Tuthill is looking for distributors in Central America and the Caribbean for its highly profitable brands Fill Rite, Sotera and Precision Meters.
Tuthill Transfer Systems, North America's leading manufacturer of pumps and meters for the dispatch and transfer of fuels, is looking for distributors in Central America and the Caribbean to represent and market their brands Fill Rite, Sotera and Precision Meters, which offer an excellent profit margin .
From 14 to 16 November, the fifth Central American Energy Fair will take place, with the theme "challenges and opportunities for boosting the region’s energy potential."
The event, which anticipates the participation of 80 to 100 companies, brings together businessmen and investors from the energy and oil sectors and, for the first time this year, the mining sector.
During 2011 the price of gold has continued to rise, and so far this year has recorded growth of 16%, which has encouraged mergers and acquisitions in this mining sector.
In the eleventh year of rising prices, gold reached the record value of $1,923.70 an ounce on September 6.
"BlackRock Inc., which manages natural resource funds for $35.750 million, estimated there could be more mergers and acquisitions in the gold mining sector after the price of gold rose to unprecedented levels", reported Bloomberg News.
The Peruvian Congress has passed a law which will raise the taxes on mining profits by six times its current value, equating to about $1,100 million annually.
The reform, driven by nationalist president Ollanta Humala, aims to reduce the high rate of poverty in the country which is rich in natural resources.
An Article in Reuters reports, "Peru's mining sector, the second largest producer of copper and silver, is vital to the local economy as it contributes to nearly 60 percent of export earnings."
The Economy Minister launched an environmental consultation process to create policies for the mining sector.
A number of workshops will be organized involving all stakeholders (NGOs, the civil society, private companies, government entities, etc) to discuss the mining situation in the country, explained Dada Hirezi, Economy Minister.
"Each sector must feel free to express its thoughts on the matter", explained Dada, adding that the objective of this process is to receive feedback to elaborate clear mining regulation in the country, and to define the nation's heading in the topic.
The International Center for Settlement of Investment Disputes dismissed a lawsuit filed by Commerce Group.
The lawsuit filed under CAFTA terms alleged that the Government, in 2006, without justification, revoked permits which had been awarded for the exploitation of mines in San Cristobal and San Sebastian and that a request made in 2008 to extend operating licenses at the San Sebastian and Nueva Esparta mines was denied.
There are 26 mining projects between applications for exploration and exploitation which have not been approved.
Applications for mining comprise nearly 5% of the country's territory.
Laprensagrafica.com says, "companies have found a vein of gold that begins in Mexico and goes through all the countries of Central America and ends in Costa Rica."
A Congress committee has initiated an investigation into a new law that would prohibit mining within national territory.
The parliamentary initiative seeks to eliminate mining in El Salvador," a communication by the Legislative Assembly states.
"On the Committee for the Environment and Climate Change both the governing left and opposition right leaning parties are represented and all agree on the need to enact a law that bans the exploitation of the country's mineral resources," reports Laprensagrafica.com.
The Canadian mining company, currently embroiled in an international arbitration case with El Salvador, has signed a letter of intention to acquire a gold mine in Panama.
Known as "El Remance", the mine is currently the property of Clifton Mining Company, with whom Pacific Rim will sign an option to purchase a 100% stake in the project.
Pacific Rim commits to paying $200,000, issuing five million shares to Clifton, carrying out drilling and environmental works, and paying an additional $5 million when it exercises the option.
The Salvadoran government has filed a new set of objections after the
The document, presented as a response to the backing given by the International Center for Investment Dispute Resolution (CIADI), describes the way the company changed its nationality in order to take advantage of the benefits of the free trade agreement.
"The jurisdictional objections filed, to which El Diario de Hoy was given access, argue that Pacific Rim's claims are inadmissable owing to the abuse of due process it committed. The mining company's official headquarters used to be in the Cayman Islands, part of the United Kingdon, but since 2007 it has called Nevada home, three years after the conflict with El Salvador's Economy Ministry began".
The court at the International Centre for Settlement of Investment Disputes (ICSID) has ruled in favor of the Canadian gold mining company and dismissed preliminary objections raised by El Salvador.
Pacific Rim, owner of the El Dorado gold mine, is at the center of an international dispute with the Salvadoran government. The company claims that the government owes it at least $77 million for delays suffered to the mining project, in violation of the Central American Free Trade Agreement (CAFTA-DR).
CABEI confirmed that the works to build the new seat of the Costa Rican Legislative Assembly, valued at $96 million, will start on April 2011.
According to the contract signed with the Inter-American Development Bank on 2008, works were scheduled to start on 2010, but were delayed due to problems securing the lots.
The process was resumed after negotiations between Luis Gerardo Villanueva, president of the Assembly, and representatives from the Bank.
El Salvador and Costa Rica say NO. Panama and Nicaragua say YES. Guatemala and Honduras are expected to decide soon.
Gold and copper prices are on the rise, and investors are eager to put money in extraction projects all over Central America.
But the governments of Central America have different opinions over this industry. While these projects are welcomed and authorized In Panama and Nicaragua, informal and formal moratoriums to the activity are being decreed in Costa Rica and El Salvador, stopping mining concessions under pressure from environmentalist groups. Meanwhile, in Guatemala and Honduras new projects are awaiting rules and regulations that will likely toughen environmental regulations for the mining industry.