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☆ Disease, drought and alternative fruits: The orange juice industry is in crisis
▼ + stars: | 2024-06-18 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +3 min

A worker at a citrus fruit farm separates the tangerines for sale on June 6, 2024 in Piedade dos Gerais, in Minas Gerais State, Brazil. Pedro Vilela | Getty Images News | Getty ImagesThe orange juice industry is reeling. The crisis has even prompted some orange juice manufacturers and blenders to explore whether alternative fruits, such as mandarins, apples and pears, can be used to dilute the drink. Bottles of Simply Orange orange juice are displayed for sale in a grocery store on September 28, 2023 in Los Angeles, California. High incidence of citrus greening

Persons: Pedro Vilela, Kees, Mario Tama, What's, greening, —, Greening Organizations: Getty, Vegetable Juice Association, CNBC, Intercontinental Exchange Locations: Piedade dos Gerais, Minas Gerais State, Brazil, Los Angeles , California, New York, Florida

☆ Brazil State Prosecutor Urges Vale, BHP to Settle Over Dam Disaster
▼ + stars: | 2024-01-29 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

By Marta NogueiraRIO DE JANEIRO (Reuters) - Miners Vale, BHP and their joint venture, Samarco, should strike a deal to compensate for a deadly dam disaster in 2015 or risk paying a lot more in court, the Minas Gerais state prosecutor general told Reuters. Last week a federal judge ruled that the firms must pay up to 47.6 billion reais ($9.67 billion) in damages, in a decision still subject to appeal. "The total will be very high," he said, adding that the firms should strike a deal when talks resume in February, to avoid more costly litigation. Soares Junior is one of the many officials that would have to sign off on a deal that could settle lawsuits on state and federal levels involving the disaster. ($1 = 4.9437 reais)(Reporting by Marta Nogueira, writing by Fabio Teixeira; editing by Sandra Maler)

Persons: Marta Nogueira, General Jarbas Soares Junior, Soares Junior, Samarco, Vale, Fabio Teixeira, Sandra Maler Organizations: Marta Nogueira RIO DE, Reuters, Vale, BHP Locations: Marta Nogueira RIO DE JANEIRO, Minas Gerais, Mariana

☆ Banco do Brasil's quarterly profit edges up on interest income
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

Banco do Brasil's adjusted net income reached 8.79 billion reais ($1.79 billion) during the period, while analysts polled by Refinitiv expected 8.98 billion reais. Loan-loss provisions were at 7.52 billion reais in the period, up 4.7% from the previous quarter and 66.4% higher than a year earlier. Part of that growth was caused by the reclassification of debt from struggling retailer Americanas (AMER3.SA), Banco do Brasil said. The bank's 90-day loan default ratio grew 0.8 percentage points compared to the previous quarter to 2.81%, still well below the delinquency level of its listed peers. The company's interest income rose 21.1% from a year earlier to 23.68 billion reais, while analysts expected 23.28 billion reais.

Persons: Leonardo Benassato, Peter Frontini, Anthony Esposito, Sandra Maler Organizations: Banco, REUTERS, SAO PAULO, Brasil SA, Americanas, Brasil, Thomson Locations: Brasil, Uberaba, Minas Gerais, Brazil

Brazil's Federal Police said in a statement they arrested two people, who they did not name, on terrorism charges in Sao Paulo. They also carried out search and seizure warrants in Sao Paulo, Brasilia and Minas Gerais states. Mossad thanked Brazilian security services for their role in helping to thwart the attack. Mossad said the "terrorist cell ... was operated by Hezbollah in order to carry out an attack on Israeli and Jewish targets in Brazil." Since the Oct. 7 attack, Hezbollah has been engaging Israeli forces along the border, in the deadliest escalation since it fought a war with Israel in 2006.

Persons: Benjamin Netanyahu's, Ricardo Berkiensztat, Jair Bolsonaro, Rodrigo Viga Gaier, Gabriel Stargardter, Steven Grattan, Lisandra, James Mackenzie, Lisa Shumaker Organizations: RIO DE, Hezbollah, Brazil's Federal Police, Islamic State, U.S . FBI, U.S . Treasury, Triple, Federal Police, Reuters, Jewish Federation of, State of, Iran's, Guards, Thomson Locations: RIO DE JANEIRO, Brazil, Iran, Sao Paulo, Brasilia, Minas Gerais, Lebanon, al Qaeda, Argentina, Paraguay, Israel, Gaza, State, State of Sao Paulo, Britain, Canada, Germany, Honduras, United States, U.S, Gulf, Jerusalem

Mining companies in the West are facing two overarching challenges in trying to produce enough metals to enable the energy transition, and at the same time build alternative supply chains to lessen their dependence on China. There is little doubt that Australia is a country well-placed to play a major role in supplying many of the metals vital to the energy transition. The previous models for developing mines appear no longer effective, and even if some projects do progress, they are nowhere near enough to provide enough material for the energy transition. Michael Willoughby, global head of metals, mining and transition materials at HSBC, told a forum at IMARC that there is capital available for mining, but it's located in developing countries such as China, Indonesia and Saudi Arabia. What's not being talked about is how all the new mines, mineral processing and renewable energy equipment is going to be funded.

Persons: Washington Alves, Michael Willoughby, Willoughby, Miral Organizations: Sigma Lithium Corp, REUTERS, Rights, Reuters . Mining, Mining, Resources Conference, HSBC, Reuters, Thomson Locations: Itinga, Minas Gerais, Brazil, China, Sydney, Asia, Australia, CHINA, Indonesia, Saudi Arabia, New South Wales, U.S

☆ Brazilian Lawmakers Advance Country’s Regulated Carbon Market
▼ + stars: | 2023-10-26 | by ( Paulo Trevisani | Luciana Magalhaes | ) www.wsj.com time to read: +5 min

A Brazilian carbon market would be an important addition to an expanding network of cap-and-trade systems around the world. Brazilian agricultural producers and miners hope the carbon market will help overcome headwinds in developed markets where consumers often associate them with deforestation. Exporters of manufactured goods using Brazilian grains, meat, iron-ore and other raw materials could also get a boost if carbon regulation improves the country’s environmental credentials, according to Brazilian business executives. Sen. Tereza Cristina —a former agriculture and livestock minister—defended the decision to exclude the sector from carbon regulation. “The farm sector isn’t ready for the regulated carbon market,” she said.

Persons: Eraldo Peres, Luiz Inácio Lula da Silva, Flávio Roscoe, ”, Marcio Astrini, Tereza Cristina —, —, Fábio Passos, Passos, Paulo Trevisani, Luciana Magalhaes Organizations: Associated Press, United, Observatory, Sen, Business, Bayer’s, luciana.magalhaes@wsj.com Locations: Brazil, Associated Press Brazil, Nations, United Nations, Pennsylvania, Minas Gerais, Europe, Latin America, paulo.trevisani@wsj.com

☆ Exclusive: Sigma Lithium COO steps down in new leadership shakeup, shares dive
▼ + stars: | 2023-10-05 | by ( Fabio Teixeira | ) www.reuters.com time to read: +1 min

View shows Sigma Lithium Corp production at the Grota do Cirilo mine in Itinga, in Minas Gerais state, Brazil April 18, 2023. Sigma shares were down about 10% around midday in New York. Last week, Reuters reported that divorce proceedings between Sigma Chief Executive Ana Cabral-Gardner and Calvyn Gardner, her husband and former co-CEO, had triggered several lawsuits, including a dispute over some of the mineral rights where Sigma plans to build mining pits. At the time, Sigma told Reuters the dispute would not affect its expansion plans, as it said it can develop the area via a "waste sharing agreement." Gardner left his co-CEO role in January, and Sigma announced a new chief financial officer in August.

Persons: Washington Alves, Brian Talbot, Talbot, Ana Cabral, Gardner, Calvyn Gardner, Fabio Teixeira, Gabriel Stargardter, Brad Haynes, Susan Fenton, Rosalba O'Brien Organizations: Sigma Lithium Corp, REUTERS, DE, Sigma, Reuters, Sigma Chief, Thomson Locations: Itinga, Minas Gerais, Brazil, DE JANEIRO, Vancouver, New York

☆ Exclusive: Sigma Lithium COO steps down in latest leadership shakeup
▼ + stars: | 2023-10-05 | by ( Fabio Teixeira | ) www.reuters.com time to read: +1 min

View shows Sigma Lithium Corp production at the Grota do Cirilo mine in Itinga, in Minas Gerais state, Brazil April 18, 2023. REUTERS/Washington Alves/File Photo Acquire Licensing RightsRIO DE JANEIRO, Oct 5 (Reuters) - Sigma Lithium (SGML.V) Chief Operating Officer Brian Talbot left the company at the end of last month, he told Reuters on Thursday, in the latest management shakeup at the Vancouver-based miner. Last week, Reuters reported that divorce proceedings between current Sigma Chief Executive Ana Cabral-Gardner and Calvyn Gardner, her husband and former co-CEO, had triggered several lawsuits, including a dispute over some of the mineral rights where Sigma plans to build mining pits. At the time, Sigma told Reuters the dispute would not affect its expansion plans, as it said it can develop the area via a "waste sharing agreement." Gardner left his co-CEO role in January, and Sigma announced a new chief financial officer in August.

Persons: Washington Alves, Brian Talbot, Talbot, Ana Cabral, Gardner, Calvyn Gardner, Fabio Teixeira, Gabriel Stargardter, Brad Haynes, Susan Fenton Organizations: Sigma Lithium Corp, REUTERS, DE, Sigma, Reuters, Thomson Locations: Itinga, Minas Gerais, Brazil, DE JANEIRO, Vancouver

☆ Exclusive: Brazil mineral rights dispute casts shadow on Sigma Lithium expansion
▼ + stars: | 2023-09-28 | by ( Fabio Teixeira | ) www.reuters.com time to read: +6 min

View shows Sigma Lithium Corp SGML.V production at the Grota do Cirilo mine in Itinga, in Minas Gerais state, Brazil April 18, 2023. That transaction, Gardner's lawyers argued, would grant Sigma mineral rights to valuable lithium deposits and hurt RI-X's ability to develop its own mining project. At the time of the transfer, Gardner owned 49% of RI-X and Cabral-Gardner held 51%, documents show. Sigma shares, which had been up 4% in afternoon trading on Thursday, erased gains to close more than 2% lower after Reuters reported on the court injunction. Sigma declined to comment on the New York lawsuit, and said "the divorce proceedings are a private, personal matter and have no impact on how Sigma Lithium conducts business."

Persons: Washington Alves, Ana Cabral, Gardner, Calvyn Gardner, Cabral, Sigma, Fabio Teixeira, Ernest Scheyder, Gabriel Stargardter, Brad Haynes, Rosalba O'Brien Organizations: Sigma Lithium Corp, REUTERS, DE, Sigma, Reuters, Deloitte, Brazilian Mining Association, New, Thomson Locations: Itinga, Minas Gerais, Brazil, DE JANEIRO, Vancouver, Sao Paulo, New York

☆ Sigma Lithium to explore alternatives after proposals for miner, Brazil unit
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

Workers of Sigma Lithium Corp are seen at the Grota do Cirilo mine in Itinga, in Minas Gerais state, Brazil April 18, 2023. REUTERS/Washington Alves/File Photo Acquire Licensing RightsSept 13 (Reuters) - Miner Sigma Lithium (SGML.V), said on Wednesday it is evaluating strategic alternatives for the whole company, including its Brazilian unit, sending the company's U.S.-listed shares up 14.8% in premarket trading. The company said it has received multiple proposals for its Grota do Cirilo project in Brazil, Sigma Brazil and parent company Sigma Lithium. The proposals were from "global industry leaders in the energy, auto, batteries and lithium refining industries", according to Sigma Lithium. Sigma Lithium CEO Ana Cabral-Gardner said in July that Bank of America was coordinating talks with parties interested in acquiring it.

Persons: Washington Alves, Calvyn Gardner, Ana Cabral, Gardner, Sourasis Bose, Shounak Dasgupta Organizations: Sigma Lithium Corp, REUTERS, Sigma, Sigma Lithium, of America, LG Energy, Thomson Locations: Itinga, Minas Gerais, Brazil, U.S, Sigma Brazil, Vancouver , British Columbia, Bengaluru

☆ A worldwide lithium shortage could come as soon as 2025
▼ + stars: | 2023-08-29 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

Bloomberg | Bloomberg | Getty ImagesThe world could face a shortage for lithium as demand for the metal ramps up, with some analysts forecasting that it could come as soon as 2025. BMI, a Fitch Solutions research unit, was among those that predict a lithium supply deficit by 2025. In a recently published report, BMI largely attributed the deficit to China's lithium demand exceeding that of its supply. "We expect an average of 20.4% year-on-year annual growth for China's lithium demand for EVs alone over 2023-2032," the report stated. While that could point to a global lithium surplus next year, shortages could start to plague supply chains in 2028.

Persons: Susan Zou, Corinne Blanchard, Deutsche, Blanchard, Zou Organizations: Sigma, Bloomberg, Getty, BMI, Fitch Solutions, Economic, Rystad Energy, P, Commodity, EV Locations: Itinga, Minas Gerais, Brazil, China, skyrocket, transportations, U.S, Europe

☆ How a maverick Brazil lawmaker helped Lula beat Bolsonaro's propaganda machine
▼ + stars: | 2022-11-10 | by ( Gabriel Stargardter | ) www.reuters.com time to read: +6 min

RIO DE JANEIRO, Nov 10 (Reuters) - To bring down far-right Brazilian President Jair Bolsonaro, Andre Janones had to fight fire with fire. Janones also raised eyebrows among some in Lula's Workers Party (PT) for his vulgar attacks on Bolsonaro and his allies. One senior Lula aide defended the role of Janones, saying he could tread where the official campaign did not dare. He was the most prominent Lula ally to drop the gloves in a bruising run-off race that took even Bolsonaro's campaign by surprise. Despite his hell-raising, Janones has not lost sight of digital media as a public service.

☆ Bolsonaro's gun laws arm Brazil's brazen bank thieves
▼ + stars: | 2022-09-21 | by ( Gabriel Stargardter | ) www.reuters.com time to read: +10 min

In July, Reuters reported that Brazil's Federal Police disapproved of Bolsonaro's gun policies, arguing they would put more weapons in the hands of criminals. Of all the weapons now available to Brazil's gun fans, the T4 has emerged as the weapon of choice for its gangsters. A common tactic used by gangs - as seen in the case of Huijsman's T4 - is to steal weapons from CAC permit-holders' homes. On Oct. 31, 2021, Minas Gerais military police and Brazil's Federal Highway Police carried out two raids against alleged bank robbers hiding out near Varginha, killing 26 of them. Marques, the gun expert, said Huijsmans' rifle wouldn't be the last legally acquired firearm to turn up at a crime scene.

☆ With fresh firepower, brutal bank thieves blitz small-town Brazil
▼ + stars: | 2022-09-21 | by ( Gabriel Stargardter | ) www.reuters.com time to read: +6 min

Using assault rifles and explosives to turn rural towns into war zones, the specialized crews have netted an astonishing $120 million since emerging in 2015, think tank Alpha Bravo Brasil says. In a related article, Reuters tracked how laws pushed by President Jair Bolsonaro make it easier for gangsters to obtain assault rifles like those used in Uberaba. WAR ZONEAbout a week before the raid, the robbers rented an apartment near the bank to surveil their target. The thieves told them to run into the bank - no funny business or they would be shot - where they cowered as their captors worked to blow up the safe. Outside, 10 of the robbers stood with assault rifles in each hand.

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