Spanish engineering and renewables group Abengoa SA will build transmission lines that will transport electricity from the future 260-MW Punta Lomitas wind farm in Peru. The group said that it has been selected for the job by power generation company Engie Energia Peru. Abengoa’s services will include detailed engineering and construction of the 63-kilometre (39.1 miles) long 220-kV double ternary transmission line, and duties such as procurement, civil works, electromechanical assembly and commissioning of different sections.
Peru President Francisco Sagasti announced a fresh deal with Pfizer Inc and BioNTech SE to purchase an additional 12 million doses of their vaccine against COVID-19 as a fierce second wave of the virus ravages the country. The president said on social media the additional shots would be delivered by year’s end. Peru’s vaccination drive has been slow to get started and fraught with allegations of corruption, with just under 4% of the population inoculated with at least one dose to date, according to a Reuters tabulation.
Steelmaker Aceros Arequipa saw its net profit in Q1 surge 402.4, year-on-year, to S/196 million ($51.1 mn). The company said net revenues grew 95.2% to S/1.08 billion ($283.1 million). Gross margin riste to 30.4%, from 17.8% in Q1 2020.
Argentinean online marketplace Mercado Libre will be working with the Ministry of Production in order to digitalise 5,000 micro and small companies. The aim of this alliance is the move from traditional shopping to online shopping and the enablement of digital payments.
Low-cost airline JetSMART, controlled by US investment fund Indigo Partners, formally started the certification process to operate domestic flights in Peru. The airline has been operating domestic flights in Chile since 2017 and in Argentina since 2018 and already operates international routes to Peru with flights connecting Lima, Arequipa and Trujillo with Santiago de Chile.
The payment of royalties by companies operating in the hydrocarbon sector in Peru amounted to $228 million at the end of 2021's first quarter, 66.8% more than the first quarter of 2020, reported the National Society of Mining, Oil, and Energy (SNMPE). The guild said that the evolution of royalties has been supported by an increase in international hydrocarbon prices. It added that the amount of royalties for oil production is still below pre-pandemic levels.
Camposol Holding filed to raise up to $450 million in an initial public offering (IPO) with the SEC. The company plans to dual list on the Lima Stock Exchange. Camposol is a global provider of fresh produce with farming facilities in Peru, Colombia, Chile, and Uruguay. The location of Camposol's fields allow them to produce year-round, shipping to international markets when supply is low. Among its core products are blueberries, mangoes, avocados, tangerines, and grapes.
Fitch Ratings has affirmed Pacifico Compañia de Seguros y Reaseguros S.A.'s Insurer Financial Strength (IFS) at 'BBB+'. The outlook is stable. The rating action considered the company's strong business profile, its favorable financial performance, and capitalization and leverage ratios aligned to Fitch guidelines for the current rating.
Fidelity Minerals Corp has reported positive sampling results from its wholly-owned Porphyritic copper project in Peru, despite a limited amount of work undertaken due to the coronavirus pandemic. Eleven rock samples were taken and highlight results showed anomalous copper concentrations reaching 1.94% of the red metal over 0.30 metres (m) in one canal sample and 1.56% copper over 0.60 m in another. The first sample was also characterized by an anomalous gold concentration of 0.82 grams per ton (g/t) gold, the company noted.
Hochschild reported that it had delivered attributable production of 85,738 gold equivalent ounces, consisting of 52,843 ounces of gold and 2.8 million ounces of silver, during the first quarter of 2021. Its flagship Inmaculada operation in Peru experienced a strong start to the year with higher grades than expected.