Friday, May 07, 2004

Trouble Reading Peruvia? Press 'F11' key near top of your key board twice.

2 Ex-Ministers Charged: The Associated Press reports on the conviction of two of AFujimori's cabinet members, former Justice Minister Alberto Bustamante and former Interior Minister Fernando Dianderas, "for permitting the illegal search of the home of former president Alberto Fujimori's ex-spy chief." The court declared that "Police were looking for secretly taped videos made by Montesinos believed to tie Fujimori to crimes committed during his 1990-2000 regime. Officials believe the tapes were found and that they remain in Fujimori's possession." The piece notes that this would have also been AFujimori's first conviction but that Peruvian law "prohibits judgments in absentia" but he "could be convicted and sentenced immediately if he returns to Peru."

Rospigliosi Censured, cont: The New York Times finally lets its readers know about the lynching of Ilave's mayor with a two sentence Reuters piece that ties in Rospigliosi's resignation. The NYTimes bit says it was a "15,000-strong mob [who] kidnapped Cirilo Robles." The Washington Post informed their readers yesterday. The event happenned eleven days ago. Reuters offers another photograph of the ex-minister at his final ministerial press conference. To see the original reporting, see 'Mayor Lynched' in April 27's Peruvia.

CPI Polling, cont: Canada's Centre for Public Opinion and Democracy reviews the CPI poll by stating that "exiled former head of state Alberto Fujimori is the top presidential hopeful in Peru." NOTE: The poll is Lima-exclusive and thus, this poll shows AFF is the top candidate in Lima. The Numbers: Alberto Fujimori 20.2%; Alan García 17.9%; Valentín Paniagua 14.4%; Lourdes Flores Nano 13.4%.

De Soto Prized, cont: The Associated Press highlights the speech Hernando de Soto gave at the award ceremony of the Cato Institute's Milton Friedman Prize for Advancing Liberty. Said HdeSoto: "If Westerners don't become more engaged in the struggle of small-scale entrepreneurs in the developing world - from rickshaw drivers to street food vendors - terrorist groups, military dictators and corrupt demagogues will fill the void." Although de Soto "didn't directly address the U.S. invasion of Iraq and the war on terror, he emphasized that General Douglas MacArthur transformed Japan from a closed society into one of the most stable democracies and world's second largest consumer society. By breaking feudal system down, you transformed Japan. When Americans invaded Vietnam, they forgot about it, and they forgot about it in later countries. You Americans showed us the way, but you don't seem to repeat your successes very often. It means your foreign policy sometimes goes wrong." The version of this AP story that Dow Jones pushes excludes this criticism on the USA.

Pisco Rights: The Belfast Telegraph has the ignominy of running a story on Pisco and Pisco sours with thte headline: The Cocktail Cabinet: The Chilean way to take up flying. "When I heard recently that Pisco would be reaching the UK market soon, lots of pleasant memories came flooding back. Pisco is a grape spirit, aged in oak or clay containers (technically a brandy), found in Peru and Chile. Its origins are hotly disputed with both countries claiming ownership. Regardless of who is right, Chileans were the ones to bag the trademark in the earlier part of the 20th century, and the Pisco Sour has since become a national aperitif."

Inter-American Naval Conference: The USA government Navy Newstand includes Peru's participation at the 21st Inter-American Naval Conference, earlier this week. "Since the IANC's first conference in 1960, it has encouraged permanent professional contact among the navies of the participating nations in order to promote theater security cooperation and foster hemispheric solidarity." Keynote speaker, Secretary of the Navy Gordon England declared: "We are all countries of indigenous cultures and immigrants, rich in ethnic and racial diversity. Despite our individuality, we have much in common, and we will continue to strengthen the bonds that link us as we build upon our common interest and goals."

Sporting News:
- Reuters reports (on the last line) that "former French Open winner Albert Costa defeated Luis Horna "with an untroubled 6-2 6-3 victory" at the Telecom Italia Masters. Sportsline says that Luis Horna was "spanked."
- Reuters provides full details of the Apertura results including Sporting Cristal's win over Sport Boys 2-0.

GOLD CONFERENCE: Reuters continues their coverage of the gold conference and said that gold analysts "disagreed strongly over where the price of gold was headed, with one expert predicting a sharp drop to $350-$360 per ounce while others said it was on its way up to the $450 per ounce range." Cited: Leonard Harris (Veneroso Associates), Alberto Arias (Goldman Sachs) and Bruce Alway (Gold Fields Minerals Services). "Gold peaked in January at 15-year highs of $430.50 an ounce but has since retreated. On Thursday June gold on the COMEX metals division of the New York Mercantile Exchange closed at $388.40 an ounce."
- Reuters reports that "Peru aims to more than double manufacturing and exports of gold jewelry to $200 million a year by 2010, as part of a wider plan to boost exports," according to Giampiero Scotto, president of the jewelry committee at ADEX, the exporters association in Peru. Although Peru is the sixth largest producer of gold in the world, "only 4 percent of Peru's gold was transformed to jewelry last year in Peru." Also cited: Juan Carlos Mathews, director of international trade development for the Trade Ministry. A slightly different Reuters piece directs the point to a more global audience. "Flagging world demand for gold jewelry -- due in part to high prices for the precious metal -- has alarmed the world's top two gold miners, who on Friday called for a global marketing blitz to promote gold."
- Reuters reports that Monterrico Metals "plans to raise $400 million next year in debt and equity to put its large Rio Blanco copper project in Peru into operation," according to their Chief Operating OfficerRay Angus.
- Reuters reports that the Lima Stock Exchange "has widened entry requirements for junior miners interested in listing on its new venture capital exchange, and hopes to list between one and three companies this year," according to Federico Oviedo Vidal, general manager of the Lima Stock Exchange.
- Reuters reports that zinc and lead miner Atacocha "will issue $50 million in bonds to fund upgrades and expansion," according to Carlos Montori, a Board member of the company.
- Reuters reports that "Congress will discuss two proposals to slap royalties on mining companies on May 12," according to Congressman Javier Diez Canseco, who favors a mining royalty. The two sides are presented: "Supporters of a royalty argue that Peru should benefit more from rich mining companies that exploit a finite resource, especially at a time when international metal prices are high. Peruvian mining companies are fiercely against any kind of royalty because they say it will make ore less economically viable to mine and will send investors elsewhere." The unnamed report of the story states clearly: Mining is the motor behind Peru's $60 billion economy and brings in half of the country's foreign earnings."
- Reuters: "Barrick Gold Corp expects to spend $65 million on exploration this year and was 'always open' to acquisition and exploration opportunities, Chief Operating Officer John Carrington."
- Reuters reports that Gold Bullion Securities "saw renewed demand for its new investment instrument in April, after it relaunched a slightly revamped version of its shares, each of which represents 1/10 of an ounce of gold."
- Esperanza Silver put out a press release to announce that "it has acquired Estrella, a new exploration project in Peru. It consists of 400 hectares covering known outcrops of silver and copper bearing sandstones. Esperanza is also in the process of acquiring, through staking, an additional land which surround the new concessions."
- Reuters reports that the World Bank's International Finance Corporation "will sell a 1.25 percent stake in Yanacocha," according to Wayne Gurdy, Newmont Mining's CEO. Newmont Mining Co. owns a controlling stake in Yanacocha. The IFC had suggested in March they would be selling their 5% stake in the mine. Said Gurdy: "It's an opportunity for Peruvian institutions to invest in the project and we think that's good."

Other Econ News: BNAmericas reports that Telefónica del Peru is "satisfied with last week's public hearing over its request for a contract extension," acroding to telecoms manager José Juan Haro.


Thursday, May 06, 2004

Rospigliosi Censured: The Agence France Press, the Associated Press, the BBC, Bloomberg, Dow Jones, Reuters and the Voice of America all report that Interior Minister Fernando Rospigliosi has been "effectively fired" by Congress "when it censured him over accusations he mishandled a riot in southern Peru last month that led to the killing of a mayor." The vote was 62 votes for censure; 39 against; six abstensions. The measure needed 61 to pass. Bloomberg quotes Nelson Manrique (Catholic University), Prime Minister Carlos Ferrero, and the new Apoyo poll numbers. The BBC also mentions the poll. (See 'CPI Polling' in yesterday's Peruvia.) Reuters quotes Congressman Javier Diez Canseco and Paulina Arpasi, a native Aymara member of Toledo's party, both of whom voted for censure. In addition to Arpasi, four other members of AToledo's Peru Posible party voted for censure. The AFP notes that Ilave Mayor Roble's widow, Marina Cutipa, has accused the new mayor Arturo Sandoval "of having ordered the lynching." The AP quotes Congressman Rafael Rey Rey declaring, "The problem isn't Fernando Rospigliosi, the problem is Alejandro Toledo.' Dow Jones quotes Alan Garcia and compares Rospigliosi's censure vote with AFujimori. IN PRINT: The Miami Herald gets the ouster; the Washington Post only gets in a pre-vote piece. NOTE: This is the first time the Washington Post refers to the lynching of the mayor of Ilave. Reuters offers a photograph of the resigned Rospigliosi as well as archived photos during better days.

Mayor Lynched, cont.: Latinamerica Press profiles Mayor Fernando Cirilo Robles Callomamani and includes commentary by Rodrigo Montoya: "In Peru there are two errors in politics. The first is to confuse Lima with Peru. Authorities do not want to see that there is a problem anywhere else. The second is to believe that democracy is only synonymous with elections and that we are now living in a democratic system. Democracy assumes respect for others. And when the others are discriminated against racially, trampled on, mistreated, the resentment accumulates." Agence France Press puts out a new photo of the funeral of the lynched Ilave mayor. [NOTE: The two most recent polls, Imasen and CPI, are both Lima-exclusive.]

Coca Rising, cont.: Reuters also offers an udpate on the marchers and refers to a new government study that says "Peruvian demand for legal coca products is three times larger than the government coca agency ENACO supplies." Reuters also puts out a photograph of coca farmer Eugenia Escalante among others in the march. The article suggests that demand may be in part due to two large coca-using companies: Kokka Royal Food (with quotes from Eduardo Mazzini and Cristina Tudela) and 'Vortex energy drink,' (with quotes from Christian Chang). Both companies have export plans. Others cited: Congressman Adolfo LaTorre who wants to regulate legal coca production more efficiently. And Maria Quiroz is selling coca flavoured yogurt in the informal market. For More on Kokka and Vortex see the Assoicated Press piece in 'Have Some New Coke!' in April 11's Peruvia.

S/.1.5 Billion More for The State: The Miami Herald's business section reports on the increased spending by the Peruvian government "by 1.4 billion soles ($402 million), mainly in education and health, as the government's tax revenue will increase on a new banking tax and higher income from mining companies," according to Prime Minister Carlos Ferrero. The raise comes as a result of the new banking tax and the growing income tax revenue from the mining sector.

Gold Conference, cont.: Reuters continues their coverage of the Gold Conference in Lima with a report on Minera Aruntani, "a promising new gold mine [which] cost $25 million to get up and running and reserves should 'easily beat 3 million ounces this year," according to Exploration Manager Dante Loayza. The conference hall was "packed." Others cited: Enrique Figueroa (Placer Dome) and Ramon Araneda (Minera Barrick Misquichilca).

Dirty Copper: BNAmericas reports that an "independent report on the thorny water issue at global resource giant Anglo American's US$1 billion Quellaveco copper project in [Moquegua] is due to be published shortly." Through an "well-placed source," the story states that the report "will suggest a 'mixed solution' to Quellaveco's water supply."

Peru's Submarines: Connecticut's The Dolphin notes that the USS Thomas S. Gates will participate in an anti-submarine warfare exercise with the Peruvian Navy later this year. Earlier: For another exercise with subs, see 'Peruvian Submarine' in March 15's Peruvia.

Children's Artist: North Carolina's Herald Sun profiles artist Miriam Sagasti, "the native of Peru [who] has been illustrating children's books for years." See also several books that Sagasti has illustrated.

Food in Miami: The Miami Herald runs a delightful review of Cacciuco, an Italian Peruvian seafood restaurant in Coral gables. ALSO in their food section: The Miami Herald writes about cashews and notes that "Sixteenth-century European explorers found cashew trees growing on the banks of the Marañón River basin in the Peruvian Amazon, and named its fruit marañón or jocote marañón.

De Soto's Prize, cont.: The Washington Post includes HdeSoto's Cato Instute prize in their gossip page today. The "poverty activist" will be awarded the Milton Friedman Prize for Advancing Liberty tonight in San Francisco. (See the prize's announcement in 'De Soto Wins Prize' in April 1's Peruvia).


Wednesday, May 05, 2004

CPI Polling: MercoPress is among the first to report on the latest opinion poll by Compañía Peruana de Estudios de Mercados y Opinión Pública (CPI) in which "88.6% disapprove of AToledo's administration while 20.2% said they would vote for former president Alberto Fujimori if elections were held now." The headline on the article over reaches: "Growing number of Peruvians long for Fujimori." The CPI poll interviewed 500 residents in Lima during the last weekend. The poll is not yet online. (See also 'Imasen Polling' in April 24's Peruvia.)

Peru & Cuba Clash Cont.: The Vietnam News Agency comes to FCastro's defense by reporting that "in Peru, many social and political organisations have called for a mass meeting on May 5 to show solidarity for the Cuban people and reject the Peruvian Government's decision to recall its Ambassador to Cuba Juan Segura. A Peruvian politician told local reporters that the demonstration would show the Peruvian people's support to the Cuban Government and its people. Cubans had donated blood to help Peru overcome the consequences of an earthquake in the 1970s and have trained hundreds of Peruvian poor students." The Guardian quotes from an editorial in El Comercio: "The attitude of Mr Castro is totally unjustified. Peru only asked that Cuba cooperate with the protection of human rights. And this vote was cast along with numerous other countries that treat Cuban communism with equal contempt." The international community should intensify its pressure "so that the tyrannical government puts an end to the oppression of his people after more than four decades in power." And the Miami Herald reiterates what is already known: Peru has reduced its bilateral ties with Cuba to the level of charges d'affaires. [NOTE: Peruvia readers can access Miami Herald articles by using 'peruvia@peruvia.com'/'peruvia' as username/password.]

Guzmán and Polay Go On Hunger Strike: The Miami Herald reports that Abimael Guzmán and three other rebel leaders "have started a hunger strike, seeking amnesty for Peruvian insurgents," according to Manuel Farjado, Guzmán's lawyer. This is apparently based on a longer Associated Press piece which adds the names of the other hunger strikers: Elena Iparraguirre (Guzmán's lover) and Tupac Amaru leaders Peter Cardenas and Miguel Rincon. News reports in Lima add Victor Polay to the list. All of these individuals are serving life sentences in individual cells of the prison on the naval base of Callao.

Berenson Wants Out: New York's Village Voice runs another article on Lori Berenson who "has a chance to win her liberty this week." Nicole Karsin (an Associated Press writer) writes that the Berenson case "will be heard in Costa Rica by the Inter-American Court of Human Rights, the highest such court for members of the Organization of American States. The court has a range of choices, from doing nothing to ordering Peru to set her free."

Terrorists are Technologists: In Singapore's Strait Times, Professor Shyam Tekwani at Singapore's Nanyang Technological University states that "New media technologies have been in use by terrorist groups from Peru to the Philippines to communicate and network for over a decade now." He said that the "online activities of Al-Qaeda, Islamic and other terrorist groups are increasingly being monitored by counter-terrorism agencies, in the belief that they provide a kind of early warning system."

Rospigliosi Censured?: Dow Jones reports that "Peru's Congress will vote tonight on a motion to censure Interior Minister Fernando Rospigliosi." APRA presented the motion "which if approved will lead to his resignation from Toledo's cabinet." However, Prime Minister Carlos Ferrero declared that "he didn't expect the censure motion to be approved." (For background, see 'Mayor Lynched' in May 3's Peruvia below.)

Pensioners Strike: Agence France Press publishes a photograph of a woman "chained herself to the gates of the Women and Social Development Ministry in Lima" in a demonstration against both the Fujimori and Toledo governments.

Gold Conference in Lima: Reuters reports that Carlos Galvez, the president of the gold committee of Peru's private National Society for Mining, Petroleum and Energy, declared that "Peru expects to be the No. 5 bullion producing nation with output of 185 tonnes next year," during the opening session of the international gold conference being held in Lima. This growth will be largely due to the 2005 start of Barrick Gold Corp's Alto Chicama project. Galvez is also finance director of Peru's Compania de Minas Buenaventura. Minister of Energy and Mines Minister Jaime Quijandria added that "Peru is, without exaggeration ... an enormous gold deposit ... there is gold all over Peru." See 'Peru is #6' in April 26's Peruvia.

ALSO in Gold Conference:
- Reuters reports that "Peru plans to invite bids for San Antonio de Poto, an alluvial gold deposit which it said would cost $30 million to develop, in the second half of this year," according to Jorge Merino, coordinator of mining affairs for the government Private Investment Promotion Agency who spoke at the gold conference. However, a public relations campaign will also be needed. "Convincing local residents about the San Antonio de Poto mining project is key in Peru where peasant farmers marched in April to try to drive out a British-run copper project in the north, and where farmers in Tambogrande shut the door on a planned gold and copper mine last year." The mine is in the Ananea district of the province of San Antonio de Putina, near the Bolivian border.
- Reuters reports that 15 bidders have qualified for Las Bambas copper and gold deposit, set for auction on July 2, according to Jaime Quijandria, the Ministry of Mining and Energy. Las Bambas is eventually "expected to generate 1 percent of Peru's gross domestic product every year and will take $1.5 billion to start up."
- Reuters reports on the "low-grade, technically challenging Minas Conga gold and copper mine project in northern Peru [which] will require a $1.3 billion investment and could start production in 2010," according to Thomas de Mull (Newmont Mining) said during a presentation at a gold industry conference in Lima. "The concentrator alone is probably a $400 million investment." Added detail: "If gold prices slump badly "we'll put it on the shelf," De Mull said.
- Reuters reports that Gold Fields Minerals Services "still sees gold in the $390 to $450 range this year, despite last week's slide sparked by China saying its economy was overheating," at the conference.

Not Gold, Copper: Reuters reports that the Toromocho copper project expects to hold an initial public offering (IPO) in Canada in June to raise at least US$25 million," according to David Lowell of the Peru Copper Syndicate who spoke to reporters on the sidelines of the gold conference. Peru Copper Syndicate was "the lone bidder last May at an auction to develop Toromocho. It offered to pay a royalty to the Peruvian government of 0.51 percent of annual sales of treated ore."

Macro Econ:
- Dow Jones reports that the Trade Ministers from Peru, Colombia, and Ecuador "have formally asked U.S. Trade Representative Robert Zoellick to allow Bolivia to take part in negotiations aimed at reaching bilateral trade pacts." The Andean foreign trade ministers were meeting in Lima. They offered some in between steps and declared that "We want to make known the importance that the Andean Community, as a group, has to ensure as much as it can the widest participation of the countries that are part of the process of integration."
- Reuters reports that the Ministry of Economy and Finance announced the government "would auction 100 million soles of debt due Oct. 9, 2007 and 50 million soles of bonds due May 12, 2011 ... aimed at financing the fiscal deficit and promoting local capital markets."
- Reuters reports that "a cut in Peru's controversial bank tax has not prevented people from leaving the banking system and more cash transactions could lead to tax evasion," according to Raimundo Morales, Credicorp's chief operating officer. On March 25, Congress "approved a reduction in the new bank tax -- which is levied on customers when they transfer money, take out loans or use credit cards -- bringing the rate down to 0.10 percent from 0.15 percent for this year." The tax, due to run through 2006, will "raise revenue to pay for police and teachers' salary increases and for social projects like health service improvements." Dow Jones reports that "Peru's overall tax revenues, excluding certain contributions, reached 2.406 billion soles in April, an 8.8% increase in real terms over the same period a year earlier," according to SUNAT.

Micro Econ:
- Reuters reports that transportation and storage company Cormin will "stop exporting lead from May 11 until the government allows for the construction of a transport belt at Callao port to load container ships." Holland's Trafigura Beheer, which controls Cormin, "expects the closure to cost it $30 million a month." The company is the biggest warehouse in the port and the sixth biggest mineral exporter in Peru.
- Telefonica Moviles put out a press release to announce their growth in the first quarter and their net profit rising 17.9%.
- Bloomberg reports that Credicorp announced their "net income this year may rise by as much as a third as its retail loan portfolio more than offsets a decline of less profitable corporate loans," according to Walter Bayly, Credicorp's chief financial officer.
- BNAmericas reports that the "Peruvian banking and insurance regulator SBS put a new norm into effect that will allow pension administrators or AFPs to increase total funds in investment projects," according to the chief technical coordinator for the joint governing of AFP-SBS, Elio Sánchez. Note: "SPP's total funds come to US$6.74 billion, making the system the biggest institutional investor in the Peruvian economy."

SCristal 2 - Boca 3: The Associated Press, Reuters and the Voice of America note that Sporting Cristal was leading Boca Juniors 2-1 at halftime before late goals from substitute Jose Maria Calvo and striker Guillermo Barros Schelotto gave Boca "a dramatic win away to their Peruvian opponents in Lima." The Associated Press also offers a few photographs.

LHorna in Italian Open: The Voice of America reports that Luis Horna defeated 14th-seeded Dutchman Martin Verkerk 6-4, 3-6, 6-4 in the Italian Open.

Copa America Preps: Reuters: offers a photograph of Arturo Woodman, president of the Copa America 2004 organizing committee, holding the Copa America trophy at a press conference in Buenos Aires, as he announced "the twelve soccer national teams will compete in the South America's Copa America tournament, which will be held in seven venues of Peru starting on July 6."

El Che in Peru: Reuters reviews the 'The Motorcycle Diaries,' a new film by Brazilian director Walter Salles that "tells the story of that formative road trip" that the 23-year-old Che Guevara made. "During their eight-month trip through Peru, Chile, Colombia and Venezuela, they see such splendours as the Inca ruins of Machu Picchu in Peru but also the harsh conditions which many people lived in. They reach a leper colony deep in the Peruvian Amazon. Che, a medical student, and Alberto, who studied biochemistry, stay there for three weeks working with the community." The article states that the movie will go on broader U.S. release in the fall and will also be shown at the Cannes Film Festival in France later this month.

Schools Help to Chimbote: Pennsylvania's Valley Independent leads a story this way: "The poor in Chimbote are being helped by children who attend Madonna Catholic Regional schools in Donora and Monongahela. Their gift of almost $2,000 this year came mostly from personal sacrifices the students made to understand better the difference between those who have and those who have not." The Pittsburgh Roman Catholic Diocese has been involved with this project for 10 years.


Tuesday, May 04, 2004

Coca Rising, cont.: The Associated Press, the BBC and Reuters note that at least 3,000 coca growers have marched on Lima to protest at government plans to eradicate their crop. On hand to welcome the marchers were "hundreds of police officers carrying gas masks, tear gas and rifles." The protestors also "demanded freedom for their leader, in prison on terrorism charges." The BBC quotes Elsa Malpartida Jara and the AP and Reuters quote Nancy Obregon Peralta both of the Confederación Nacional de Productores Agropecuarios de las Cuencas Cocaleras del Perú (CONPACCP). (Neither news agency mentions the name of the group.) Added BBC Detail: "Many of the protesters collapsed on the ground under a baking sun after their 11-day journey by foot and by bus, which began hundreds of miles away in the Amazon region." [NOTE: Does this mean that the Lima sun in May was harsher than in Tingo Maria?] See also 'Coca Rises' in February 12's Peruvia.

Coca Rising, Photographs: The Associated Press offers photographs of the march. Reuters provides several photographs centering around the political movement Etnocacerista and its leader, Ollanta Humala. They joined "with thousands of coca farmers to protest against U.S. backed crop eradication and called for a larger legal market for coca production."

Peru & Cuba Clash, cont.: The Peru/Cuba squabble gets into the print editions of several newspapers including the Chicago Tribune, the Financial Times, the Los Angeles Times, Miami Herald, and the Washington Post. NOTE: Most of these include Peru inside a broader focus on Mexico's diplomatic move. In addition, the spat is also included in Korea's Chosun, Pravda, United Press International, and the Vietnam News Agency. The Associated Press offers a photograph of the Cuban embassy in Lima as well as a newspaper stand. (For more background, see 'Peru & Cuba Clash' in yesterday's Peruvia.)

On Booting Out a President: Dow Jones reports that Congress' Constitutional Affairs Committee "passed a motion that would make it more difficult to remove a sitting president from office." Details: "The vote in the committee was nine in favor of changing the law, with seven against. The resolution will now move to the full Congress." While AToledo backed the resolution, APRA Congressman Jorge del Castillo said the new regulations demand that two-thirds of Congress to remove a president may end up supporting AFujimori, who was "removed with only 62 votes in Congress, [and] could now have an opportunity to claim he was discriminated against."

More Mining:
- DYNACOR put out a press release to announce "the discovery of two new gold structures located in the western sector of the Acari property. ... These two gold structures oriented NW-SE, appear to be the continuation of the "Inka Cola" and "Coca Cola" veins on the "Agripinas" property.
- Aboslut Resources put out a press release to announce their letter of intent with AngloGold Exploracion Peru "to acquire the rights to all Anglogold's exploration projects and a geochemical database within a 200km by 40km belt of Northern Peru."

De Soto Prized, cont: The Asia Times runs an opinion piece by Peter Schaefer (of the 'Institute for Liberal Democracy') who provides a nice hagiography of Hernando de Soto. (See also 'De Soto Prized, cont.' in April 7's Peruvia.)

Team Peru in NYC? The New York Times briefly notes that "a promoter is trying to schedule a match between Argentina and Peru at Shea Stadium on June 30, which is nine days before they begin play in Copa América in Peru."

Pepe Barreto Gets A Star: The Associated Press reports that Pepe Barreto, the radio and television personality, "was honored Monday with [the 2,254th] star on the Hollywood Walk of Fame." His career began at "16 as a disk jockey for a radio station in Lima." The AP also puts out two photographs of Pepe.

PGibson/JCollins: The Scotsman reviews Joan Collins' arrival in Scotland while her husband, Percy Gibson, "gently took her aside to point out that her wide smile displayed teeth smudged with fuscia pink lipstick." Gibson is stage-managing the play Collins in which she is performing. Colegio Roosevelt-alum Gibson is Peruvian-Scottish and says of his wife: "She’s a great, great wife, a fantastic wife and a lovely woman." The article also notes that his mother, Bridget Monaghan, seems well.


Monday, May 03, 2004

Peru & Cuba Clash: Agence France Press, the Associated Press, the BBC, Bloomberg, CNN, Reuters the Voice of America, and Xinhua News Agency report that Peru withdrew Ambassador Juan Alvarez Vita, its envoy to Cuba on Sunday after harsh criticism from President Fidel Castro at a May Day speech in Havana on Saturday." Castro had "lashed out at Lima, saying Peru was an example of the 'wretchedness and dependency' left by neo-liberal economic policies. [Castro] slammed unpopular President Alejandro Toledo as a man who 'does not and cannot direct anything.' " In response, a Foreign Ministry statement in Lima said Peru "rejected Castro's 'offensive' comments and was downgrading its diplomatic representation to a business attache. It is the second time Toledo's government has pulled out its envoy." A separate Reuters piece quotes Foreign Minister Manuel Rodriguez Cuadros declaring that relations with Cuba would continue at "a medium temperature." According to an interview with RPP, Rodriguez stated that "We can maintain exchanges of commercial cooperation and dialogue with Cuba as long as the Cuban government can conduct itself in the future in a manner that is not out of step with international practice." Reuters decided it was appropriate to furnish a photograph of Toledo with Castro in January 2003. NOTE: An updated Associated Press story takes a different twist and says that US Secretary of State Colin Powell "offered Mexico and Peru strong backing in a dispute with Cuba over human rights" as he "presented recommendations to President Bush on Monday to end communist rule in Cuba." The United Press International reports that Powells comments were declared at a Council of the Americas Conference.

Press in Peru: Today Reporters Without Borders honours the 14th World Press Freedom Day and releases their Annual Report which includes a three page section on Peru. "Press freedom suffered in 2003 from the political instability and the efforts of a discredited government to control its image." Sections include: "Two journalists detained;" "15 journalists physically attacked;" "Four journalists threatened;" "Harassment and obstruction." The Associated Press adds a photograph of the commemoration in Lima.

Mayor Lynched, cont: The Catholic News Service offers their take on the Ilave lynching, stating that this incident has "shocked the country and raised new challenges for the area's Catholic Church, which has historically been a leader in human rights." Quotes come from Bishop Elio Perez Tapia of Juli and Victor Maqque, who heads the university ministry at the National University of the Altiplano in Puno. ALSO: "As soon as the protests began, the Vicariate of Solidarity, the local church's human rights office, immediately began talking with groups on both sides of the conflict. But vicariate coordinator Nancy Astete said Peruvian legislation complicated the search for a solution." Several Australian news sources observe that "coca growers were today preparing to march on Lima to protest Peruvian President Alejandro Toledo's policies after a week that saw a wave of rural town council kidnappings and the lynching of a mayor." There were "between 5000 and 7000 coca growers were massed at a municipal stadium in Chosica." They also note that the town of Tilali "released five city council members they had held since Thursday. They suspended their mayor for a year, saying he was corrupt," supported by reporting from Radio Programas del Peru. Also: Congressman Lorenzo Torres Calla "was run out of town, according to local media."

Free Trade, cont: Bloomberg and Reuters reports that "the United States said it would begin talks with Peru and Ecuador this month on a free-trade pact the Latin Americans see as an 'historic' chance to boost exports and create jobs," according to U.S. Trade Representative Robert Zoellick. They join Colombia "but Bolivia is still lagging and will be left out for now." AToledo "hailed the free-trade agreement as an 'historic treaty (which) will mark a new milestone in Peru's relations with the United States.' " Also quoted: Foreign Trade Minister Alfredo Ferrero; Foreign Minister Manuel Rodriguez Cuadros. Also detailed: the expiration in 2006 of the Andean Trade Preferences and Drug Eradication Act. (See also 'Free Trade or Free Trade?' in April 24's Peruvia.

Gold Conference: Reuters reports on the upcoming (May 4-7) conference with gold producers to be held in Lima in the context of "gold prices and hedging now that major market driver China is talking about cooling down its juggernaut economy." Officials from the four biggest gold producers, Newmont Mining Corp, AngloGold Ashanti, Barrick Gold Corp, and Gold Fields, among others, will "survey investment prospects." Also included: possible mining taxes. Quoted: Carlos Galvez and Jose Miguel Morales (both of the National Society for Mining, Petroleum and Energy), and an organizer of the biannual event; and Haytham Hodaly (Salman Partners in Vancouver). Interfax obliquely mentions MGorbachev's presence in Lima. He will be the headliner at the conference.

Macro/Micro Econ:
- Reuters reports that Credicorp's first quarter numbers "rockets 1,104%."
- Lumina Copper Corp. put out a press release to announce that it has "completed the purchase of the Molino mining concession that lies contiguous to Lumina's Galeno property in the Yanacocha district in Peru. Lumina has a long-term option to acquire a 100% ownership interest in the Galeno property."

Why No More Guano, cont: Science Daily follows up with the new study in the current issue of Fisheries Oceanography that says the populations of Peru's famous island birds "have declined dramatically in the last 40 years, largely because the availability of their main food supply, anchovies, once plentiful, has been severely reduced by the Peruvian fishery." A separate press release has several accompanying photographs. The New York Times refers offhandedly to this news. (See the bottom of the article.)

Truth Commission Reported: National Public Radio's Tavis Smiley interviewed Ellis Close, the author of Bone to Pick: Of Forgiveness, Reconciliation, Reparation, and Revenge, a book that "concludes that the truth and reconciliation commissions in South Africa and Peru provided more of the former than the latter; a Peruvian tells him that reconciliation must be rooted in fundamental change that has so far not been forthcoming in that country."

LHorna Defeated: The Washington Post reports that Nikolay Davydenko "needed 84 minutes to defeat" Luis Horna 6-4, 6-1. Reuters offers a photo of Horna in his final match of the tournament. Davydendko went on to win the BMW Open.

Sporting Cristal vs Boca Juniors: Reuters previews the match between Sporting Cristal "dreaming of another upset when they host Boca Juniors in Tuesday's South American Libertadores Cup second round, first leg match."

- Minnesota's St. Cloud Times notes that Rev. John 'Jack' Davis, a missionary in Chimbote, will receive the Pax Christi Award at St. John's University.
- An article in the Revolutionary Worker has at least three references to the Partido Comunista del Peru today.
- Italo-Peruvian Art: The Washington Post lists that "Italian-influenced Peruvian furnishings" will be dsplayed at the Palazzo Italia, Italian Cultural Center, in Baltimore. "Hand-carved pieces created by artisans from Peru's Andean Mountains who are members of a cooperative taught by masters from Italy."

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