Riverside Resources partners with Centerra Gold for gold project

Riverside Resources and Centerra Gold, Inc. signed an option agreement for Tajitos Gold Project in Sonora, Mexico, on Oct. 20. Riverside Resources will act at the project manager, while Centerra Gold will focus on exploration expenditures over the next four years. After incurring $6 million in expenditures, Centerra Gold can acquire a 70 percent interest in the Tajitos Project. Read More »

Fitch downgrades, affirms IDRs of several Brazilian corporations

Fitch Ratings downgraded the foreign currency Issuer Default Ratings of several Brazilian corporations. The Brazilian sovereign foreign and local currency IDRs dropped from BBB to BBB- and the country ceiling from BBB+ to BBB. The current foreign currency rating is Negative. Brazil's rising debt, challenges to fiscal consolidation and economic growth are all factors in the downgrade. Read More »

Xerium puts finishing touches on renovations at 4 plants

Xerium recently completed its renovation projects in plants in Canada, Austria, Brazil, and Japan. The renovation projects took two years to finish and are the latest step in Xerium's strategy to optimize and expand its operations across the globe. Xerium President and CEO Harold Bevis said the improvements were meant to help each of its facilities keep up with demand. Read More »

AEG Power wins contract for new Dalian drill in Brazil

Power electronics provider AEG Power Solutions will power Dalian Shipbuilding Industry Offshore Co., Ltd.'s new deepwater drilling rig in Brazil's Santos basin after being granted a supply contract Oct. 22. The design is a customized modification of AEG's Protect 8 industrial uninterrupted power supply. AEG said the unit is unique because of its adaptability and modular structure. Read More »

Arena Minerals inks joint venture agreement with Teck

Arena Minerals and Teck Mining signed a joint agreement Oct. 23, giving Teck a 60 percent share in one of Arena's Atacama Copper ventures. The agreement covers the Solitario and Paciencia North prospects in Antofagasta, Chile. Teck will have a $19.5 million buy-in over six years in exchange for shares. The deal comes with options for Teck to acquire majority interest in the property. Read More »

Metaswitch names Strika new VP of sales for Latin America

Pablo Strika will be the new Vice President of Sales for Central and Latin America for software designer Metaswitch. Strika has held several positions with a variety of technology and communications companies, including Mavenir Systems, Aricent, and most recently, Alcatel Lucent, where he worked as director of Services Sales. Metaswitch VP Ben Miller congratulated Strika. Read More »

Fitch forecasts fragile boost for Central American economies

The credit ratings agency Fitch Ratings contends that the improvement of the U.S. economy and low oil prices could improve credit ratings throughout Central America. In addition to more potential capital flowing in from a healthier U.S. economy, falling oil prices will benefit the region's oil importers who could take the economic torch from commodities exporters. Read More »

Organizations pledge support for Colombian community centers

The Organization of American States and the Pan American Development Foundation will be developing new community centers in Colombia for youth, they announced on Friday. The agreement was made following an investment of $1.7 million from Colombia. Through a partnership between PADF and Colombia’s Ministry of Foreign Affairs, there have been 22 community centers built. Read More »

PriceSmart opens second warehouse club in Nicaragua

PriceSmart announced Thursday that it has opened a warehouse club in Managua, Nicaragua, the second warehouse club in the nation that will bring the company’s total operational locations to 38. Warehouse clubs operated by PriceSmart are clubs that offer merchandise at special prices to those who have memberships. The company operates locations in Latin America and the Caribbean. Read More »

Latin Trade Group reveals 2015's top Latin American businesswomen

The Latin Trade Group unveiled its annual list of leading businesswomen Thursday from Miami, commending recipients’ executive and financial leadership through ever-changing economic trends and honoring achievement in what is still a primarily male-dominated market. Based on that status, many of the honorees promote and support fellow female entrepreneurs through their work. Read More »

The Children's Place picks El Palacio de Hierro as partner in Mexico

Potentially providing 35 new locations in Mexico, The Children's Place -- North America’s largest pure-play children's specialty apparel retailer -- signed a franchise agreement with El Palacio de Hierro, the company announced Thursday from Secaucus, New Jersey. "We are excited to be partnering with El Palacio de Hierro,” Jane Elfers, The Children's Place president and CEO, said. Read More »

Donaldson to open two Colombian distribution centers

Donaldson Co. Inc. announced Thursday that it will open two distribution centers in Colombia. “The opening of two new distribution centers in Colombia further enhances our ability to meet our customers’ needs for industrial and engine filtration solutions by enabling faster service and allowing for an even higher level of personal attention,” Guillermo Briseño said. Read More »

Mobi724 Global Solutions partners with Movistar

Montreal-based Mobi724 Global Solutions’ subsidiary, Mobi724 SRL, has entered an agreement with Spanish mobile phone operator Movistar, operating across most of Latin America, for Mobi724 to create and manage Movistar’s customer discount and rewards program. Mobi724 is a digital incentive and payment technology provider in the digital incentives, couponing and payment sector. Read More »

Positive silver samples found in Nogalera Zone of La Cigarra project

The sampling site at the La Cigarra Silver Project in the Chihuahua State of Mexico is one of many close to the NI 43-101 silver resource. Northair is sampling rocks in the area as well as mapping regions that could contain gold and silver deposits before beginning to drill. Plans call for sampling an area of 722 feet wide and 1,558 feet long for potential drilling targets. Read More »