IBOV 177,158.86 ▲ 1.88% IPSA 10,935.89 ▲ 0.52% IPC MEX 66,475.94 ▼ 1.23% MERVAL 3,310,982 ▲ 2.41% COLCAP 2,321.58 ▲ 0.73% BVL PERÚ 57,107.38 — — USD/BRL5.06▼ 1.11% USD/MXN17.34▼ 0.54% USD/CLP925.80▼ 0.84% USD/COP3,116▼ 2.97% USD/PEN3.38▼ 0.56% USD/ARS1,489▼ 0.47% USD/UYU40.22▲ 1.47% USD/PYG5,941▲ 0.68% USD/BOB11.80▲ 5.19% USD/DOP57.95▲ 0.09% USD/CRC449.30▲ 1.51% USD/GTQ7.63▲ 2.33% USD/HNL26.76▲ 0.31% USD/NIO36.62▼ 0.15% USD/VES743.77▲ 0.25% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.39▲ 0.40% USD/TTD6.75▲ 1.19% EUR/BRL5.83▼ 0.19% BRENT 89.28 ▼ 1.61% WTI 84.06 ▼ 0.47% IRON ORE 161.91 — — COPPER 6.50 ▲ 3.67% GOLD 4,173 ▲ 3.43% SILVER 59.49 ▲ 2.80% SOY 1,189 ▲ 0.89% CORN 468.50 ▲ 4.34% WHEAT 663.50 ▲ 0.42% COFFEE 324.50 ▼ 0.40% SUGAR 14.44 ▼ 0.41% ORANGE JUICE 145.95 ▲ 5.80% COTTON 81.10 ▲ 3.95% COCOA 5,118 ▼ 1.29% BEEF 227.45 ▼ 0.20% CATTLE 342.60 ▼ 0.49% LITHIUM 69.81 ▲ 4.60% PETR4 42.84 ▲ 2.00% VALE3 76.09 ▲ 1.39% ITUB4 42.74 ▲ 2.20% BBDC4 18.39 ▲ 0.22% ABEV3 15.96 ▲ 0.38% BBAS3 21.19 ▲ 1.97% B3SA3 15.63 ▲ 2.02% WEGE3 46.82 ▲ 2.59% PRIO3 59.96 ▲ 2.65% SUZB3 42.73 ▲ 1.02% RENT3 38.23 ▲ 2.11% AZZA3 15.86 ▼ 1.80% CSAN3 3.99 ▲ 2.57% RAIZ4 0.26 — 0.00% PCAR3 2.74 ▼ 2.49% GMAT3 3.98 ▲ 2.31% PSSA3 54.35 ▲ 1.00% CVCB3 1.30 ▲ 1.56% POSI3 3.52 ▼ 0.85% SLCE3 13.26 ▲ 1.30% NATU3 8.33 ▲ 0.73% BRKM5 5.93 ▲ 3.67% RANI3 8.03 ▲ 0.88% CSNA3 4.95 ▼ 4.81% CMIN3 5.72 ▼ 4.35% USIM5 7.55 ▼ 9.25% GGBR4 24.98 ▲ 0.77% ENEV3 26.15 ▲ 1.08% CPFE3 46.09 ▲ 2.90% CMIG4 11.23 ▲ 2.09% EQTL3 38.66 ▲ 2.22% LREN3 13.52 ▲ 1.20% VIVT3 32.63 ▲ 0.28% RAIL3 14.28 ▲ 2.37% KLABIN 18.05 ▲ 0.17% RAIA DROGASIL 18.25 ▲ 2.76% RDOR3 34.42 ▲ 1.68% HAPV3 11.01 ▲ 4.36% FLRY3 16.97 ▲ 0.83% SMTO3 14.40 ▲ 0.91% UGPA3 32.92 ▲ 2.88% VBBR3 35.63 ▲ 2.98% BBSE3 40.86 ▼ 0.15% BPAC11 56.62 ▲ 3.59% CURY3 30.40 ▲ 5.37% AERI3 2.13 ▲ 0.95% VIVARA 22.16 ▼ 0.85% COMPASS 24.84 ▲ 2.60% VAMOS 3.42 ▲ 3.32% SANB11 25.25 ▼ 1.48% ASAI3 8.41 ▲ 1.33% SBSP3 27.41 ▲ 3.01% WALMEX 50.34 ▲ 1.78% GMEXICO 212.28 ▲ 2.66% FEMSA 219.70 ▲ 3.56% CEMEX 20.72 ▲ 0.63% GFNORTE 200.90 ▲ 2.13% BIMBO 60.83 ▲ 1.59% TELEVISA 9.94 ▲ 0.81% AMX 21.99 ▲ 0.73% GAP 382.13 ▲ 0.81% ASUR 276.76 ▲ 1.76% OMA 233.94 ▲ 0.55% KOF 189.04 ▲ 1.18% GRUMA 268.28 ▲ 0.39% KIMBER 40.34 ▼ 0.25% SQM-B 63,101 ▼ 1.09% COPEC 6,260 ▲ 1.13% BSANTANDER 80.75 ▲ 0.64% FALABELLA 6,216 — 0.00% ENELAM 87.50 ▲ 0.93% CENCOSUD 1,935 ▲ 0.84% CMPC 1,037 ▲ 0.16% BANCO CHILE 194.70 ▲ 1.94% LATAM AIR 24.90 ▲ 2.05% YPF 81,400 ▲ 2.04% GGAL 8,015 ▲ 2.82% PAMPA 5,525 ▲ 2.89% TXAR 648.00 ▼ 1.52% ALUAR 979.50 ▲ 0.67% TGS 9,820 ▲ 3.26% CEPU 2,407 ▲ 5.06% MIRGOR 16,725 ▲ 1.06% COME 44.75 ▲ 4.95% LOMA NEGRA 3,690 ▲ 0.48% BYMA 299.00 ▲ 0.34% TELECOM ARG 4,355 ▲ 1.52% ECOPETROL 17.04 ▲ 3.87% BANCOLOMBIA 93.97 ▲ 5.03% GRUPO AVAL 5.17 ▲ 5.41% CREDICORP 402.21 ▲ 4.76% SOUTHERN COPPER 184.89 ▲ 5.37% BUENAVENTURA 31.93 ▲ 5.66% MERCADOLIBRE 1,886 ▲ 1.20% NUBANK 14.49 ▲ 3.21% XP 17.20 ▲ 5.46% PAGSEGURO 9.85 ▲ 3.20% STONE 11.43 ▲ 4.29% GLOBANT 36.37 ▼ 4.67% TECNOGLASS 43.66 ▼ 2.72% GAP AIRPORT 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▲ 3.43% SILVER 59.49 ▲ 2.80% SOY 1,189 ▲ 0.89% CORN 468.50 ▲ 4.34% WHEAT 663.50 ▲ 0.42% COFFEE 324.50 ▼ 0.40% SUGAR 14.44 ▼ 0.41% ORANGE JUICE 145.95 ▲ 5.80% COTTON 81.10 ▲ 3.95% COCOA 5,118 ▼ 1.29% BEEF 227.45 ▼ 0.20% CATTLE 342.60 ▼ 0.49% LITHIUM 69.81 ▲ 4.60% PETR4 42.84 ▲ 2.00% VALE3 76.09 ▲ 1.39% ITUB4 42.74 ▲ 2.20% BBDC4 18.39 ▲ 0.22% ABEV3 15.96 ▲ 0.38% BBAS3 21.19 ▲ 1.97% B3SA3 15.63 ▲ 2.02% WEGE3 46.82 ▲ 2.59% PRIO3 59.96 ▲ 2.65% SUZB3 42.73 ▲ 1.02% RENT3 38.23 ▲ 2.11% AZZA3 15.86 ▼ 1.80% CSAN3 3.99 ▲ 2.57% RAIZ4 0.26 — 0.00% PCAR3 2.74 ▼ 2.49% GMAT3 3.98 ▲ 2.31% PSSA3 54.35 ▲ 1.00% CVCB3 1.30 ▲ 1.56% POSI3 3.52 ▼ 0.85% SLCE3 13.26 ▲ 1.30% NATU3 8.33 ▲ 0.73% BRKM5 5.93 ▲ 3.67% RANI3 8.03 ▲ 0.88% CSNA3 4.95 ▼ 4.81% CMIN3 5.72 ▼ 4.35% USIM5 7.55 ▼ 9.25% GGBR4 24.98 ▲ 0.77% ENEV3 26.15 ▲ 1.08% CPFE3 46.09 ▲ 2.90% CMIG4 11.23 ▲ 2.09% EQTL3 38.66 ▲ 2.22% LREN3 13.52 ▲ 1.20% VIVT3 32.63 ▲ 0.28% RAIL3 14.28 ▲ 2.37% KLABIN 18.05 ▲ 0.17% RAIA DROGASIL 18.25 ▲ 2.76% RDOR3 34.42 ▲ 1.68% HAPV3 11.01 ▲ 4.36% FLRY3 16.97 ▲ 0.83% SMTO3 14.40 ▲ 0.91% UGPA3 32.92 ▲ 2.88% VBBR3 35.63 ▲ 2.98% BBSE3 40.86 ▼ 0.15% BPAC11 56.62 ▲ 3.59% CURY3 30.40 ▲ 5.37% AERI3 2.13 ▲ 0.95% VIVARA 22.16 ▼ 0.85% COMPASS 24.84 ▲ 2.60% VAMOS 3.42 ▲ 3.32% SANB11 25.25 ▼ 1.48% ASAI3 8.41 ▲ 1.33% SBSP3 27.41 ▲ 3.01% WALMEX 50.34 ▲ 1.78% GMEXICO 212.28 ▲ 2.66% FEMSA 219.70 ▲ 3.56% CEMEX 20.72 ▲ 0.63% GFNORTE 200.90 ▲ 2.13% BIMBO 60.83 ▲ 1.59% TELEVISA 9.94 ▲ 0.81% AMX 21.99 ▲ 0.73% GAP 382.13 ▲ 0.81% ASUR 276.76 ▲ 1.76% OMA 233.94 ▲ 0.55% KOF 189.04 ▲ 1.18% GRUMA 268.28 ▲ 0.39% KIMBER 40.34 ▼ 0.25% SQM-B 63,101 ▼ 1.09% COPEC 6,260 ▲ 1.13% BSANTANDER 80.75 ▲ 0.64% FALABELLA 6,216 — 0.00% ENELAM 87.50 ▲ 0.93% CENCOSUD 1,935 ▲ 0.84% CMPC 1,037 ▲ 0.16% BANCO CHILE 194.70 ▲ 1.94% LATAM AIR 24.90 ▲ 2.05% YPF 81,400 ▲ 2.04% GGAL 8,015 ▲ 2.82% PAMPA 5,525 ▲ 2.89% TXAR 648.00 ▼ 1.52% ALUAR 979.50 ▲ 0.67% TGS 9,820 ▲ 3.26% CEPU 2,407 ▲ 5.06% MIRGOR 16,725 ▲ 1.06% COME 44.75 ▲ 4.95% LOMA NEGRA 3,690 ▲ 0.48% BYMA 299.00 ▲ 0.34% TELECOM ARG 4,355 ▲ 1.52% ECOPETROL 17.04 ▲ 3.87% BANCOLOMBIA 93.97 ▲ 5.03% GRUPO AVAL 5.17 ▲ 5.41% CREDICORP 402.21 ▲ 4.76% SOUTHERN COPPER 184.89 ▲ 5.37% BUENAVENTURA 31.93 ▲ 5.66% MERCADOLIBRE 1,886 ▲ 1.20% NUBANK 14.49 ▲ 3.21% XP 17.20 ▲ 5.46% PAGSEGURO 9.85 ▲ 3.20% STONE 11.43 ▲ 4.29% GLOBANT 36.37 ▼ 4.67% TECNOGLASS 43.66 ▼ 2.72% GAP AIRPORT 219.62 ▲ 1.22% ASUR 276.76 ▲ 1.76% OMA AIRPORT 108.09 ▲ 1.61% AMX ADR 25.33 ▲ 1.85% FEMSA ADR 126.70 ▲ 4.66% CEMEX ADR 11.94 ▲ 2.01% PETROBRAS ADR 19.12 ▲ 2.85% VALE ADR 14.99 ▲ 2.29% ITAU ADR 8.46 ▲ 3.74% SANTANDER BR 5.06 ▲ 1.29% AMBEV ADR 3.12 ▲ 0.48% CSN 1.01 ▼ 2.43% GERDAU 4.95 ▲ 1.85% LATAM ADR 53.94 ▲ 3.63% BTC 64,737 ▲ 1.30% ETH 1,920 ▲ 0.63% SOL 74.50 ▲ 1.23% XRP 1.09 ▲ 1.19% BNB 592.60 ▲ 3.71% ADA 0.17 ▲ 5.61% DOGE 0.07 ▲ 0.64% AVAX 6.45 ▲ 0.46% LINK 8.45 ▲ 1.55% DOT 0.77 ▲ 1.49% LTC 45.43 ▲ 0.04% BCH 218.32 ▲ 3.40% TRX 0.33 ▲ 1.05% XLM 0.17 ▲ 0.31% HBAR 0.07 ▲ 1.11% NEAR 1.69 ▲ 4.26% ATOM 1.29 ▲ 0.38% AAVE 99.20 ▲ 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Belo Monte Dam Moves Forward

By · April 12, 2011 · 3 min read

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By Patricia Maresch, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – Brazil’s Foreign Ministry rejected a request from the Organization of American States (OAS) to halt work on its massive hydro-electric Belo Monte dam in the Amazon rainforest. Itamaraty Palace (Palácio do Itamaraty) – the head office of the Ministry of Foreign Affairs in Brazil, called the request “premature and unjustified.”

Protester holding a sign saying Stop Belo Monte, Brazil News
Protester holding a sign saying Stop Belo Monte, image recreation.
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The Inter-American Commission on Human Rights of the OAS said the construction of the Belo Monte dam should be suspended until the concerns of indigenous people in the area were addressed.

The Belo Monte hydroelectric dam development may be Brazil’s most controversial environmental concern. The US$17 billion (R$27 billion) project would be the world’s third largest dam, and will divert the Xingú river, a tributary of the Amazon in the state of Pará.

The plan is causing fears that the dam will displace between 20,000 and 40,000 people and hundreds of acres of Amazon forest and local settlements will be flooded.

Turbines of the dam are expected to generate around 11,000 megawatts of electricity annually, but could result in drying up rivers in the Amazon, causing the extinction of native species of fish and other wildlife. Other concerns are that the turbines will also generate vast quantities of methane – a greenhouse gas more potent than CO2.

A partial installation license was issued for the dam project in late January despite the dam building consortium’s failure to meet dozens of environmental and social pre-conditions.

A statement from the Foreign Ministry in reaction to the OAS-Commission read: “The Brazilian government is aware of the environmental challenges that projects such as Belo Monte could entail. For this reason, they are being observed with absolute accuracy, taking into account all social and environmental aspects involved.”

Meeting organised by the government on the construction of the Belo Monte Dam, photo: courtesy of Divulgação Palacio do Planalto.
Meeting organised by the government on the construction of the Belo Monte Dam, photo courtesy of Divulgação Palacio do Planalto.

The statement adding that: “The Brazilian government has worked effectively and diligently to meet existing demands.” The government said it has organized some thirty public meetings about the project.

“The matter of Belo Monte will probably end up in Supreme Court,”, says one of Pará’s state prosecutors, who is handling ten lawsuits against the construction of the dam. “There was no debate,” prosecutor Pontes Jr. says in an interview with a Brazilian press agency: “In less than fifteen days it was a done deal.”

The lawsuits question the legality of the authorization given by Congress in July 2005 to build the dam while affecting indigenous communities. Pontes Jr. criticized the functioning of the government saying that it was “afraid” to have an open discussion with the Brazilian public: “There is something rotten and they don’t want to say that to the people of Brazil.”

Former U.S. president Bill Clinton spoke about the controversies surrounding the mega-dam during a speech at the World Sustainability Forum in Manaús last March. While commending Brazil’s efforts to reduce deforestation and achieve economic prosperity, Clinton called on Brazil to show leadership in finding alternative energy solutions.

President Dilma Rouseff left responding to the OAS request to her Foreign Ministry. During her period as chief of staff and energy minister under her predecessor Lula, Rousseff expressed an unwavering commitment to Belo Monte. When she became Brazil’s new president four months ago, Rousseff stated the desire to be more sensitive to human rights issues.

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