENKINS SCHOOL OF DEVELOPMENT STUDIES UNIVERSITY OF EAST ANGLIA Presentación al CECHIMEX, 6 de septiembre 2006 CHINA S GLOBAL SIGNIFICANCE
More informationSurrendering Secrecy: Freedom of Information and the Politics of Transparency in Latin America. Gregory Michener, Ph.D.
Surrendering Secrecy: Freedom of Information and the Politics of Transparency in Latin America Gregory Michener, Ph.D. rgm@gregmichener.com Questions 1. Why have FOI outcomes differed so greatly across
More informationContribution from UNCTAD dated: 4 June 2012
Report of the UN Secretary-General: Necessity of ending the economic, commercial and financial embargo imposed by the United States of America against Cuba (A/67/118) Contribution from UNCTAD dated: 4
More informationIndex of business confidence. Monthly FTK (Billions) May 2014 vs. May 2013 YTD 2014 vs. YTD 2013 May 2014 vs. Apr 2014
AIR PASSENGER MARKET ANALYSIS MAY 2014 KEY POINTS Air travel markets rose by a strong 6.2% in May compared to a year ago. Although this is slightly down on April growth of 7.6%, April was positively biased
More informationMRO Market Update & Industry Trends
January 25-26, 2017 Cancun, Mexico Presented by: Jonathan M. Berger Vice President ICF jberger@icf.com MRO Market Update & Industry Trends 0 Today s Agenda Fleet & MRO Forecast 2016: What a long strange
More informationAIR PASSENGER MARKET ANALYSIS
AIR PASSENGER MARKET ANALYSIS OCTOBER 2014 KEY POINTS Air travel volumes were up 5.7% in October year-on-year, slightly stronger than the September rise of 5.2%, and a continuation of the positive growth
More informationSantander 22 nd Annual Latin American Conference. Cancun, January 2018
Santander 22 nd Annual Latin American Conference Cancun, January 2018 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating
More informationUBS 14 th Global Emerging Markets Conference. New York, November 2016
UBS 14 th Global Emerging Markets Conference New York, November 2016 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating
More informationAIR PASSENGER MARKET ANALYSIS
Monthly RPK (Billions) Monthly FTK (Billions) Index of business confidence % change over year AIR PASSENGER MARKET ANALYSIS JANUARY 2014 KEY POINTS Air travel markets commenced 2014 with a strong increase
More informationLatin America. An Overview. Mariella Dauphinee CBMU Fall Conference / November 28, 2017
Latin America An Overview Mariella Dauphinee CBMU Fall Conference / November 28, 2017 2 Definitions South America is a continent whereas Latin America is a cultural region South America is composed of
More informationContribution from UNCTAD dated: 29 June 2010
Report of the UN Secretary-General: Necessity of ending the economic, commercial and financial embargo imposed by the United States of America against Cuba (A/65/83) Contribution from UNCTAD dated: 29
More informationOpportunities in Colombia
Opportunities in Colombia Colombia at a Glance 3 rd largest population in Latin America Location, location, location Strong U.S. ally Free Trade partner as of May 15, 2012 Headlines: Government Among region
More informationWhy Colombia Investment Environment & Business Opportunities
Why Colombia Investment Environment & Business Opportunities Tobias Meurer Mai 2017 Table of Content 1. Recent Macroeconomic Developments 2. Investment Environment 3. Export Platform 4. Wood processing
More informationLatin America: Outlook and Challenges Alejandro Werner Director Western Hemisphere Department
International Monetary Fund Washington, DC. May, 3 Latin America: Outlook and Challenges Alejandro Werner Director Western Hemisphere Department Developments and Outlook Policy Challenges and Priorities
More informationBenchmarking Travel & Tourism in United Arab Emirates
Benchmarking Travel & Tourism in United Arab Emirates How does Travel & Tourism compare to other sectors? Summary of Findings, November 2013 Sponsored by: Outline Introduction... 3 UAE summary...... 8
More informationRegional Activities. 25 June Carlos Vogeler Director Executive Secretary for Members Relations and Regional Director for the Americas UNWTO
Regional Activities 25 June 214 Carlos Vogeler Director Executive Secretary for Members Relations and Regional Director for the Americas UNWTO UNWTO documents distributed 1. UNWTO Tourism Highlights (214
More informationTIQ Latin America. Mining - METS
TIQ Latin America Mining - METS Latin America Overview Latin America Overview Mining Investments in Latin America Source: Latin America Mining and Energy Consensus Forecast Trade Mission October 2015 2
More informationGlobal Economic Outlook
Global Economic Outlook Brian Pearce Chief Economist Embargoed until 10:30AM CET 1 Million barrels a day US$ per barrel Are the markets signalling recession ahead? 60 55 Business confidence (left scale)
More informationTextile Per Capita Consumption
January 2018 Textile Per Capita Consumption 2005-2022 Part 2: Upper middle income countries - - CHF500.- Table of Contents Preface... 4 Sources... 5 Definitions... 6 Charts... 7 Executive Summary... 10
More informationFact Sheet ELANBiz: Country Profile Brazil 1
Fact Sheet ELANBiz: Country Profile Brazil 1 Prepared by ELANBIZ Trade Expert in Brazil. Updated to February, 2018 For additional information, use our service Ask the Expert Basic Information Official
More informationAIR TRANSPORT MARKET ANALYSIS JULY 2011
AIR TRANSPORT MARKET ANALYSIS JULY 2011 KEY POINTS Despite an increasingly gloomy economic outlook, air travel continued to expand at a pace close to trend in July, to a level 5.9% higher than a year earlier.
More information2Q 2017 Earnings Call. July 19, 2017
2Q 2017 Earnings Call July 19, 2017 Safe Harbor Statement Certain statements included in this presentation are forward-looking and thus reflect our current expectations and beliefs with respect to certain
More informationEU Trade policy in Latin America
EU Trade policy in Latin America Thomas LE VAILLANT European Commission DG TRADE - Relations with Latin America Topics 1.Trade and investment flows 2. Regionalism in Latin America 3. State of play 4. Architecture
More informationExane BNP Paribas European Seminar
Escondida, Chile Positioned for Growth Exane BNP Paribas European Seminar Andrew Mackenzie Chief Executive Non-Ferrous 8 June 2011 Disclaimer Reliance on Third Party Information The views expressed herein
More informationCanadian Gold Industry Report,
Canadian Gold Industry Report, 2008-2009 This report, with more than 150 charts, demonstrates in detail current status and development trends of Canadian gold industry. Canada, due to its vast territory
More informationLatin American Trade Trend Estimates 2012
Latin American Trade Trend Estimates 2012 Paolo Giordano, Jeremy Harris and Matthew Shearer Integration and Trade Sector Vice-presidency of Sectors and Knowledge Inter-American Development Bank This note
More informationParaguay. International Trade Report January-May 2015
Paraguay International Trade Report January-May 2015 MH / SSEE / DI / DECI MAY 2015 INDEX EXPORTS Graph 1: Evolution of Exports (January to May 2011-2015) Graph 2: Exports by major trade blocs and countries
More informationNewcrest & the Gold Sector. Brisbane Mining Club 26 April Ian Smith Managing Director and CEO NEWCREST
Newcrest & the Gold Sector Brisbane Mining Club 26 April 2007 Ian Smith Managing Director and CEO Total refined gold production throughout history ( ~ 130,000 tonnes ) would form a 20 metre cube ( a six
More informationOffice Market Overview
Office Market Overview Latin America Mid-year 2014 Falling exports and oversupply are leading to falling demand and rising vacancy in several Latin American cities. Nearly 800,000 m 2 in new supply and
More informationBank of America Merrill Lynch 2018 Emerging Markets Corporate Credit Conference. Miami, May 2018
Bank of America Merrill Lynch 2018 Emerging Markets Corporate Credit Conference Miami, May 2018 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated
More informationEconomic Benefits of Air Transport in Panama
Economic Benefits of Air Transport in Panama Economic Benefits of Air Transport in Panama Acknowledgements Oxford Economics acknowledges the assistance from the International Air Transport Association
More informationBRAZIL INTERNATIONAL INBOUND TRAVEL MARKET PROFILE (2011) Copyright 2012 by the U.S. Travel Association. All Rights Reserved.
BRAZIL INTERNATIONAL INBOUND TRAVEL MARKET PROFILE (211) Copyright 212 by the U.S. Travel Association. All Rights Reserved. EXECUTIVE SUMMARY With a population of nearly 2 million and a GDP exceeding $2
More informationLatin America and the Caribbean: Fact Sheet on Leaders and Elections
Latin America and the Caribbean: Fact Sheet on Leaders and s Julissa Gomez-Granger Information Research Specialist Mark P. Sullivan Specialist in Latin American Affairs January 28, 2010 Congressional Research
More informationLatin America Logistics Overview. Brazil, Argentina and Chile
Latin America Logistics Overview Brazil, Argentina and Chile Brazil Country Overview Brazil has the largest and most modern industrial park in Latin America. Brazil's diverse industries range from automobiles,
More informationBenchmarking Travel & Tourism in Russia
Benchmarking Travel & Tourism in Russia How does Travel & Tourism compare to other sectors? Sponsored by: Summary of Findings, November 2013 Outline Introduction... 3 Russia summary..... 8 Data sources
More informationEgypt. Tourism in the economy. Tourism governance and funding. Ref. Ares(2016) /06/2016
Ref. Ares(2016)3120133-30/06/2016 II. PARTNER COUNTRY PROFILES EGYPT Egypt Tourism in the economy International visitor arrivals to Egypt reached 9.9 million in 2014, generating a total of USD 7.2 billion
More informationCaribbean: Outlook and Challenges
Caribbean: Outlook and Challenges Nicole Laframboise International Monetary Fund Views expressed are those of the speaker alone and should not be reported as representing the official position of the International
More informationThe Financial Agenda: Investment Climate in South America
The Financial Agenda: Investment Climate in South America Guayaquil, Ecuador Clay B Dickinson Managing Director, Latin America Hotel and Hospitality Source: Traveltobank.com Global Hotel Investment Market
More informationBHP Billiton: A Strategy of Diversification
Olympic Dam, Australia BHP Billiton: A Strategy of Diversification Andrew Mackenzie Chief Executive Non-Ferrous 9 June 2010 Disclaimer Reliance on Third Party Information The views expressed here contain
More information!"# $ Presented by Hon. Richard Court AC, Chairman, GRD Minproc Limited Tuesday 22 September 2009
!"# $ Presented by Hon. Richard Court AC, Chairman, GRD Minproc Limited Tuesday 22 September 2009 Bullet 1 - Bullet 2 Bullet 3 2 % Brazil and Australia have much in common Both in the Southern Hemisphere.
More informationKosovo s economic and investment potential
Kosovo s economic and investment potential Jane Armitage Country Director US-Kosovo Trade & Investment Forum New York October 27, 2010 1 Topics covered in the presentation Kosovo s economic and investment
More informationCOLOMBIA: STRATEGIC PARTNER FOR OUTSOURCING. Luis Carlos Villegas President National Business Association of Colombia MAY 2011
COLOMBIA: STRATEGIC PARTNER FOR OUTSOURCING Luis Carlos Villegas President National Business Association of Colombia MAY 2011 1. Colombia: A country building its future 2. The Latin American context 3.
More informationManganese Industry Outlook and Opportunities. Elsabe Muller General Manager, Manganese Marketing May 2014
Manganese Industry Outlook and Opportunities Elsabe Muller General Manager, Manganese Marketing May 2014 Disclaimer Forward-looking statements This release contains forward looking statements, including
More informationQLD Economic Outlook. Thursday, 21 December Key Points: State Report QLD. Summary
Thursday, 21 December 217 QLD Economic Outlook Summary Queensland s economy has been subdued over the past couple of years, as declining commodity prices and a sharp slowdown in mining investment weighed
More informationPeru: Investment Opportunities Infrastructure and public services
Peru: Investment Opportunities Infrastructure and public services 2017-2018 PERU S STRONG MACROECONOMIC CREDENTIALS Real GDP, 2004-2018* (%Variation) Real GDP Forecasts for Latin America 2017 (Annual Average
More informationTourism Snapshot A focus on the markets that the CTC and its partners are active in Ontario June 2011 Volume 7, Issue 6
Tourism Snapshot Ontario A focus on the markets that the CTC and its partners are active in www.canada.travel/corporate June 2011 Volume 7, Issue 6 Key highlights In June 2011, overnight travel to Canada
More informationAsia Pacific Aviation
Asia Pacific Aviation Industry Perspective Andrew Herdman Director General Association of Asia Pacific Airlines International Aviation Fuel Conference 5 April 2012 Beijing, China Overview Global Mobility
More informationAirlines across the world connected a record number of cities this year, with more than 20,000 city pair connections*
1 Airlines across the world connected a record number of cities this year, with more than 20,000 city pair connections*. This is a 1,351 increase over 2016 and a doubling of service since 1996, when there
More informationInvestment Highlights
Third Quarter 2014 Investment Highlights 1 Mexican airport portfolio positioned to take full advantage of global growth. 2 Diversified business model contributing to earnings resilience. 3 Well-defined
More informationALFONSO MARTINEZ VERA APRIL,
ALFONSO MARTINEZ VERA APRIL, 2012 I MEXICO S COPPER PRODUCTION II MEXICO S COPPER RESOURCES III COPPER EXPLORATION IV NEW COPPER OPERATIONS V CONCLUSIONS 1 LOCATION OF THE MOST SIGNIFICANT PORPHYRY COPPER
More informationThe CIS Precious Metals and Stones Summit
The CIS Precious Metals and Stones Summit Hugh Agro Sr. Vice President, Corporate Development Kinross Gold Corporation Moscow 13 February 2006 Legal Notice Certain statements set forth in this presentation
More informationGBTA BTI Outlook and Economic Forecast for Business Travel in Asia Pacific, Thailand and around the World
GBTA BTI Outlook and Economic Forecast for Business Travel in Asia Pacific, Thailand and around the World Research Sponsored by: Welf J Ebeling Vice President, Operations - Asia Pacific Global Business
More informationAIR PASSENGER MARKET ANALYSIS JUNE 2015 KEY POINTS
AIR PASSENGER MARKET ANALYSIS JUNE 2015 KEY POINTS Global air travel rose 5.7% in June compared to a year ago, a slowdown on the strong May increase of 6.9%. The deceleration is due to slower growth in
More informationGross Domestic Product Growth
Gross Domestic Product Growth GDP Growth Rate 2 5 Latin America Developing Asia China Developed Aisa Western Europe 5-5 Data Source: WB, ADB, IMF, and Bloomberg 8 85 9 95 3 GDP Growth in Latin America
More informationTRADE STATISTICS BULLETIN
TRADE STATISTICS BULLETIN May 2014 Est. by Statistics Act 9 of 2011 Namibia Statistics Trade Statistics Bulletin, May 2014 Agency 1 MISSION STATEMENT In a coordinated manner we produce and disseminate
More informationColombia: An Upcoming Emerging Market for International Investors April 2012
Colombia: An Upcoming Emerging Market for International Investors April 2012 Proexport is the organization within the Colombian Government responsible for the promotion of International Tourism, Foreign
More informationARGENTINA: A Strategic Investment and Business Destination
ARGENTINA: A Strategic Investment and Business Destination Undersecretariat for Investment Development and Trade Promotion Secretariat of International Economic Relations Ministry of Foreign Affairs and
More informationZAMBIA Land of OPPORTUNITIES & PROFITS. Zambia Development Agency
ZAMBIA Land of OPPORTUNITIES & PROFITS Zambia Development Agency Presentation Strategy Strengths of Zambia Key Investment Consideration Zambia from a Foreign Perspective Sectors of focus for Investment
More informationAn Introduction to the Peruvian Economy. Renzo Del Giudice ( 洛子謙 )
An Introduction to the Peruvian Economy Renzo Del Giudice ( 洛子謙 ) Introduction I would like to introduce you one of the best performing economies in Latin America: Peru. First, I will explain about the
More informationGold Mining an Industry in Transition. Melbourne Mining Club 7 June Ian Smith Managing Director and CEO Newcrest Mining Limited NEWCREST 1
Gold Mining an Industry in Transition Melbourne Mining Club 7 June 2007 Ian Smith Managing Director and CEO Newcrest Mining Limited NEWCREST 1 Gold Production ('000 t) Cumulative Gold Production Since
More informationPREMIUM TRAFFIC MONITOR SEPTEMBER 2013 KEY POINTS
Premium Pax, Million Economy Pax, Million PREMIUM TRAFFIC MONITOR SEPTEMBER 13 KEY POINTS Growth in premium air travel moderated in September, after a strong rise in August. International premium passenger
More informationTOURISM BUSINESS COUNCIL OF SOUTH AFRICA TRENDS AND INDICATORS REPORT. May 2018
TOURISM BUSINESS COUNCIL OF SOUTH AFRICA TRENDS AND INDICATORS REPORT May 2018 Compiled by: Ms. Tebogo Umanah General Manager: Policy Analysis and Strategic Projects May 2018 Page 1 CONTENTS INTRODUCTION...
More information