Peruvia

TANS JET CRASHES IN PUCALLPA

UPDATE, 7:00pm (GMT+5): Australia’s SBS, Pravda and Xinhua are offering what seem to be Associated Press wire stories. Reuters reported that the TANS Boeing 737-200 “made an emergency landing without its landing gear on a road near[Pucallpa] several miles (km) before the runway. It was due to fly to the northern jungle city of Iquitos.” AFX is reporting that passengers survived the crash. One of the survivors, Tomas Ruiz, told reporters the plane appeared to be affected by the bad weather. "With 10 minutes remaining for us to land in Pucallpa we noticed that the plane was moving too much because of the weather," he said. Another survivor, William Zea, said the "plane had problems and we fell."

UPDATE, 5:09 pm (GMT+5): Associated Press is reporting that “a commercial airliner carrying an unspecified number of passengers crashed today near [Pucallpa] and radio reports said at least two people were dead and about 20 others injured with burns and broken bones. “We standing next to the cabin and we can see the body and it appears that it is a flight attendant in her unform. We can also see a person, it appears to be a female," a correspondent for Radioprogramas radio said. "There are bodies of children. Many bodies."

Rumsfeld in Lima: The Asian Tribune reprints an ‘''Intelligence Brief: Rumsfeld Visits Paraguay and Peru'' by the Power and Interest News Report. It was drafted by Purdue University Professor Michael Weinstein. “The pressing reason for Rumsfeld's trip is the deterioration -- from Washington's viewpoint -- of the political situation in Bolivia. ... Washington's primary concern is the escalating support for Evo Morales.” NOTE: “The overriding aim of Rumsfeld's trip to Paraguay and Peru, where he met with the countries' presidents and defense officials, was to persuade them to increase military cooperation with Washington and to create a coalition geared to isolating Caracas in the hemisphere. ... The present strategic importance of Paraguay and Peru for Washington is enhanced by the fact that they border Bolivia.” ALSO: “Toledo stressed that the focus of his talks with Rumsfeld was not strategic, but economic. Lima wants Washington to conclude a promised free trade agreement with it, claiming that progress on the coca problem depends on opening up markets in the U.S. for alternative crops.” SEE ALSO: ‘Rumsfeld in Lima’ in August 19’s Peruvia.

Peru in PANAMAX: The Navy Newstand reports on ‘Fuerzas Aliadas PANAMAX 2005 which ended August 17 in Panama City. PANAMAX is a multinational training exercise, took place Aug. 4-17, and brought 15 nations [including Peru] together in the common goal of securing the Panama Canal and its pathway to trade throughout the world. NOTE: “Peruvian Capt. Jorge Moreno, commander of the Combined Task Group Pacific, said forces he commanded from the various participating countries "operated in harmony" to meet those challenges.” SEE ALSO: ‘Inter-American Naval Conference’ in May 7, 2004’s Peruvia.

Toledo’s Numbers Dismally Up: Angus Reid reviews the latest poll from the University of Lima to conclude that “most Peruvian adults are dissatisfied with Alejandro Toledo, according to a poll by Universidad de Lima. 85.3% of respondents in Lima and Callao disapprove of the president’s performance, up 3.9% since July.”

Maurtua in Chile: The Associated Press and Reuters offer photographs of Peru's Minister of Foreign Relations Oscar Maurtua Romaña with Chile's president Ricardo Lagos at La Moneda Presidential Palace in Santiago. Maurtua is in Chile for a two-day official visit. The Associated Press shows Maurtua with his Chilean counterpart Ignacio Walker upon their arrive at La Moneda.

Violence In Ayacucho: The Miami Herald (in its Latin American Briefs column) offers a wired report from Ayacucho saying that “police said Monday they had discovered the bodies of four suspected cocaine traffickers who apparently were ambushed, shot and robbed of a drug shipment last week on a remote mountain path in Peru's central Andes. Police were alerted by a local man who found the victims Sunday on the path, more than 15,000 feet above sea level in Viracocha, 35 miles north of this provincial capital city.” According to police, “the path is a known route for cocaine smugglers.”

Violence in Paterson: NorthJersey.com reports that “police were searching Monday for a city man who they say opened fire on two others outside a Wayne Avenue restaurant, killing one and leaving the other in critical condition. Police say Robison Urruti, 49, of Madison Avenue, got into an argument over a woman with one of the men, Arturo Labaton, during a gathering early Sunday at the El Sabor de Mi Barrio Restaurant [a Peruvian restaurant]. Urruti left, but returned with a handgun to wait outside for Labaton, police said.” NOTE: “Rolando Mendoza described his son as a lover of soccer and Latin music and said he had been working most recently as a welder after coming to the United States from Peru 10 years ago.” ALSO: “Police described Urruti as 5 feet 6 inches, 170 pounds, with short black hair, brown eyes and dark skin. A native of Peru, he also goes by Carlos E. Duran and Roberto Huaman Sanchez, police said.”

Peruvians in USA: The Brunswick News (Georgia) reports on new Hispanics migrating into the United States and reviews legislation before the US Congress in this matter. The story features Enrique and Rossana Patron, “who left Peru with their two sons 10 years ago. A graduate of Peru's merchant marine academy, Enrique Patron was hired to work as an engineer aboard the Emerald Princess casino cruise boat. Within six months, he was promoted to chief engineer. ... His wife arrived with an accounting degree from a Peruvian university.” The Westchester Journal News (New York) offers a similar story and includes “Eva Escalante, one of 10 brothers and sisters whose father is a mechanical engineer in Lima, Peru. She said her two oldest siblings, a brother and sister, went to Argentina to find work. The two youngest, herself and a sister, came to the United States.” She says, “The economic situation (in Peru) is very bad. From here, one way or another, I can support myself and my child, and at the same time send something every month so that my parents can live decently.”

Americans in Peru: The Boston Globe reports on investigations into the affairs of Massachussetts Lt. Gov. Kerry Healey’s husband but cannot interview either of them because “Healey is vacationing with her family in Peru this week and was unavailable for comment.”

SPORTS:

• FIFA reports that ‘Vicky the Vicuña’ was introduced at the Videna complex in “her official bow as mascot for the FIFA U-17 World Championship taking place in Peru in September.” NOTE: “Despite being the smallest of all Camelid species, Vicky cuts an imposing figure, with her long neck. Even so, she will struggle to match the success of Chasqui, the hugely popular mascot of the 2004 Copa America.” ALSO: Manuel Burga, President of the Peruvian Football Federation, declared, “The World Championship will be represented by a character that has been a vital part of Peru's history. The vicuna's presence will add lustre to the tournament, to our history and to the country's image. It's a likeable, original and typically Peruvian mascot and that's why we're sure it will be just as popular as its predecessor." CITED: Germán Leguía, 'Puchungo' Yánez, Julio César Uribe, Juan José Oré and Arturo Woodman. The FIFA U-17 World Championship will take place from 16 September to 2 October.
• Reuters notes that Luis Horna lost 6-7(4) 7-6(5) 7-6(5) to Victor Hanescu (Romania) in the Long Island Cup.
• The Telegraph is reporting that Ashton coach O'Leary has said “he will not stand in the way of Nolberto Solano if the Peruvian international winger wants to leave Villa Park. Solano had been linked with a move to Liverpool.”

Macro/Micro Econ:

• Dow Jones reports that “Mexican wireless communications provider America Movil plans to invest around $200 million in Peru over the next two years, America Movil Chief Executive Daniel Hajj said Tuesday.” NOTE: “On Aug. 10, America Movil bought Telecom Italia Mobile SpA's (TI) Peruvian TIM unit, giving it an instant client base of more than one million subscribers in the Andean nation.” ALSO: “Hajj said his company is not going to war with Telefonica Moviles SAC, a unit of Spain's Telefonica SA, (TEF) as there is plenty of room for growth in Peru's market given its low cellular-phone density. According to the latest figures from Peru's telephone regulator Osiptel, cellular telephone density was 15.90 per 100 residents. ‘It is 35% in Latin America so there is lots of room for growth in Peru,’ said Hajj.”
• The Financial Times (Hal Weitzman) reports that “Jeffrey Immelt and Jack Welch are wanted men in Peru. A judge in Lima ordered the arrest of the current and former General Electric chief executives this month, and of 24 other GE employees. They are accused of breaching a contract with Guillermo Gonzales, a local businessman who says he invested $10m in offices and an assembly plant in the 1990s.” (SEE ALSO: ‘Peru judge orders GE's Immelt, Jack Welch arrested’, August 9, 2005, Reuters.)
• Dow Jones reports that investment bank UBS on Monday “upgraded financial holding company Credicorp Ltd. to a buy from a neutral rating, citing ‘a stronger macro environment, Credicorp's improved operating performance and valuation multiples that are not demanding’." NOTE: “In a report, UBS said it remains positive on Peru, with Credicorp as its preferred play on the improving domestic story.”
• Dow Jones reports that Credit Suisse First Boston on Tuesday “lifted its economic growth forecast for Peru to 5.5% for this year from a previous estimate of 5.2%, citing strong growth in private investment and net exports in the second quarter. That follows statements made last week by Finance Minister Fernando Zavala that gross domestic product should expand by 5.5% or more this year, up from a previous official forecast of 4.8%.”
• Petrolifera offered a press release reporting their receipt of a license for Block 107 in Ucayali. The company also reported in a separate press release that “License for Block 106 (Maranon Basin) was finalized. Block 106 covers “approximately two million acres in the Maranon Basin of northern Peru.” Block 107 covers almos three million acres.
• Houston Business Journal reports that BPZ Energy Inc. announced Monday “that it has signed a memorandum of understanding to sell power from a proposed plant in Peru to Luz del Sur SAA, one of the largest power distribution companies in that country.” SEE ALSO: ‘Navidec Investment’ in April 26, 2004’s Peruvia.
• The Greater Triad Business Journal that “the Kirschner Agency has landed a Peruvian furniture maker as a new client. South Cone, Peru's largest furniture maker and manufacturer, has hired Kirschner to develop its brand position for the United States and to communicate that brand through public relations, a new Web site and other materials.”

MINING:

• Dow Jones reviewed July’s mining numbers including zinc, copper, and molybdenum released by the Ministry of Energy and Mines. ALSO: “Work on Sociedad Minera Cerro Verde SAA's $850 million expansion is moving ahead and the project will be operational by December 2006, company president John Broderick said in an interview published in El Comercio newspaper Monday.”
• BNAmericas and Reuters report that Canadian miner Barrick Gold's new Lagunas Norte gold mine in northern Peru “was officially opened on Friday (Aug 19) in the presence of President Alejandro Toledo.” According to BNA, “Barrick announced in February 2005 that the mine would produce 800,000oz/y of gold at US$155/oz for the first three years starting in 2006.” NOTE: “The mine, at an altitude of 4,200m in the Alto Chicama district of La Libertad department, has proven and probable reserves of 229Mt at 1.24g/t to contain 9.12Moz of gold.” Reuters reports that Peru's gold output “surged 22% in June as Canada's Barrick Gold Corp opened its Lagunas Norte mine, but copper output slid 19% after protests halted production at BHP Billiton's Tintaya mine,” according to the government. NOTE: “Copper production in Peru, the world's third largest producer of the red metal, fell 18.8% in June, compared with the same month in 2004.”
• Dow Jones reports that “work on Sociedad Minera Cerro Verde SAA's $850 million expansion is moving ahead and the project will be operational by December 2006, company president John Broderick said in an interview published in El Comercio newspaper Monday. The expansion is one of Peru's largest mining projects and is expected to triple Cerro Verde's copper output to 300,000 metric tons, according to Broderick.”
• The Andean American Mining Company offered a press release to announce the activation of their Sinchao Project. "This is a day I have waited on since being elected to the executive of the Company. The continuity of the mineralization is just too strong to be ignored. This property is worthy of all the questions and deserves a program to be put into place to find the answers," stated John Huguet, Chairman.
• The Phoenix Business Journal (Arizona) reports that Phoenix-based Southern Peru Copper ranked 20th in Fortune Magazine's 100 Fastest Growing Companies in America list for 2005. “To compute the rankings, Fortune used data supplied by Zacks Investment Research and giving equal weight to three factors: profit and sales growth (for three years through the first quarter 2005) and three-year total return (through June 2005). At a three-year annual rate, Southern Peru Copper posted revenue growth of 38%.” NOTE: “Southern Peru Copper, an integrated copper producer, was not ranked in Fortune's 2004 list.”
• Acero Martin offered a press release to report “the results of the final four core holes from its ongoing exploration program at the Pinaya Copper-Gold Project, located in southern Peru. Recent drilling has intersected significant copper-gold porphyry mineralization at two locations within a target area measuring more than 1000 m along strike.” Drill hole maps can be viewed here.
• Gitennes Exploration offers a press release “to advise that core drilling has begun at the Company's Tucumachay Project. Tucumachay is a road-accessible, 3,200-hectare gold exploration property located in the Andes Mountains of central Peru, between the cities of Lima and Huancayo.”
• Sienna Gold offered a press release to announce “that it is preparing the documentation for the regulatory approval process for a preliminary drill program at its Igor gold property. The Company has recently completed a detailed of aerial photogrammetry survey and is analysing that data. A program of underground and surface mapping and sampling has been ongoing since late July and the encouraging results have led to the drill program decision.” The Igor mine is located in the Yanacocha-Pierina gold corridor.

PEOPLE:

• Forbes and the Independent (Hugh O'Shaughnessy) runs the obituary of Andrónico Luksic Abaroa, the Chilean billionaire industrialist who was a major stakeholder in Lucchetti, a dried pasta firm prominent in Peru.” He was one of three on Forbes Billionaire list in Chile.
• The Day (Connecticut) reports on pop music group Air Supply who “perform an average of 120 dates a year and are wildly popular in Indonesia, Peru, Bolivia, El Salvador and Guatemala.”

OTHER: North Korea reports that the Peruvian-Korean Institute of Culture and Friendship arranged a meeting on Aug. 12 to commemorate the 35th anniversary of its foundation. Attending it were leading officials of political parties and organizations, including Angel Castro Lavarello, chairman of the institute, Luis Mateo Munoz, general secretary of the Socialist Party of Peru, and Manuel Castillo Cabrera, international secretary of the Central Committee of the Peruvian Communist Party. NOTE: KCNA also reported that DPRK Foreign Minister Paek Nam Sun “sent a congratulatory message to Oscar Maurtua de Romaña on his appointment as Peruvian foreign minister. The message wished him success in his new job, expressing the belief that the friendly and cooperative relations between the two countries would grow stronger in the days ahead.”

Permalink; posted by Peruvia : 8/23/2005 07:14:00 PM