The Rising Influence of Rising Affluence

[DewDiligence]

Sometimes, TMF tops SA for sheer ignorance—here’s an example:

http://beta.fool.com/muhammadbazil/2012/08/13/vale-ss-loss-share-iron-ore-market-may-end-soon/9270/

VALE's mammoth operation in Carajas State—known as its Serra Sul Project—will more than double the province's annual output of iron ore by providing VALE with almost 90 million metric tons per year in increased mining capacity. The Serra Sul Project has turned into a regulatory nightmare for the company because of very strict environmental requirements imposed on the project by both the Brazilian national government and that of Carajas State.

Brazil has 26 states, but Carajás is not one of them! (There was a movement to split up Pará state, which would have elevated the Carajás region to statehood, but the idea was rejected.) You would think someone purporting to be an expert on the Brazilian industry industry would know this.