Brazilian President Luiz Inácio Lula da Silva chaired a ministerial meeting at the Planalto Palace on July 10, focusing on the national critical minerals strategy, aimed at promoting the exploration, processing, and industrialization of strategic minerals such as lithium, rare earths, nickel, and cobalt. Vice President and Minister of Development, Industry, Trade and Services Geraldo Alckmin, and Minister of Mines and Energy Alexandre Silveira attended the meeting.

The meeting comes as the government is pushing forward the National Policy for Critical and Strategic Minerals bill in Congress. The bill has already passed the Chamber of Deputies and is now awaiting Senate approval. However, progress has been hampered by tensions between Lula and Senate President Davi Alcolumbre.

The bill would expand government control over critical minerals, including the creation of a commission directly under the presidency to define priority projects, establish classification criteria, and veto sensitive transactions such as foreign acquisitions of mining assets. The bill also provides 5 billion reais in tax credits between 2030 and 2034 to stimulate the critical minerals supply chain.

The Brazilian government has identified priority minerals including rare earths, lithium, nickel, cobalt, copper, and graphite – essential raw materials for batteries, electric vehicles, electronics, and clean energy generation technologies. Brazil holds the world’s second‑largest rare earth reserves (about 21 million tonnes), second only to China, and also controls 26% of global graphite, over 90% of niobium, 12% of nickel, and 5% of proven lithium reserves.

However, there are internal disagreements over the degree of intervention. Points of contention include the extent of state involvement, the means to stimulate local processing of minerals, and Brazil’s positioning in global supply chains. The private sector fears the bill could increase regulatory uncertainty and scare off investment. The government also acknowledges that the economic viability of different minerals varies, depending on technology, market size, international competitiveness, and their position in the value chain.

Minister Silveira recently made clear that Brazil “under no circumstances” should export unprocessed critical minerals. He stressed that the country’s mineral wealth should drive industrialization, technological innovation, and job creation, not merely raw material exports. The Lula administration has established the National Mining Policy Council to coordinate strategic policies for critical minerals. On the international front, Brazil has signed a joint declaration with Germany to promote research, technological development, and innovation cooperation in critical minerals. The EU is also in talks with Brazil to establish a strategic partnership on critical minerals.

In its latest Economic Outlook report released on July 10, Citi Bank lowered its 2026 GDP growth forecast for Colombia from 2.7% to 2.5%. At the same time, Citi expects Colombia’s inflation rate to reach 6.2% in 2026, with the policy interest rate rising to 12.25% – both the second‑highest levels in Latin America.

In the regional growth landscape, Colombia’s 2.5% forecast places it behind the Dominican Republic (4.1%), Panama (4.1%), Costa Rica (3.5%), Peru (2.9%), and Argentina (2.9%). Brazil is expected to grow 1.8%, while Mexico is seen improving from 1.1% to 2%.

On inflation, Citi projects that Colombia’s inflation will rise from 5.1% in 2025 to 6.2% in 2026, before easing to 4.2% in 2027. This implies that the process of returning inflation to the central bank’s target range will be longer than previously anticipated. Citi expects the Colombian central bank’s policy rate to reach 12.25% by the end of 2026 – with some reports noting a range of 12.25% to 12.50%. For the exchange rate, Citi forecasts the dollar‑peso rate at around 3,527 by year‑end.

Ernesto Revilla, Citi’s Chief Economist for Latin America, noted that the region as a whole has shown considerable resilience. “Investors see our region as a good place with great potential – provided that economic policies become more investment‑friendly,” Revilla said. Citi also lowered its global growth forecast for 2026 from 2.9% to 2.5% but believes risks of a negative scenario have decreased as US‑Iran tensions have eased.

Analysts point out that Colombia’s economy faces multiple pressures – high inflation, elevated interest rates, and a slowing global economy – which are dampening its growth momentum. Citi also noted that if the new government can push forward fiscal and regulatory reforms to boost investment confidence, there is upside room for growth. This assessment leaves room for speculation about Colombia’s future economic policy direction.

Jorge Rodríguez, President of Venezuela’s National Assembly, announced on social media on July 9 that the two strong earthquakes that struck the country on June 24 have so far caused 3,889 deaths and 16,740 injuries. This is the latest official casualty figure released two weeks after the disaster, an increase of 204 confirmed deaths since the previous report.

According to official Venezuelan statistics, 6,462 people have been rescued, though the number of rescues has remained unchanged for five consecutive days. The earthquakes left 17,907 people homeless. Nationwide, 89 temporary camps have been set up, sheltering 16,891 people, while another 28,836 people are receiving medical treatment. Since the main shocks on June 24, the country has recorded 1,142 aftershocks.

The earthquakes struck on the evening of June 24, with magnitudes of 7.2 and 7.5, occurring about 40 seconds apart, with epicenters in Yaracuy state, only 10 kilometers apart. The hardest-hit area, La Guaira state, suffered catastrophic destruction. Previously, Venezuela’s acting president, Delcy Rodríguez, had revealed that nearly all officials in La Guaira state perished in the quakes. La Guaira has been declared a “disaster zone,” with large numbers of buildings collapsed or severely damaged.

Rescue efforts are ongoing, with 30,076 emergency personnel, 29,344 volunteers, and 3,931 foreign rescue workers participating in post-disaster rescue and recovery operations. The United Nations estimates that 1.3 million people will need humanitarian assistance over the next six months. The UN is striving to raise approximately $300 million in reconstruction funds for Venezuela.

International aid has continued to arrive. The Chinese government provided emergency humanitarian cash assistance immediately after the quake and later added an additional 100 million yuan in emergency无偿 aid. On the evening of July 5, the first shipment of 80 tons of relief supplies departed from Beijing, including 20 generators, 8 water purification vehicles, 200 disinfection units, more than 1,700 tents, and over 6,700 blankets. The Red Cross Society of China also provided $300,000 in emergency cash assistance to the Venezuelan Red Cross.

However, the health situation in the disaster areas remains dire. The Pan American Health Organization had previously warned that overcrowding in shelters, lack of clean water, and interrupted medical services could lead to outbreaks of diarrheal diseases, respiratory infections, and other illnesses. As search and rescue operations gradually transition to reconstruction, how to prevent secondary disasters and the spread of epidemics poses a major challenge for the Venezuelan government.

Certainly. Here is the English translation of the previous response regarding the 2026 Latin American Rich List Top 10.

2026 Latin American Billionaires Top 10

Based on public data from Forbes and other sources in 2026, the top ten billionaires in Latin America come primarily from Mexico, Brazil, Chile, and Colombia. Their wealth is concentrated in telecommunications, mining, finance, and technology.

• Overwhelming dominance at the top: Carlos Slim Helú holds a fortune of $125 billion, which grew by 51% in one year. His net worth is equivalent to approximately 6.7% of Mexico’s GDP.

• “Dark horses” and soaring fortunes: Germán Larrea Mota‑Velasco saw his wealth surge by 134% in a single year. Alejandro Baillères Gual also doubled his family’s wealth.

• Newcomers and tech power: The presence of Eduardo Saverin (co‑founder of Facebook) and David Vélez (founder of Nubank) highlights the wealth‑creating power of the technology sector in Latin America.

• Women in the ranks: Iris Fontbona and María Asunción Aramburuzabala are prominent female representatives on the list.

• Argentina: Paolo Rocca ($7.3 billion) became the country’s new richest person, followed by **Marcos Galperin** ($7.2 billion) in second place.

• Colombia: Luis Carlos Sarmiento has a fortune of approximately $9 billion.

• Mexico: Ricardo Salinas Pliego saw his wealth shrink significantly to $3.7 billion.

On July 1, 2026, Uruguayan President Yamandú Orsi officially took over the pro tempore presidency of the Southern Common Market (Mercosur) from Paraguayan President Santiago Peña at the 68th Summit of Heads of State held in Luque, Paraguay. The ceremony was attended by Brazilian President Luiz Inácio Lula da Silva, Bolivian President Rodrigo Paz, and other leaders of member states.

In his inaugural address, Orsi stated that the priorities of Uruguay’s presidency term are to “continue advancing the modernization of the bloc” and consolidate its trade openness. He emphasized: “We want to see a more modern, more dynamic Mercosur that is more open to the world, but above all, a Mercosur that delivers tangible results for its citizens”. Orsi described the past six months as “historic,” as the bloc signed a trade agreement with the European Union, which he called a “turning point” for economic integration and investment. He indicated that during Uruguay’s term, “special emphasis” will be placed on implementing the agreement with the EU and strengthening relations with the European Free Trade Association. The next summit in December will host the first council meeting of the interim trade agreement and the first business forum between the two blocs.

In terms of foreign economic relations, Orsi said Uruguay would push to conclude trade negotiations with Canada and the United Arab Emirates, and advance talks with India, Vietnam, and Japan — negotiations with these countries were announced by the bloc earlier this week. He stated: “The challenges of our time call for more cooperation, not less; more dialogue, not less; more integration, not less”.

On domestic border integration, Orsi announced plans to modernize border integration control zones to facilitate the flow of goods and people. “Borders are not barriers,” he said, “but places where millions of people live, work, study, and start businesses every day”. In the security domain, Uruguay will seek to strengthen regional coordination in combating transnational organized crime.

Notably, Uruguay’s assumption of the Mercosur pro tempore presidency means it now concurrently holds the presidency of multiple key multilateral mechanisms, including CELAC, the Group of 77 plus China, and the Brasília Consensus.

Bogotá will host the VII Meeting of Energy Ministers of Latin America and the Caribbean to promote and reach agreements that will allow progress towards a just and sovereign energy transition.
Bogotá, D.C., July 21, 2025. Within the framework of the Pro Tempore Presidency of the Community of Latin American and Caribbean States (CELAC), Colombia will host the VII Meeting of Energy Ministers of the Community of Latin American and Caribbean States (CELAC), which will be held on July 22 and 23, 2025, at the Bogotá Chamber of Commerce – El Salitre Campus.

Led by the Ministry of Mines and Energy, headed by Edwin Palma, this important summit will bring together international organizations, diplomatic delegations, and energy sector allies to consolidate regional consensus that connects the countries of the region under a shared vision: building a just, resilient, and sovereign energy transition in Latin America and the Caribbean.

As part of an unprecedented agenda for energy integration in Latin America and the Caribbean, the VII Meeting of Ministers of Energy will be held in Bogotá on July 22. The national government has convened energy authorities, multilateral organizations, and key stakeholders from the continent to consolidate consensus around a just, resilient, and sovereign energy transition.

Opening Ceremony
The opening session, scheduled for Tuesday, July 22, at 9:00 a.m., will feature the participation of the Minister of Mines and Energy, Edwin Palma Egea, and the Colombian Foreign Ministry.

Ministerial Meeting
In addition, important topics such as the CELAC Electricity Interconnection Plan and the Integrated Platform for Electricity, Climate, and Hydrological Data will be discussed. High-level panels will also be held with the participation of our ministry, the Latin American Energy Organization (OLADE), the Inter-American Development Bank (IDB), CAF, the World Bank, the European Commission, and the International Energy Agency (IEA), among other important sector players.

Financing Summit for Energy Transitions in Latin America and the Caribbean
The First Financing Summit for Energy Transitions in Latin America and the Caribbean will take place on July 23rd, with the presence of President Gustavo Petro. Public and multilateral actors will establish joint lines of action to achieve sustainable energy solutions. There, national entities, private investors, companies in the mining and energy sector, and governments come together to mobilize resources to advance decarbonization projects, resilient infrastructure, and equitable access to energy.

This important event reaffirms Colombia’s leadership as a leading country in regional energy integration, as well as its progress toward the Just Energy Transition, in line with the national government’s objectives outlined by President Gustavo Petro.

The President of the European Council, António Costa, and the Head of State of Colombia, Gustavo Petro, held a meeting this Monday to advance preparations for the summit of the EU and the Community of Latin American and Caribbean States (CELAC), which will take place next November in the Colombian city of Santa Marta.

Costa, who met with Petro on the sidelines of the Fourth UN International Conference on Financing for Development in Seville, emphasized on social media that the meeting in Santa Marta will be “a key meeting to deepen the alliance” between the two blocs. This is the fourth high-level summit between the parties, more than two years after the one hosted by Brussels in July 2023.

Petro and Costa also took advantage of this meeting in the Andalusian capital to reaffirm shared values and advocate for strengthening areas of common interest, including “multilateralism, trade, climate action, energy, regional interconnections, and security.”