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White Martins, the Brazil-based subsidiary of US Industrial gases company Praxair (NYSE: PX), announced Wednesday (Jul 13) it has signed a 15-year agreement to supply nitrogen and oxygen to Brazilian petrochemical giant Braskem (NYSE: BAK).
White Martins will build and operate a new on-site cryogenic air separation plant with a capacity of 200t per day.
The plant will supply Braskem’s expanded polyvinyl chloride (PVC) unit in the northeastern state of Alagoas.
A Praxair spokeswoman told BNamericas that the “initial stages of construction have already begun, and the plant is expected to be operational in the second quarter of 2012.”
Braskem already has a PVC unit in Alagoas, and this project will almost double its annual PVC production capacity in the state, making Alagoas the largest producer of PVC in Latin America.
– Allowing the EFSF bailout mechanism to buy back bonds from the secondary market would help deal with Europe’s debt crisis, European Central Bank Executive Board member Lorenzo Bini Smaghi told a Greek newspaper.
Euro zone policymakers are exploring ways to extend a rescue deal for overborrowed Greece and give it more time to repair its public finances. At the same time, authorities are trying to prevent the debt crisis from escalating in the bloc’s periphery.
One option being looked at is enabling the European Financial Stability Facility to provide funds for buying back bonds from private investors, a move that could help the country lighten its debt load.
“We have said that a useful option would be for the temporary EFSF mechanism to buy bonds in the secondary market. This option, however, is not included in the design of the EFSF. If there was a way to change this, it would be useful,” Bini Smaghi told Sunday’s To Vima newspaper in an interview.
“This would allow the private sector to sell bonds at market prices, which are currently below nominal value.
Vancouver-based Aura Minerals (TSX: ORA) has budgeted US$5mn for the feasibility study on the Serrote da Laje deposit at its wholly owned Arapiraca copper-gold-iron ore project in Brazil’s Alagoas state, corporate secretary Deepk Hundal told BNamericas.
Aura announced on July 12 that it had awarded the study to SNC-Lavalin and Brazilian subsidiary SNC-Lavalin Minerconsult Engenharia. The study is underway and scheduled for completion late in 1Q12, Aura said in a statement.
The company had previously expected to complete a feasibility study for Serrote in 4Q10.
Aura deferred the start of the study in order to focus on its producing assets, Hundal said, adding that the company did begin preliminary work related to the study
“In parallel, Aura Minerals has been performing preparatory work related to the Serrote feasibility study, including a metallurgical testwork program and design updates. With this preparatory work, we are in a good position to efficiently complete a high quality feasibility study,” he said.
When you of Cisco (CSCO), no one is sacrificing himself on your behalf. You’re a willing buyer, someone else is an amenable seller, and you voluntarily agree to transact at a mutually beneficial price. Both parties get what they want.
It’s the polar opposite of the doctrine of “shared sacrifice” permeating through Washington, and by unfortunate extension, the economy. The burgeoning Federal deficit, now significant enough to warrant a warning from Moody’s on the country’s AAA rating, can only be solved through shared sacrifice, which, in President Barack Obama’s words, means wealthy individuals will finally be required to
Mr. Obama’s underlying philosophy hasn’t changed from before the campaign. As I pointed out nearly three years ago, he believes Americans should be willing to sacrifice. “Patriotism must, if it is to mean anything, involve the willingness to sacrifice — to give up something we value on behalf of a larger cause,” he told an audience in 2008.
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