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Paraguay crisis threatens emerging uranium ambitions​

Paraguay’s emerging mining industry faces fresh political uncertainty after President Santiago Peña resigned Thursday amid a banking crisis, raising questions about the future of US-backed investments in the country’s largely untapped titanium and uranium resources.

Peña stepped down after the collapse of Ueno Bank, a major digital lender linked to his government, triggered widespread protests, froze millions of depositors’ savings and cost him the support of the long-ruling Colorado Party.

Minutes after his announcement, the lower house voted 78-0 to impeach him, sending the charges to the Senate. Lawmakers also moved to consider his resignation, opening a path for Vice-President Pedro Alliana to assume power without a Senate trial.

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