Vocación global: el auge de los metales impulsa la expansión internacional de las mineras latinoamericanas.
Author | Coronado, Eduardo |
Todo apunta a que el ciclo de altos precios del cobre y otros metales se mantendrá si continúa el acelerado ritmo de crecimiento las potencias emergentes lideradas por China. Esa positiva tendencia esta siendo muy bien aprovechada por un puñado de empresas latinoamericanas que ya juega en la misma cancha de las gigantes del rubro.
El mejor ejemplo es la brasileña Companhia Vale do Rio Doce (CVRD), que se ha convertido en la revelación del sector, al subir abruptamente al cuarto lugar entre las gigantes mundiales, en términos de capitalización bursátil. Sumó US$70,000 millones tras adquirir la minera canadiense Inco.
CVRD pasó de ser una firma local dedicada a la explotación de hierro y aluminio, a un gigante diversificado. No está sola, es parte de un equipo de primera integrado por Southern Copper, de Grupo México, la chilena Antofagasta Minerals y la estatal chilena Codelco. "Lo de CVRD es una expresión de confianza. Es el salto de una empresa estatal local a una multinacional que no duda en comprar compañías del primer mundo", dice Anthony Dawes, socio de la consultora PricewaterhouseCoopers, en Chile.
Antofagasta Minerals es otro ejemplo. Además de cotizar en la Bolsa de Londres, opera en Chile, Colombia y Ecuador, y el año pasado adquirió un yacimiento de oro y cobre en Pakistán, en alianza con la canadiense Barrick Gold Corporation. Antofagasta Minerals y la mexicana Southern Copper se han mantenido por tres años consecutivos dentro de las cinco mineras del mundo con más altos márgenes de Ebitda --ganancias antes de intereses, impuestos, deprecaciones y amortizaciones.
Pero uno de los desafíos que deben encarar las llamadas multilatinas mineras es el fuerte...
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