Latest news with #AndeanRegion
Bloomberg
04-07-2025
- Politics
- Bloomberg
Cocaine Boom and Rising Violence Push US to Reassess Colombia
By and Eric Martin Save Rising tensions between the US and Colombia suggest Donald Trump's administration is upping the pressure on the Andean nation ahead of a decision on its certification in the fight against illegal drugs. While Colombia has historically been Washington's most reliable ally in Latin America, receiving more than $10 billion in US aid this century, its security situation has sharply deteriorated. President Gustavo Petro's perceived lack of cooperation on the narcotics issue has been a key source of tension, according to a person familiar with the matter, speaking anonymously to discuss private conversations.
Yahoo
19-06-2025
- Politics
- Yahoo
Petro's labour reform referendum suspended by Colombia's Council of State
Colombia's Council of State has suspended a decree by President Gustavo Petro that sought to call a referendum on a labour reform, citing a lack of Senate authorisation. The move on Wednesday comes after Petro last week bypassed legislative opposition and signed a decree summoning voters to the polls in August to decide on the labour reform. The package includes provisions for an eight-hour daytime workday, higher weekend and holiday pay, and mandatory social security contributions from delivery app drivers – key social policies the left-wing leader has pushed for. A majority of the social and economic reforms promised by Petro – who was elected in 2022 on pledges to right centuries of inequality in the Andean country – have been rejected by lawmakers. The decree sparked criticism from the opposition, which argued that Petro's decree violates the Political Constitution of Colombia and destroys the separation of powers of the country's three branches of government. Under Colombian law, the Senate must rule on the advisability of referendums. If the referendum were to be held, each measure would need to be approved by the majority of at least 13.5 million voters, a third of Colombia's electoral roll, to be valid. Political opponents also said the costly referendum was really aimed at boosting Petro's party ahead of 2026 elections, when he cannot seek re-election. Despite the failure to call a referendum, the Senate on Tuesday approved a revised version of the labour reform bill after extensive debate, with 57 votes in favour and 31 against. The Senate previously rejected the reform bill in April, but it was revived after Petro warned he would declare a referendum to put the measure to a public vote. The presidency dubbed the bill 'a historic step toward decent work' in a post on X shared by Petro. Protests were recently held in the capital Bogota and other major cities by advocates of Petro, who expressed their support for his proposed labour reform. Colombia is still reeling from bombing attacks in the southwest of the country that left seven dead and an attempted assassination on conservative opposition senator, and presidential hopeful, Miguel Uribe Turbay, which sparked fears the country could return to its darker days of assassinations and prolonged violence.
Al Jazeera
18-06-2025
- Politics
- Al Jazeera
Petro's labour reform referendum suspended by Colombia's Council of State
Colombia's Council of State has suspended a decree by President Gustavo Petro that sought to call a referendum on a labour reform, citing a lack of Senate authorisation. The move on Wednesday comes after Petro last week bypassed legislative opposition and signed a decree summoning voters to the polls in August to decide on the labour reform. The package includes provisions for an eight-hour daytime workday, higher weekend and holiday pay, and mandatory social security contributions from delivery app drivers – key social policies the left-wing leader has pushed for. A majority of the social and economic reforms promised by Petro – who was elected in 2022 on pledges to right centuries of inequality in the Andean country – have been rejected by lawmakers. The decree sparked criticism from the opposition, which argued that Petro's decree violates the Political Constitution of Colombia and destroys the separation of powers of the country's three branches of government. Under Colombian law, the Senate must rule on the advisability of referendums. If the referendum were to be held, each measure would need to be approved by the majority of at least 13.5 million voters, a third of Colombia's electoral roll, to be valid. Political opponents also said the costly referendum was really aimed at boosting Petro's party ahead of 2026 elections, when he cannot seek re-election. Despite the failure to call a referendum, the Senate on Tuesday approved a revised version of the labour reform bill after extensive debate, with 57 votes in favour and 31 against. The Senate previously rejected the reform bill in April, but it was revived after Petro warned he would declare a referendum to put the measure to a public vote. The presidency dubbed the bill 'a historic step toward decent work' in a post on X shared by Petro. Protests were recently held in the capital Bogota and other major cities by advocates of Petro, who expressed their support for his proposed labour reform. Colombia is still reeling from bombing attacks in the southwest of the country that left seven dead and an attempted assassination on conservative opposition senator, and presidential hopeful, Miguel Uribe Turbay, which sparked fears the country could return to its darker days of assassinations and prolonged violence.
Globe and Mail
15-05-2025
- Business
- Globe and Mail
Cerro de Pasco Resources to Pursue Secondary Listing on the Lima Stock Exchange
MONTRÉAL, May 15, 2025 (GLOBE NEWSWIRE) -- Cerro de Pasco Resources Inc. (TSXV: CDPR) (OTCMKTS: GPPRF) (FRA: N8HP) ('CDPR' or the 'Company') is pleased to announce that it will pursue a secondary listing of its shares on the Lima Stock Exchange (Bolsa de Valores de Lima, 'BVL') as part of its strategy to expand its presence in Latin America and increase visibility among regional investors. The Company's primary listing will remain on the TSX Venture Exchange (TSXV). The Company has retained Kallpa Securities SAB ('Kallpa') as its sponsor and advisor for the listing process. Kallpa is a Peruvian investment firm specializing in equity sales, research, and corporate finance. It is the exclusive sponsor for all ten junior mining companies currently listed on the TSX Venture Exchange and cross-listed on the BVL. Since its founding in 2008, Kallpa has become one of Peru's leading brokerage firms, ranking 8th in trading volume among 20 Peruvian brokers, and widely recognized as the country's leading mining research house. The listing application is expected to be filed within the next 30 days, with completion anticipated within approximately two to three months, subject to regulatory approvals. Strategic Rationale for the Listing CDPR's planned listing on the BVL reflects its strong commitment to Peru and the broader Andean region, where the Company's flagship asset — a silver-rich polymetallic reprocessing project targeting Cerro de Pasco's historic tailings — is located. A BVL listing will: Improve access for Peruvian and regional investors seeking exposure to sustainable mining and environmental remediation; Broaden CDPR's shareholder base and enhance trading liquidity; and Align the Company with Latin America's most active equity market for mining. The BVL is now part of NUAM Exchange, the newly formed regional holding company integrating the stock exchanges of Chile, Colombia, and Peru into a single regional market ( It offers listed companies increased visibility and access to a deeper pool of institutional and retail investors across the Andean region. While each participating country retains its own regulatory framework, joint initiatives are underway to harmonize various processes such as IPO requirements, filings, custody, and settlement. Streamlined Regulatory Approach As a TSX Venture Exchange-listed company, CDPR benefits from the TSXV Passport Listing Process, which allows qualified issuers to fast-track secondary listings on approved exchanges such as the BVL. This process is designed to improve efficiency, reduce costs, and accelerate time to market — all while maintaining robust disclosure and governance standards. The BVL recognizes the TSXV as an authorized market under its regulatory framework. As a result, CDPR's listing will not create additional regulatory burdens. The Company will continue to report under Canadian securities laws, leveraging its existing compliance structure to meet local requirements in Peru. Market Overview NUAM Exchange: As of recent data, NUAM integrates the stock exchanges of Chile, Colombia, and Peru, with a combined market capitalization of approximately USD $476 billion, making it the second-largest integrated equity market in South America. Lima Stock Exchange (BVL): The BVL hosts 275 listed companies, with a combined market capitalization of approximately USD $190.7 billion, and a strong concentration in the mining and industrial sectors. Role of Kallpa Securities As CDPR's designated sponsor, Kallpa will: Guide and support all regulatory and procedural requirements for the BVL listing; Serve as CDPR's representative before Peruvian authorities and the exchange; and Lead the Company's marketing and investor outreach efforts in Peru, Chile, and Colombia following the listing. Executive Commentary 'A listing on the BVL would enhance CDPR's visibility and trading liquidity, while opening the door for broader participation in the Company's growth from Latin American institutional and retail investors, including Peruvian pension funds,' said Guy Goulet, CEO of CDPR. 'We view this as a natural step forward in aligning our capital markets presence with the region where our core operations and long-term vision are anchored.' Additional updates on the listing process will be provided as they become available. About Cerro de Pasco Resources Cerro de Pasco Resources is focused on the development of its principal 100% owned asset, the El Metalurgista mining concession, comprising silver-rich mineral tailings and stockpiles extracted over a century of operation from the Cerro de Pasco open pit and underground mine in central Peru. The Company's strategy entails the reprocessing and environmental remediation of historic mining waste, unlocking value while supporting sustainable development. The asset represents one of the world's largest above-ground metal resources. For more information, please visit: Further Information: Guy Goulet, CEO Telephone: +1-579-476-7000 Mobile: +1-514-294-7000 ggoulet@ Donna Yoshimatsu, Senior Strategic Advisor / Investor Relations Mobile: +1 416-722-2456 dyoshi@ Forward-Looking Statements and Disclaimer Certain information contained herein may constitute 'forward-looking information' under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, 'will be', 'expected' or variations of such words and phrases or statements that certain actions, events or results 'will' occur. Forward-looking statements, including the expectations related to the Corporation's objectives, goals or future plans, including the budgeted work program, are based on the Corporation's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Corporation will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
