We’re covering today a major risk for Brazil’s power grid. The terrible Q2 earnings season. And new worries around the president’s health.
Illegal mining threatens major power line in Brazil
BMTE, the company which runs the Belo Monte power transmission line, has filed complaints denouncing that illegal mining camps jeopardize the 2,076-kilometer high-voltage line, which stretches from the Belo Monte dam in Brazil’s North, all the way down to the Southeast. In a document to authorities, BMTE President Chang Zhongjiao complains about wildcat mining popping up in the municipalities of Marabá, Paraupebas, Itupiranga, and Curionópolis — all along the transmission line’s path.
- The law says that BMTE controls a stretch of land 100-meters wide along the line, meaning that any activities on this territory require the company’s authorization. Of course, illegal miners are not known for respecting regulations.
- The police carried out an operation on May 11, closing a number of mining camps. But they returned just days later, BMTE complains.
What they are saying. BMTE, which belongs to China’s State Grid and Eletrobrás, says that wildcat mining has become more prevalent in recent months. Gold digging includes removing large quantities of land with machines and water jets, which can...