Minnesota joint venture
Japanese firms Matsushita Electric Industrial, Toshiba and Sharp have embarked on a joint venture to start recycling operations for used electronic products in Minnesota, US. The joint-venture company, Electronic Manufacturers Recycling Management Company, was established last September, with an investment of $310,000 reflecting new recycling regulations in Minnesota that require manufacturers to collect and recycle their used electronic products such as television sets and personal computers.
Chinese aluminium refinery
China’s Bosai Minerals Group, a private mining company in the south-western metropolis of Chongqing, has announced an investment of $694m to build a one- million-ton aluminium refinery in Guyana. Bosai will launch construction in the first half of 2009 and production will start in 2011. Bosai is also considering building an aluminium smelter if the aluminium project is a success.
Open-pit gold mine in Brazil
Canada’s Yamana Gold has approved the construction of a 103,328 ounce a year (oz/y) open-pit gold mine in Brazil’s Bahia State. The company will spend $139m on building the Santa Luz mine, with production expected to begin in early 2010. The mine will have a throughput of 2.5 million tonnes a year and production costs are expected to range between $390/oz and $410/oz. The project has total measured and indicated resources of 2.3 million ounces of gold and an inferred resource of 0.2 million ounces of gold.
Colombian tourist resort
Luxury condominium company The Related Group is investing an estimated $200m in the area of Cartagena, Colombia in a tourism project. The development will comprise three towers, to include a five-star 200-room hotel, a 300-unit residential complex with the first-class hotel services characteristic of other Related Group projects, including a casino and luxury spa. The company will invest in Colombia through its affiliate, Related International.
Bogotá bamboo factory
Chinese company Yapu and two Colombian companies have signed an agreement in Bogotá to establish a joint factory to make bamboo products. Yapu, from central China’s Anhui province, will hold a 55% share in the joint factory, while Colombia’s Giram company and GBA company will hold the remaining 45%. With an investment of about $10m, the bamboo plant will be set up in Quindio province of central-west Colombia, and will create about 350 jobs. It will occupy more than 30,000 square metres.
This investment news and data has been provided by OCO Global, a provider of strategic consulting services for economic development organisations in the area of FDI. Key services include management consultancy, investor targeting services, training and mentoring, and software development.
Americas FDI, 2007 (number of projects)
Source: OCO Global
Americas FDI, 2007 (number of jobs):
Source: OCO Global