By R. Evan Ellis (auth.)
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Extra info for China on the Ground in Latin America: Challenges for the Chinese and Impacts on the Region
In the south of Peru, China Aluminum Company (Chinalco) is developing a new mine known as Toromocho, the rights to which it acquired when it purchased Peru Copper in July 2007. 1 billion. 40 Despite some difficulties with residents who did not wish to move, Chinalco successfully constructed a new town, Carhuacoto, to which it successfully relocated the residents of Morococha. 42 In the north coast of Peru, Chinese investors have acquired interest in yet another mining project, Rio Blanco, near the city of Piura.
In general, the largest Chinese agricultural initiatives in the region have been concentrated in the southern cone. , pursuing a model similar to that used by major Western agricultural companies such as ADM, Bunge, Cargill, and Dreyfuss. Chinese investors, in conjunction with local Latin American partners, have also pursued a number of more modest “industrial agriculture” initiatives smaller initiatives in virtually every country of the region, and in particular, Caribbean Basin nations such as Jamaica, Suriname, and Guyana.
131Although a subsequent attempt by CNOOC to acquire majority stake in PanAmerican through Bridas fell through,132 CNOOC retained a significant stake and voice in Pan American through Bridas. 134 Following the 2010 acquisitions, the major Chinese petroleum companies continued to consolidate and deepen their presence in Argentina, although not all initiatives bore fruit. 137 Beyond major deals, as seen in other countries in Latin America and the Caribbean, smaller Chinese petroleum and petroleum service companies have also continued to set up operations and win contracts in the country.