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VIDEO - Remi Piet on Elections and Mining in Latin America
Piet touched on issues investors should be looking into in not only Brazil, but also Argentina and Bolivia.
In an interview with the Investing News Network (INN), Senior Director at Americas Market Intelligence Remi Piet said that the recent election of Jair Bolsonaro as President of Brazil could see more mining investment there, as the government makes positive overtures on business freedom.
“[There is] a clear signal for investors that over the course of the administration, it’s going to be pro-business and pro-private interests [and] the minister of economics is a very solid choice.”
Speaking with INN at the Vancouver Resource Investment Conference, Piet touched on issues election-watchers and investors would be looking into in not only Brazil, but in the upcoming Argentine and Bolivian elections this year.
On Brazil, Piet said that after a decline in mining investment over the past few years, there may well be an increase in interest in the South American economic giant over the course of Bolsonaro’s administration.
“[We are] very confident in the capacity of the government to move forward reforms, and as a result, welcoming investment in the natural resource sector which has been key to the platform of Bolsonaro,” he said.
Touching on the idea that Bolsonaro is the ‘Trump of the Tropics’, Piet said that mining operators would need to be “wary of reputation risks, very wary of social and political risks to move forward.”
To the south, Mauricio Macri is up for re-election in October. The president of Argentina has so far been seen to be “level headed and working hand-in-hand with the IMF” to help the Argentine economy recover, said Piet — signs that he could secure himself a second term at the helm, thus keeping previous president Cristina Fernández de Kirchner from office.
In the Andes, 13-year president of Bolivia Evo Morales is also up for re-election again after changing the constitution to allow a fourth tilt at office.
Piet said that Morales could be in for a fight, with two former presidents (Carlos Mesa and Jaime Paz Zamora) and a former vice president (Víctor Hugo Cárdenas) running against him.
Bolivia, said Piet, is a “country with very strong mining potential”, with investment well down compared to the potential that it has.
“We’re looking at Bolivia as potentially a very interesting jurisdiction for future mining investment in the next 2-5 years if indeed Morales has to step down.”
Watch the full video above for in-depth discussion about the impact of the Brazilian election, and what miners and investors are watching in the lead-up to elections in Argentina and Bolivia. You can also click here to view our full interview playlist on YouTube.
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Securities Disclosure: I, Scott Tibballs hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in contributed article. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.