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The Cobre Panama mine represents about 1.5% of world copper production. Photo: stringer/ReutersPanama’s top court ruled Tuesday against a contract between the government and Canadian miner First Quantum Minerals , placing in jeopardy one of the world’s largest copper mines. The court unanimously ruled that a law passed in October by the National Assembly, which recently approved a revised contract between the mining company and the Panamanian government, is unconstitutional. The law provided a legal framework for the contract allowing the company to operate the large mine.
Organizations: Reuters, Minerals, National Assembly Locations: Panama, Panamanian
Photo: nick oxford/ReutersU.S. crude oil and gasoline inventories increased more than expected last week while refinery capacity use rose from a week before, according to data released Wednesday by the Energy Information Administration. Commercial crude-oil stockpiles excluding the Strategic Petroleum Reserve, rose by 8.7 million barrels to 448.1 million barrels in the week ended Nov. 17, and were 1% below the five-year average for the time of year, the EIA said.
Organizations: oxford, Reuters, Energy Information Administration, Strategic Petroleum Reserve
Photo: jessica lutz/ReutersU.S. oil inventories increased by 3.6 million barrels in the week ended Nov. 10, according to data released by the Energy Information Administration, above estimates of analysts in a survey by the Wall Street Journal. Commercial crude-oil stockpiles stood at 439.4 million barrels at the end of last week, and were about 2% below the five-year average for this time of year, the EIA said Wednesday. Analysts surveyed by The Wall Street Journal had predicted crude stockpiles would rise by 800,000 barrels.
Persons: jessica lutz Organizations: Reuters, Energy Information Administration, Wall Street, Wall Street Journal Locations: Reuters U.S
Mexico Raises Hurricane Otis Death Toll to 43
  + stars: | 2023-10-29 | by ( Santiago Pérez | Anthony Harrup | ) www.wsj.com   time to read: 1 min
An aerial view of a yacht club hit by Hurricane Otis in Acapulco, Mexico. Photo: David Guzman/ShutterstockMEXICO CITY—At least 43 people were killed and another 36 are reported missing after Hurricane Otis rammed into Mexico’s Pacific coast, bringing devastation to the popular beach resort of Acapulco, officials said. The death toll is up from the 27 initially reported. Security Minister Rosa Icela Rodríguez said Saturday that the likely cause of death was drowning. Rodríguez said that their identities have yet to be determined.
Persons: Hurricane, David Guzman, Hurricane Otis, Rosa Icela Rodríguez, Rodríguez Organizations: MEXICO CITY, Hurricane, Security Locations: Acapulco, Mexico, MEXICO
Mexico Raises Hurricane Otis Death Toll to 39
  + stars: | 2023-10-29 | by ( Santiago Pérez | Anthony Harrup | ) www.wsj.com   time to read: 1 min
An aerial view of a yacht club hit by Hurricane Otis in Acapulco, Mexico. Photo: David Guzman/ShutterstockMEXICO CITY—At least 39 people were killed and another 10 are reported missing after Hurricane Otis rammed into Mexico’s Pacific coast, bringing devastation to the popular beach resort of Acapulco, officials said on Saturday. Security Minister Rosa Icela Rodríguez said Saturday that 29 men and 10 women have been confirmed dead. The likely cause of death was drowning. Rodríguez said that their identities have yet to be determined.
Persons: Hurricane, David Guzman, Hurricane Otis, Rosa Icela Rodríguez, Rodríguez Organizations: MEXICO CITY, Hurricane, . Security Locations: Acapulco, Mexico, MEXICO
MEXICO CITY—Hurricane Otis, the most powerful hurricane to hit Mexico’s Pacific coast, left at least 27 people dead and four missing in the popular beach resort of Acapulco amid widespread flooding and devastation, officials said Thursday. Mexican President Andrés Manuel López Obrador said his government deployed hundreds of soldiers, medical teams and rescue teams as authorities began to assess the extensive damage inflicted by Otis in the Pacific port. Three of those missing are navy members, he said.
Persons: Andrés Manuel López Obrador, Otis Organizations: MEXICO CITY, Hurricane Locations: MEXICO, Acapulco, Pacific
MEXICO CITY—Hurricane Otis slammed into Mexico’s Pacific port and popular beach resort of Acapulco as a powerful Category 5 storm, leaving in its wake widespread flooding and devastation. The most powerful hurricane to hit Mexico’s Pacific coast since 2015 ripped into buildings, tore off roofs and disrupted communications. Much of Acapulco was without electricity, telephone and internet service Wednesday.
Persons: Hurricane Otis Organizations: MEXICO CITY, Hurricane, Mexico’s Locations: MEXICO, Acapulco
Hurricane Otis hit near the beach-resort destination of Acapulco that is popular with tourists. It was later downgraded to a Category 4 storm. Authorities warned of a “potentially catastrophic storm surge.” Photo: Javier Verdin/ReutersMEXICO CITY—Hurricane Otis rammed into Mexico’s Pacific port and popular beach resort of Acapulco as a powerful Category 5 storm, ripping into buildings, causing heavy flooding, disrupting communications and knocking out power early on Wednesday. The hurricane, which intensified from tropical-storm strength to a major hurricane within just 12 hours Tuesday, made landfall in the early hours of Wednesday with maximum sustained winds of around 165 miles an hour, the National Hurricane Center said.
Persons: Otis, Javier Verdin, Hurricane Otis Organizations: Reuters, Reuters MEXICO CITY, Hurricane, National Hurricane Center Locations: Acapulco, Reuters MEXICO
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/world/americas/mexicos-beach-resort-acapulco-braces-for-hurricane-otis-aff19ffa
Persons: Dow Jones, aff19ffa Organizations: otis Locations: acapulco
Mexican Railway Suspends Services Due to Migrant Surge
  + stars: | 2023-09-20 | by ( Anthony Harrup | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/world/americas/mexican-railway-suspends-services-due-to-migrant-surge-10b053d6
Persons: Dow Jones Locations: americas
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/world/americas/mexican-railway-suspends-services-due-to-migrant-surge-10b053d6
Persons: Dow Jones Locations: americas
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/world/americas/mexico-opposition-coalition-poised-to-name-xochitl-galvez-as-presidential-candidate-2c7e5189
Persons: Dow Jones Locations: americas, mexico, galvez
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/world/americas/mexico-opposition-coalition-poised-to-name-xochitl-galvez-as-presidential-candidate-2c7e5189
Persons: Dow Jones Locations: americas, mexico, galvez
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/us-news/climate-environment/tropical-storm-hilary-makes-landfall-in-mexico-threatening-southern-california-30d14eae
Persons: Dow Jones, hilary Locations: mexico, california
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/us-news/climate-environment/tropical-storm-hilary-makes-landfall-in-mexico-threatening-southern-california-30d14eae
Persons: Dow Jones, hilary Locations: mexico, california
Attorney General Merrick Garland said Mexico’s Sinaloa cartel is largely responsible for the manufacture of fentanyl and its distribution in the U.S. The U.S. indicted several members of Mexico’s powerful Sinaloa cartel, including four sons of imprisoned drug lord Joaquin “El Chapo” Guzmán, for leading what U.S. officials say is the world’s most prolific fentanyl-trafficking operation. The indictments unsealed Friday came a day after Mexican cabinet members met in Washington with Attorney General Merrick Garland and other senior U.S. officials to coordinate cross-border actions against the smuggling of fentanyl, a synthetic opioid that has led to tens of thousands of overdose deaths in the U.S.
Iberdrola said it would continue to develop renewable energy in Mexico with the backing of the Mexican government. MEXICO CITY—The Mexican government reached an agreement to buy 13 power-generation plants from Spanish electricity company Iberdrola SA for around $6 billion, the latest bid by Mexican President Andrés Manuel López Obrador to recover state share of the industry, the government and the company said. Mr. López Obrador, whose government has been in disputes with Iberdrola in recent years, met in Mexico City on Tuesday with Iberdrola executives.
MEXICO CITY—Mexican federal prosecutors will investigate possible negligence in the response to a fire at a migrant detention center in the border city of Ciudad Juárez that left at least 38 migrants dead as actions of staff at the facility came under scrutiny, President Andrés Manuel López Obrador said Wednesday. A surveillance video shows migrants trapped in locked cells as the fire erupted on Monday night, while two guards appear to make no attempt to release the detained men as smoke filled the detention area. The authenticity of the video was confirmed by Interior Minister Adán Augusto López.
A scene where gunmen kidnapped four U.S. citizens who crossed into Mexico from Texas. The governor of Mexico’s Tamaulipas state said Tuesday that two of the four U.S. citizens kidnapped in the border city of Matamoros have been found dead and two others alive, one of them injured. Ambulances and security personnel were on their way to the site, Gov. Américo Villarreal said in a telephone call to President Andrés Manuel López Obrador .
Matamoros, pictured in 2019, has recently become a battleground between two heavily armed gangs. Four U.S. citizens were kidnapped in northern Mexico after gunmen opened fire on their vehicle shortly after they crossed the border into Matamoros from Brownsville, Texas, U.S. officials said late Sunday. The Federal Bureau of Investigation’s San Antonio division said it was seeking help in locating the four individuals, who were abducted on Friday. The FBI is offering a $50,000 reward for information leading to their return or the capture of those responsible.
Matamoros has recently become a battleground between two heavily armed gangs. Four U.S. citizens were kidnapped in northern Mexico after gunmen opened fire on their vehicle shortly after they crossed the border into Matamoros from Brownsville, Texas, U.S. officials said late Sunday. The Federal Bureau of Investigation’s San Antonio division said it was seeking help in locating the four individuals, who were abducted on Friday. The FBI is offering a $50,000 reward for information leading to their return or the capture of those responsible.
Tesla to Build a Manufacturing Plant in Mexico
  + stars: | 2023-02-28 | by ( Anthony Harrup | ) www.wsj.com   time to read: 1 min
Electric car maker Tesla Inc. plans to build a manufacturing plant in the northern Mexican industrial hub of Monterrey, President Andrés Manuel López Obrador said Tuesday. Mr. López Obrador, who spoke several times in recent days with Tesla Chief Executive Elon Musk, added at his morning press conference that details of the investment will be made known Wednesday.
Executives cited the labor force as a factor in their decision to open or expand manufacturing plants in Mexico. MEXICO CITY—Companies from around the world are moving production and equipment to Mexico as they seek a manufacturing hub closer to the U.S., part of a broader shift in global trade. Some companies are relocating from Asia, while others are investing millions of dollars to raise output of goods that are exported tariff-free to the U.S.
Canadian Trade Minister Mary Ng says the ruling reaffirms ‘our understanding of the negotiated outcome on the rules of origin for automotive products.’A trade panel ruled in favor of Mexico and Canada in a dispute with the U.S. over rules to calculate regional content required for tariff-free imports of vehicles under the U.S., Mexico, Canada Agreement, officials said Wednesday. Mexico and Canada had challenged the U.S. method for calculating the regional content required under the USMCA trade pact for cars to have tariff-free access to the U.S., and requested the panel early last year after failing to reach agreement during consultations.
MEXICO CITY—President Biden focused on immigration, security and supply-chain problems when he met with his Mexican counterpart on Monday for the North American Leaders’ Summit—issues on which the two countries have had some differing views. He and Mexican President Andrés Manuel López Obrador were joined by Canadian Prime Minister Justin Trudeau for dinner Monday night, before all three meet on Tuesday. The countries have been working through trade disputes over implementation of the U.S.-Mexico-Canada Agreement.
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