Following the announcement in September of Bancolombia’s agreement to acquire a 20 percent stake in Banco Agromercantil de Guatemala, Fitch Ratings reported Friday that any negative impact would be manageable.With this transaction, Bancolombia will own 60 percent of BAM. According to the report, the acquisition of BAM is in line with the bank’s broader strategy for growth. Read More »

GlobeNet, a data network provider in Latin and North America, announced that its services will be expanding to include São Paulo with the company’s Layer 2 and 3 service. This expansion will bring Internet protocol and ethernet services to its customers, allowing for greater connectivity as Brazil is set to host the 2016 Summer Olympic Games. Read More »

Brazil Minerals has hired Gisele Souza as the vice president of administration for the company's operations in Montes Claros. Souza is a dual U.S. and Brazillian citizen who is fluent in English and Portugese. She will be the company's mediator between its sand, mortar and mining operations in the Minas Gerais region and local government, regulators and local businesses. Read More »

Duran Ventures is beginning construction on a new mineral processing plant near Trujillo, Peru, this week. The company decided on a flotation circuit design instead of a carbon in pulp leaching circuit, as the company had previously announced. The company's decision was principally based on being able to work with larger shipments from longer term suppliers. Read More »

Rede and Poynt Co., a subsidiary of Itaú Unibanco, announced Thursday it has entered into a partnership to bring smart payment terminals to Brazilian merchants in 2016. The smart terminal uses mobile technology to allow merchants using their system to manage business through electronic means as a multipurpose device. Read More »

Cyprium Mining Corp. has closed an acquisition agreement for 53 percent of a joint venture that owns exploitation and exploration rights of the Potosi Silver mine in the Santa Eulalia District, Mexico, it announced Thursday. Cyprium Mining Corp. has agreed to pay $2.5 million as a financial commitment consisting of an equity investment of $1.9 million into CYPVAL. Read More »

BCM Resources Corp. announced Friday it has appointed Richard Redfern to serve on its board of directors and as the company’s vice president of exploration. "We are excited to have a geologist with Rick's extensive background and experience on our team. We are confident that Rick will play an integral role in advancing our company's portfolio," BCM President Dale McClanaghan said. Read More »

Panama's second-largest insurer, ASSA, will take over all of American International Group's operations in four Central American countries, the company announced. "ASSA [will] move towards its goal of being the leading insurer in Central America by adding business and professional teams of AIG in Guatemala, Honduras, El Salvador and Panama," ASSA CEO Eduardo Fabrega said. Read More »

With as many as 10 percent of the estimated 600 million people in Latin America and the Caribbean lacking electricity, the executive secretary of the Latin American Energy Organization said this week projects will be started soon. OLADE's goal is to contribute to the region´s integration, sustainable development and energy security by giving advice and fostering cooperation Read More »

Dynacor's Tumipampa project in Peru has yielded multiple high quality gold sites, the company said, and recently provided encouraging sample results from three sites. Manto Dorado, whose roof assayed at an average of over 36 g/t has given new averages of 8.5 g/t from a new sample channel. The 31-meter channel into Manto Nazarenzo sampled at an average of 8.87 g/t of gold. Read More »

Following years of economic improvement in Latin America in which nearly 100 million rose above poverty, the decade of the “hyper presidents” has become the decade of “hyper participation” with greater citizen empowerment and demands, according to recent conclusions of Latinobarometro, a Chile-based think tank that every year surveys 18 countries in the region. Read More »

Southern Silver Exploration Corp. on Thursday announced results from its core drilling program at the Cerro Las Minitas Project in Durango, Mexico. According to the company, four holes drilled in the area showed indications of mineralization that is polymetallic in nature and consists of silver, lead and zinc. The company plans to continue its exploration and drilling. Read More »

Morumbi Resources Inc. has appointed Kurt Menchen as a member of its board of directors, the company announced Thursday. Menchen has 37 years of experience in the management and operation of mining projects. He previously served as the president of Largo Resources Ltd.’s subsidiary, Vanádio de Maracás, in Brazil. He joined Largo in 2006 as a country manager. Read More »

Atento SA on Thursday announced the opening of a new center for customer experience solutions in Mexico City.The center will serve as a place where clients and Atento staff can interact and collaborate on projects associated with the company. It will also serve as an oversight facility for testing sales, customer service and other business-related solutions. Read More »

Cuban scientists working for the Center of Genetic and Biotechnology Engineering in Havana have come up with a medication that has proved effective in treating diabetic foot ulcers (DFU) and preventing amputations. The medication has gained patents in countries across the world, according to information sent to Latin Business Daily by an official from the organization. Read More »

Deutsche Bank also announced that it is move its trading activities in Brazil to regional hubs as part of changes in the company´s strategy. The bank said that the changes were part of a “a series of measures to reduce complexity and costs” over the next five years and that it will also eliminate 9,000 full-time positions plus approximately 6,000 external contractor positions. Read More »

The Association for Corporate Growth will host the 2015 Association for Corporate Growth (ACG) Florida Capital Connection® and M&A Conference to discuss opportunities in Cuba Nov. 10. With diplomatic relations between the United States and Cuba being reestablished in July, embassies have opened in both Havana and Washington, D.C., after being closed for approximately 50 years. Read More »

EIM Capitol appointed J. Mike Stice to its Board of Directors in Mexico City Thursday. Previously CEO of Access Midstream Partners, L.P., Stice also ran Chesapeake Midstream Development, L.P. and spent 27 years with ConocoPhillips. Stice has logged four decades in founding and managing international infrastructure operations, including shale oil & gas, LNG and onshore and offshore. Read More »

Thermal solutions provider Hanon Systems will open a new plant in Monterrey, Mexico, in the second quarter of 2016, strengthening the company's growth strategy supporting global vehicle manufacturers. The new manufacturing facility, Climate Systems Mexicana, S.A. de C.V., will manufacture heating, ventilation and air conditioning units and cooling modules for various new Kia models. Read More »

All systems are a go for PriceSmart to launch construction and operation of its seventh Warehouse Club in Colombia, with completion slated to occur in the Bogota suburb of Chia in fall 2016. The expansion will open the door for the U.S. corporation to further expand its footprint in Latin America. PriceSmart was founded by Sol and Robert Price, co-founders of The Price Club.  Read More »